Joliet Jake
Nov 16 2006, 9:11 pm
Milton Friedman, winner of the 1976 Nobel prize in Economics, has passed away. Friedman helped develop and push "supply-side" economic theory. These theories became policies in the 1980s:
QUOTE
Friedman's ideas were embraced by President Reagan and British Prime Minister Margaret Thatcher in the 1980s and lauded by many in the business world. But they were also controversial due to the deep cuts in government spending and the more restricted role they entailed for government in buffering citizens from economic forces.
Friedman was regarded as the leader of the Chicago School of monetary economics and the leading proponent of free-market theory.
CNN Story
bluedave
Nov 16 2006, 9:11 pm
Thatcher next please ?
Lassie
Nov 16 2006, 9:12 pm
A true genius. RIP.
Jenny L
Nov 16 2006, 9:15 pm
NOOOOOOO... God, what next?!
Edit: Oh, sorry. I read "Morgan Freeman".
DDBug
Nov 18 2006, 7:06 am
Awww - shame. I liked his ideas (minimal government for more political and social freedom).
Bell the cat
Nov 18 2006, 9:04 am
I thought his ideas stunk to high heaven and regret that many of them were overimplemented in the UK. However, I have to acknowledge he was nevertheless a brilliant economist and for that the world is a lesser place with him passing.
Eeyore
Nov 18 2006, 9:18 am
QUOTE (Bell the cat @ Nov 18 2006, 9:04 am)
brilliant economist
Two words you don't often see together
Bell the cat
Nov 18 2006, 9:19 am
altho I prefer Keynes myself ...
Johnny Norfolk
Nov 18 2006, 9:25 am
Thanks to him we are able break away from the evils of socialism and communism.
He made people realise they could be free without having to rely on the state.
He wanted the state to be a safety net and not a feather bed.
Shame his thoughts have not reached Germany yet.
eurovol
Nov 18 2006, 11:40 am
George H W Bush said it best when he called supply-side theory "Voodoo economics". Trickle down economics is pseudo capitalistic communism; thrickle up economics is free market capitalism.
Good thing Friedman was a monetarist and not a supply-sider.
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