Not long ago, President Joe Biden made an offhanded comment that “Milton Friedman isn’t running the show anymore.”
This president has seldom spoken more valid words. And that’s where the trouble has begun.
If you were to rate the three most influential economic minds of all time, you’d be hard-pressed to come up with a better trio than Adam Smith, John Maynard Keynes and Friedman.
I’m a little too young to have known Keynes or Smith, but I am old enough to have gotten to know Friedman, and I’m proud to have called him a friend.
I used to have dinner with Friedman and his wife, Rose, a great economist in her own right, and a few other of his close confidantes once or twice a year up in San Francisco during the last years of his life.
Few academics have done more to advance human freedom than Friedman. He was the leading apostle for the free enterprise system. He had a profound impact on major policy decisions, including the case for parental choice in education, expansion of free trade and even abolition of the m