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Economic Laws and their Exceptions

Submitted by Scott Scheule on Wed, 2006-11-29 17:30.
Friedman and Galbraith


We met at his favorite restaurant in San Francisco, where I showed him a picture of him standing next to John Kenneth Galbraith, the premier Keynesian and welfare statist of the 20th century. Galbraith towered over the diminutive Friedman. Beneath the picture was a funny line by George Stigler: "All great economists are tall. There are two exceptions: John Kenneth Galbraith and Milton Friedman."

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