Friday, January 13, 2006

Milton Friedman: still going strong at 92

Here is a broad ranging interview with Nobel Laureate Milton Friedman. Friedman's ideas on exchange rates, taxes, the military draft, schooling, and the like have had a powerful influence over the last 50 years. Robert Kuttner opens the interview

RK: You have obviously had the enormous satisfaction of seeing your ideas influence a revolution, both in the thinking of economists and in the premises of politics and the role of government. Does this make you any more optimistic about the ability of the political process to work, and of government to learn over time?
MF: I’ve always been realistic about this. I do not think you can change [government].
RK: Well at least it seems to prove that ideas have
influence.
MF: There is no question that they have influence. You know, I agree very much with the famous quotation from Keynes. Sooner or later, ideas matter.