from Project Syndicate
Milton Friedman was not given to self-doubt. His commitment to the virtues of unobstructed markets made him the guru of deregulation, privatization, and free trade. In his view, unfettered capitalism is the bedrock of civic and political freedom, whereas societies that inhibit the workings of supply and demand are condemned to lose it. These beliefs undergirded the hyper-globalization that prevailed for half a century from the 1970s, and Friedman was their avatar...
Friedman, the high priest of neoliberalism, eventually watched as his legacy gave way to political monetarism, soaring public debt, and, lately, the return of the regulatory state...
The picture of Friedman and Hayek that emerges is one of idea-makers who
engaged in scholarly pursuits while seeking to instrumentalize their
concepts...
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