Milton Friedman believed a lot of silly, wrong, or wicked things. I don't endorse all his views because he agreed with me on one of them. I don't say that all his views were consistent either. I also think that leaving aside the ideological language, the notion that there is a trade off between unemployment and inflation is not crazy, and there may be an unemployment point below which inflation increases at a disturbing rate -- leaving other anti-inflation devices aside. Now, just to make the it clear, Milton Friedman believed a lot of silly, wrong, or wicked things. I don't endorse all his views because I think there may have been some merit to one or more of them. I don't say that all his views were consistent either.
--- John Thornton <jthorn65 at sbcglobal.net> wrote:
> >
> > On 9/26/07, andie nachgeborenen
> <andie_nachgeborenen at yahoo.com> wrote:
> >
> >
> >> Well, I am a socialist as well as a liberal, so I
> >> agree that the best _social order_ involves a
> right to
> >> a job or income. You can call that a political
> right
> >> if you want, there are arguments to be made for
> doing
> >> so, although I don't call it political but social
> and
> >> economic myself; but whatever terms you use we
> agree
> >> that a right to a job or income is a real right.
> Btw,
> >> Milton Friedman thought it was, if not a right,
> then
>
>
> Yes but Milton also believed in the nonsensical
> concept of a natural
> rate of unemployment. That undermines the right to a
> job more than just
> a little.
> Keeping the unemployment rate high enough to drive
> down wages sounds
> crass so better we should disguise that idea with an
> scientifically
> objective sounding name. Who can object to the
> 'natural' rate of
> something except cranks, right?
>
> John Thornton
>
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