Word: friedman
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Still, Harvard created opportunities, and onlookers could only wonder what might have been with the Crimson at full strength. With 20 minutes left in the first half. Dave Eaton volleyed toward the goal an Alberto Villar crosspass only to watch B.U. keeper Howie Friedman make a fine reflex save to knock the ball over...
With 13:50 left, Harvard seemed to have jumped in front on a miraculous Walter Diaz turn-around shot from 50 feet that appeared to loop over Friedman into the back of the goal. No such luck. The ball instead, landed on top of the netting behind the goal-line...
With 40 seconds left on the clock, Harvard had its last chance, a free kick just outside the B.U. penalty box. John Sanacore sent a booming, curving shot toward the top left-hand corner of the net. A diving Friedman blocked the ball, thwarting Harvard, preserving his shut-out, and securing the Terriers...
...monetarists, those epigones of Milton Friedman who are among the only Americans with reason to rejoice over Volcker's moves, waffled. For the first time a financial official seemed to be taking their advice to heart; conservative monetarists have called for direct control of the money supply for years. But Friedman wrote a week after the program's announcement that the new Fed policy had to be fully carried through or it wouldn't work. In other words, if the policy reduces inflation then the monetarists will take credit, but if it doesn't they can say their ideas failed...
...should people understand that inflation and oil prices are bound up when their top economic officials and their media economists, like Newsweek's Friedman, tell them they aren't? Volcker's path leads to economic chaos, not because economists don't understand how it will work, but because it ignores principles even non-economists can understand...