Remembering Milton Friedman......while capitalism is under attack today......
也来抄抄拼拼,并断章取义一下:
Milton Friedman
Economics Dictionary: Milton Friedman
An American economist of the twentieth century. Friedman has defended free enterprise and attacked government regulation of the economy. He has condemned socialism as an economic failure and celebrated capitalism for combining prosperity with personal liberty. (See also monetarism.)
Columbia Encyclopedia - People: Friedman, Milton (frēd'mən), 1912–2006, American economist, b. New York City, Ph.D. Columbia, 1946. Friedman was influential in helping to revive the monetarist school of economic thought (see monetarism). He was a staff member at the National Bureau of Economic Research (1937–46, 1948–81) and was an economics professor at the Univ. of Chicago (1946–82). Much of Friedman's early work is notable for its arguments against government economic controls. His writings dismissed Keynesian theories on consumption, price theory, inflation, distribution, and the money supply (see Keynes, John Maynard). His most famous empirical work is A Monetary History of the United States, 1867–1960, coauthored with Anna J. Schwartz (1963). The book charts the relationship between general price levels and economic cycles and the government's manipulation of the money supply. Friedman also predicted that the spending associated with government programs would interact with the “natural rate of unemployment” to result in the stagflation of the 1970s. He won the Nobel Memorial Prize in Economic Sciences in 1976 and was an adviser to the Reagan administration in the 1980s. A prolific writer, Friedman also wrote Capitalism and Freedom (1964, rev. ed. 1981), Politics and Tyranny (1985), and Monetarist Economics (1991). With his wife, Rose, he wrote Free to Choose (1981), The Tyranny of the Status Quo (1984), and Two Lucky People: Memoirs (1998). He also was a columnist for Newsweek (1966–84) and a frequent television commentator.
Quotes by Milton Friedman
"A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself."
"The government solution to a problem is usually as bad as the problem."
"Governments never learn. Only people learn."
"Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government."
"The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system."
"Inflation is one form of taxation that can be imposed without legislation."
‘Where Have You Gone, Milton Friedman?’ By: Christopher Ruddy
If Simon & Garfunkel were still recording today, they might pen a hit new song, to the beat of “Mrs. Robinson,” titled “Where Have You Gone, Milton Friedman?”
The Nobel Prize-winning, free-market economist died in 2006. But Friedman was not only a brilliant theoretician, he was an articulate advocate for our free-enterprise system. President Reagan awarded him the Presidential Medal of Freedom in 1988.
I remember as a high school student watching his TV program on PBS, “Free to Choose.” Friedman’s ideas became the underpinnings of the Reagan revolution, not to mention Margaret Thatcher’s privatization movement that helped leapfrog Britain’s economy.
Today capitalism is under attack as never before and Milton Friedman is not here to defend it.
President Barack Obama and congressional Democrats are blaming capitalist greed for the current economic crisis, seeking to make scapegoats out of the “rich,” banks, Wall Street — the entire capitalist system.
Their solution is more government, more spending, and higher taxes.
......
Friedman's point is not that capitalism is perfect, but that it is better than all the other systems. Consider that the United States has just 5 percent of the world's population, but its free-enterprise system produces 25 percent of the world's GDP.
(Christopher Ruddy is Editor-in-Chief of Newsmax and publishes Financial Intelligence Report. He is a conservative American journalist. He is currently the CEO of Newsmax Media which publishes Newsmax.com, one of the top ranked news web sites in the United States)
References to Milton Friedman in mayacafe before:
Ammzon New Releases in Economics Books July 03/11/09
Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis (Hoover Institution Press Publication) (Hardcover) by John B. Taylor (Author)
If Milton Friedmanand I had written as persuasive an analysis as this, one year—rather than 30 years—after the Great Depression began, the United States might have had a typical recession rather than the greatest downturn in history. --Anna Schwartz, author, with Milton Friedman, of The Great Contraction, 1929–1933
Alan S. Blinder: Keynesian Economics touche 01/22/09
...... Even Milton Friedman acknowledged that “under any conceivable institutional arrangements, and certainly under those that now prevail in the United States, there is only a limited amount of flexibility in prices and wages.”1 In current parlance, that would certainly be called a Keynesian position.......
中国崛起对于世界的伟大意义。(重量级文章,不要错过。) abc 01/03//09
......从费里德曼的货币理论到格林斯潘的美联储实践,本质上他们都信奉自由资本主义。
但是我们知道,包括费里德曼的货币理论在内的几乎所有经济理论,都是对复杂的人性做了过于简单的假设后推导出来的,实际是不太靠谱的。因此,现有的几乎所有经济理论,给人提供的只是认识经济现象的一种视觉,而不是严格科学意义上的计算公式。
费里德曼的货币理论想从理论上证明,自由货币政策是货币政策的最优解。格林斯潘在美联储近20年的实践一直是用自由的方法实现美国经济体系的稳定,比如用利率和准备金率等自由手段管理美国货币体系。
一点点自由,才是真正的自由。
费里德曼主张市场不应该有政府干涉,凯恩斯主义者主张的各种积极的需求管理政策除了对价格信号产生更大的干扰之外,对提高产出扩大就业就没有什么多大的用处。
费里德曼自由货币理论的重要假设是经济体系会自动实现稳定,这不符合实际。在经济系统出现偏差的情况下,政府的纠偏行为就必不可少。
中国如果教条地采用费里德曼的货币理论,不知道要乱成什么样子。美国出现金融危机时,必然放弃费里德曼的自由货币理论,而进行政府干预。
【书单】改变美国的二十本书 20 Books that Changed America rzp 12/12/08
11. The General Theory of Employment, Interest and Money John Maynard Keynes, 1936 So crucial were the theories of this British economist that the thirty years of Western prosperity from 1945 to 1975 have been called the Age of Keynes. Here, he laid out the economic principles that drove Franklin Delano Roosevelt's New Deal; the economist believed that stimulus from governmental regulation or through investment was good for the economy. The book, McCann says, like Milton Friedman and Anna J. Schwartz's similarly important A Monetary History of the United States, 1867-1960, "acted directly and indirectly to fundamentally transform the economic and political landscape of the U.S." Of both titles McCann says: "Their importance can't be overstated."
