Milton Friedman Quotes
Political leaders in capitalist countries who cheer the collapse of socialism in other countries continue to favor socialist solutions in their own. They know the words, but they have not learned the tune.
Friedman, Milton. Why Government Is the Problem. Hoover Institution Press, 1993, p. 12.
Most classic socialists would not agree, but Deng’s approach created the most economically successful socialist economy in history.
The Red Scare had already reached most conservatives and Truman and most others had not yet been affected by the fear of Communism that so many people had through the 1970s.
3rd Earl Russell of Kingston. He favored and argued for a middle ground of a capitalistic socialism or a socialized capitalism, which is what most democracies became.
Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students and young professors who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell and Robert Lucas Jr.
