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Interesting ideas. I respectfully disagree with all of them. Do you have any evidence to back them up, or are you yourself "just [...] making things up that so

• bryanlarsen 2y ago
  Perhaps Friedman's most widely known saying is that "inflation is a monetary phenomenon". In the last 30 years the correlation between money supply expansion and inflation has been low. OTOH the correlation between supply shocks and inflation has been high. A real science would update in the face of contradictory evidence. Some economists have, but most haven't.
  • zdragnar 2y ago
    We did see massive inflation in subsectors of the broader economy, though, and there were a lot more monetary policy levers moving than just supply expansion.
• spicyusername 2y ago
  The outcomes of public policy throughout the 1900s, particularly pre-Reagan and post-FDR. Quite expansionary, but nearly all of the bedrock institutions most people have come to rely on and take for granted materialized in this period. - The GI Bill - Medicare / Medicaid - Social Security - Unemployment Insurance - Regulatory institutions / policies like the SEC, FDIC, OSHA, and the EPA. - The Civil Rights Act None of this stuff just happens by accident, and these kinds of things definitely don't magically fall out of unregulated free-markets. And they DEFINITELY don't fall out of markets where the participants are massive corporate interests. You need institutions whose focus is solely on social / economic wellbeing and who have the power and authority to provide it. There are also plenty of modern academics, making things up themselves, who articulate similar points. - Joseph Stiglitz - Thomas Piketty - Ha-Joon Chang - Mariana Mazzucato - Robert Reich - etc