Word: friedman
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Dates: during 1980-1989
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Still, the victory left little to cheer about. The indications were that the heated debate signaled an intensifying round of battles over Thatcher's unflinching dedication to her strict monetarist policies, following the doctrine of U.S. Economist Milton Friedman. She has rigidly controlled the money supply, doubled the value-added tax, cut benefits for striking workers, and slashed $20 billion in public spending for all manner of education, housing and municipal programs. Thatcher defends the brutal cuts on the grounds that she won the election with the candid promise that "things will get worse before they get better...
...Free to Choose, Milton & Rose Friedman...
Indexation, the system of pegging payments such as salaries or Government Social Security benefits to the rate of inflation, is a siren that has attracted supporters on both the political right and left. Milton Friedman, a sometime adviser to Ronald Reagan, has advocated COLAs as a stopgap to mitigate the social disruptions caused by soaring prices while action is taken to bring inflation under control. And Rudy Oswald, chief economist of the AFL-CIO, says, "Indexation allows workers to make up for some of the inflation that has taken place...
...Free to Choose, Milton & Rose Friedman...
...Free to Choose, Milton & Rose Friedman...