Word: offing
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Dates: during 1960-1969
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REACTION to his ideas, says Milton Friedman, follows "a certain scenario." Act I: "The views of crackpots like myself are avoided." Act II: "The defenders of the orthodox faith become uncomfortable because the ideas seem to have an element of truth." Act III: "People say, 'We all know that this...
That statement sums up Friedman. He is the rare theorist whose influence is best measured not by the devotion of his followers?though that can be extreme?but by the extent to which his ideas have altered the thinking of his opponents. The mixture of supreme self-confidence and good...
Friedman is a man totally devoted to ideas?isolating them in pure form, expressing them in uncompromising terms and following them wherever they may lead. His basic philosophy is simple and unoriginal: personal freedom is the supreme good?in economic, political and social relations. What is unusual is his consistency...
His son David, 24, calls him a "libertarian anarchist" who even raised his children by free-market rules. Friedman once offered David, then ten, and his older sister Janet a choice of Pullman berths for a cross-country train trip, or the extra price of those berths in cash. The...
Faith in the free market has caused Friedman to condemn many Establishment institutions as monopolies. His targets include the New York Stock Exchange?in his view, a brokers' commission-fixing cartel?and the public-school system. He contends that the Government should issue vouchers that parents could cash at any...