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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...
...Free to Choose, Milton & Rose Friedman...
...Free to Choose, his popular public television series, Economist Milton Friedman stands before Boston's Hyde Park High School as uniformed guards search entering students for weapons. In a voice-over Friedman says: "Parents know their kids are getting a bad education but . . . many of them can see no alternative...