Passing of a Giant: Milton Friedman
November 17th 2006 01:46
Any commerce students could recognise the name Milton Friedman, the proponent and guardian of monetarism. His name was the opposite of Keynes who championed government intervention of the economy, the Keynesian economics. And I say any commerce students from any business discipline, be it economics, marketing, finance, accounting or management, the study of economics is a must and without much initiation the names of Friedman and Keynes are clearly embedded in our minds eventhough more than half of us, I would say, would not have a clue of what was learned, yet thier names, we recognised.
Today we salute Milton Friedman, who passed away Thursday in San Francisco at age 94. His contributions to economics was a giant step. His opposition to Keynesian economics created a battle of economic policies vying for the minds of those in power througout the world. But the battle gave birth to the modern economy, from thier works in helping us to learn that to no particular school could claim absolute dominance as the real economy mechanism is nothing but workings of pragmatism.
It's hard to take his passing away as it was too not long ago, he gave a bitting criticism of Hong Kong, his posterboy of a laisser-faire economy, the freest in the world, taking the path of creeping government intervention, and now he is no longer with us to remind and advise our economic journey without hesitation.
Milton Friedman died at the age of 94 on 16 November 2006 of heart failure after being taken to hospital near his home in San Francisco and is survived by his wife and two children.
Today we salute Milton Friedman, who passed away Thursday in San Francisco at age 94. His contributions to economics was a giant step. His opposition to Keynesian economics created a battle of economic policies vying for the minds of those in power througout the world. But the battle gave birth to the modern economy, from thier works in helping us to learn that to no particular school could claim absolute dominance as the real economy mechanism is nothing but workings of pragmatism.
It's hard to take his passing away as it was too not long ago, he gave a bitting criticism of Hong Kong, his posterboy of a laisser-faire economy, the freest in the world, taking the path of creeping government intervention, and now he is no longer with us to remind and advise our economic journey without hesitation.
Milton Friedman died at the age of 94 on 16 November 2006 of heart failure after being taken to hospital near his home in San Francisco and is survived by his wife and two children.
Hats Down For The Free Economist
| 52 |
| Vote |
subscribe to this blog