Tag Archive for Milton Friedman

The Vacuum Cleaner Effect

25000 people die of hunger every day.  This is not because of a population explosion. The amount of money required to end hunger is trivial; far less than what is spent on wars, or even on cosmetics.  What is lacking…

The Current Crisis in Economics: Part 1

Part I: Twentieth Century Economics The human tragedy of the Great Depression has been graphically depicted by John Steinbeck in his moving novel, The Grapes of Wrath. The crisis it created for economic theory is not so well known. Leading…