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[–][deleted]  (3 children)

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    [–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

    He logically argued against Keynesian economics...

    Did he? Keynesianism resurfaced in 2008 because excluding banks and money from economic models produces a nonsense view of the economy.

    Did you know that The Bank of England didn't know how to create new money during the 2008 financial crisis? They had to dig through dusty old books in storage to find out. That was the result of people like Friedman 'burying' Keynesian economics.

    There's a famous video clip of Friedman arguing about cheaper prices. The thing is, wages are prices and no one likes cheaper wages.

    As for unintended consequences being the cause for most government failures I only partially agree. The cross over between government and private interests seems to be the epicentre of most failures, especially when they decide they've defeated the business cycle once again.

    Edit: typo

    [–]Jesus 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

    Classical economics.