Word: friedmanism
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Dates: during 1970-1979
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Critics of the Berkeley study are likely to insist that diet still cannot be discounted as a cause of coronaries. But researchers like Drs. Meyer Friedman and Ray Rosenman, cardiologists from San Francisco's Mount Zion Hospital and Medical Center, find that the study's conclusions support the theory espoused by their book, Type A Behavior and Your Heart (TIME, April 15, 1974). The San Francisco doctors have long insisted that the American way of life is hard on the heart. The Berkeley study suggests that they are right...
...cover subjects, Karl Marx and John Maynard Keynes, as news sources." Gerry also interviewed dozens of living experts, including the members of TIME'S Board of Economists. Meanwhile, correspondents in the U.S. and Europe reported the views of both friends and foes of the system, ranging from Milton Friedman to Herbert Marcuse. Ironically, the enemies of capitalism seem to have more faith in its adaptability than some of its proponents. One forceful advocate of the system, Senior Editor Marshall Loeb, who edited the story, considers flexibility one of capitalism's greatest strengths: "It's a difficult system...
...will be needed by the underclass of citizens who cannot find a secure place in the market economy: reservation Indians and welfare mothers, among others. For them, society should provide some form of guaranteed income, an idea endorsed in the past by such conservatives as Richard Nixon and Milton Friedman. Conservatives note that it is better to give special help to problem groups than to pump up the whole economy and propel inflation...
British Historian Arnold Toynbee has glumly predicted that the commodity-producing nations will launch a kind of economic siege warfare against the Western capitalistic world, which will react by putting its own economies "in irons"?that is, dictatorially regulating all production, consumption and investment. U.S. Economist Milton Friedman, a disciple of Adam Smith, darkly suspects that capitalist freedom will turn out to be "an accident" in the long sweep of history, and that humanity will sink back into its "natural state" of "tyranny and misery...
...which are forcing the pace of our present withdrawal from Vietnam, which are leading the battle against the great corporations on the issue of pollution, and which at the last congressional elections retired a score or more of the more egregious time-servers, military sycophants, and hawks." And Milton Friedman has recognized, with less glee, that "The University is by design and effect the institution in society which creates discontent with existing moral, social and political institutions and proposes new institutions to replace them. . . . The University is inherently a disruptive force." To preserve these inherent qualities, Professor Lipset adopts...