The most influential economist of the late 20th century, Milton Friedman, had a revolutionary effect on today’s world. The turn of 1980 marked a rebirth of economic liberalism and monetarism, a departure from the misguided stop-go monetary and Keynesian fiscal policies. The work of Friedman gave free market leaders in Reagan and Thatcher the frameworkContinue reading “Friedman’s Fallacies”
Tag Archives: monetarism
The Economic legacy of Thatcher’s government
Margaret Thatcher became Prime Minister in 1979 at a time of political and economic turmoil. The inflation rate had reached over 25% just three years prior, unions were striking at every possible opportunity, the country was in a mess. At the same time, economic growth had stagnated with unemployment reaching a 30-year high of 7%Continue reading “The Economic legacy of Thatcher’s government”
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