We Forgot Everything Keynes Taught Us By Robert Skidelsky zt 10/19/08
The magical formula for success was supposed to be the new "science" of monetary management. From the fact that depressions were associated with falling prices and booms with rising prices, the economist Irving Fisher concluded that economic cycles could be eliminated by keeping prices stable. Under his influence, the Federal Reserve Board set itself the goal of price stability. And the price level did stay remarkably stable for most of the 1920s.
Fisher's views were discredited by the stock market crash of 1929, but his doctrines were revived by Milton Friedman in the 1970s. Plagued by inflation, governments around the world took up Friedman's monetarism, which maintained that inflation was due to governments' printing too much money. Central banks were made independent (the Fed already was) and were given the single task of keeping prices stable. Moreover, financial innovation in increasingly deregulated markets was said to make investment less and less risky. The formula seemed to work. Not only did inflation stay low -- not once did it exceed 4 percent between 1991 and 2006 -- with very little price volatility from the 1990s onward, but the U.S. economy showed strong, though not particularly steady, growth of 3.22 percent on average. Once again, perpetual prosperity beckoned.
So what went wrong?
算一下美国金融危机有多严重 (ZT from Wenxuecity) 令胡冲 10/14/08
经济学家的乌龙事件太多了,费德曼(Milton Friedman,1975年诺贝尔经济奖得主)的自由经济理论用在南美洲,搞垮了南美洲的经济。我们还没有学到教训吗?
《泰晤士报文学评论副刊》近50年来最具影响力的一百本书 July 07/20/08
Milton Friedman: Capitalism and Freedom 《资本主义与自由》,《泰晤士报文学评论副刊》近50年来最具影响力的一百本书之一。
什么是科学?-- 这是知名专家关于什么是现代经济学的说法 abc 08/04/08
......在本质上经济学不应同数学相类比。经济学同物理相类比则更为恰当,因为物理是研究自然界中的物质世界的自然科学,而经济学是研究社会中的经济世界,两者都是科学,其理论都必须经过经验数据的检验。而数学理论是不需要用数据来检验的。当然经济学与物理学很不同的一点是,除极少数的情况外,经济学无法象物理学那样做可控实验。因此,相对于物理学而言,经济学不得不更多地依靠假定和数学推理来推断。这可以解释经济学方法论上的两个特点。其一,经济学对假定的现实性非常关注。弗里德曼(Milton Friedman)的著名的有关假定不重要、只要预测正确的经济学研究方法论之所以不可取,就在于它没有考虑到经济学研究不同于自然科学研究的基本困难是可控实验的不可行性和用经验数据直接检验结论的有限性。其二,这也说明为什么经济学中超越现实的数学推理有相当大的空间。但是最终而论,由于经济学是社会科学,经济学作为整体必须瞄准事实,与经济现实相关。
全球公共知识分子排行榜 Zangxi 06/11/08
米尔顿·弗里德曼(Milton Friedman),全球公共知识分子排行榜(2005)Bonus Ball头前一个名字,并不代表新的思想。(Who voters believe should be included on the original longlist of Global Public Intellectuals Poll.)
MILTON FRIEDMAN,
The New Jersey-raised son of Hungarian immigrants is most famous for championing individual freedom and for arguing that taxes should be cut “whenever it’s possible.” His theory of?monetarism, which emphasises the importance of control of the money supply, replaced Keynesianism for a time as the dominant strand in economic theory. Friedman’s work at the University of Chicago propelled his ideas into the political mainstream, and in 1976 he was awarded the Nobel prize in economics. His views, transmitted via Keith Joseph and the IEA, influenced the policies of the early Thatcher governments.
ZT 林保华:佛利民与赵紫阳会晤的回忆 wukong 12/25/06
佛利民(Milton Friedman)是一个可以直率及对中国进行批评及提供建议的学者。
未来货币启示录/货币理论中的十三太保 七格 12/16/05
弗里德曼(Milton Friedman),货币理论中的十三太保之一
在瓦尔拉斯一般均衡基础上,弗里德曼把货币数量论引到了一个新的方向上,来和凯恩斯老大做无极对抗。在他的理论中,货币导致产出波动,进而引起持续通货膨胀。为此,他通过一系列数据的相关分析给予了证明。但这个证明是有逻辑破绽的:证明的仅仅是相关性,并不是单向的因果性,就是说,根据这个相关性,我也能得出产出导致货币波动这样的可逆因果关系,也就是说,正是人们预期到将来会有一个大的经济发展空间,所以才会增加货币供给。由于弗里德曼的说法更符合切中当时欧美经济恶化的时弊,所以不懂经济学但懂政治学的撒切尔和里根还是相继采纳了他的政策,强行压住利率维持不变。最后,政治家们赌赢了,货币太保们兀自还吵个不停。
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