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But it is the thesis concerning boys that has been more controversial. Having two maternal objects, says Friedman, "creates a division in [the boy's] mind between the woman he knows to be his natural mother and the woman with whom he has a real hands-on relationship: the woman...
It's unclear how wide a cross section of society Friedman used to draw his conclusions, but it's possible they may have been a bit skewed. His previous three books were explorations of the psychology of a small but prominent group of people with powerful matriarchs and lots and...
You know Adam Smith for his "invisible hand," the mysterious force that steers the selfish economic decisions of individuals toward a result that leaves us all better off. It's been a hugely influential idea, one that during the last few decades of the 20th century began to take on...
Lately, though, the invisible hand has been getting slapped. The selfish economic decisions of home buyers, mortgage brokers, investment bankers and institutional investors over the past decade clearly did not leave us all better off. Did Smith have it wrong?
Applying Smith's teachings to the modern world, then, is a much more complex and doubtful endeavor than it's usually made out to be. He certainly wouldn't have been opposed to every government intervention in the market. On financial reform, it's easy to imagine Smith supporting the...