Amity Shlaes has a great article at Bloomberg on Milton Friedman’s world wide legacy.
Today’s papers are filled with tributes to the scholarly contributions of Milton Friedman, who died yesterday at the age of 94.
They note how the great economist invented modern monetarism and vanquished orthodox Keynesianism with a single phrase: “Inflation is always and everywhere a monetary phenomenon.” He also inspired former Federal Reserve Chairman Paul Volcker to push interest rates to the sky to stop inflation, an event whose benefits we still see in the shape of the yield curve today.
Yet there is something Friedman did that is less talked about: He showed us how free markets can be humane.
You can find the rest of the editorial HERE