idiot when it comes to economics. From Wikipedia:
[link:https://en.wikipedia.org/wiki/Milton_Friedman|]
With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations.
If someone wants to argue that Monetarism or new classical macroeconomics can be a useful tool, then fine. If, however, you reject Keynesian Economics in favor of either Monetarism or New Classical Macroeconomics, then you are a fool.
Here's one of the many examples of what a complete and utter fool Friedman was.
[link:
https://m.signalvnoise.com/milton-friedman-on-the-four-ways-you-can-spend-money/|]
Milton Friedman on the four ways you can spend money
1. You can spend your own money on yourself. When you do that, why then you really watch what you’re doing, and you try to get the most for your money.
2. You can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost.
3. I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch!
4. I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get.
Milton Friedman always had a political agenda. He wanted people to think that government spending was bad and that higher taxes were bad. So, as in the above example, he sometimes gave ridiculous lists. Here is the reality:
1. People are stupid with their own money all of the time. His assertion that people are especially careful with their own money is nonsense. Las Vegas was built on people being stupid with their own money. Loan sharks and check cashing centers depend upon people being stupid with their own money. Bar owners, strip club owners, pimps, and drug dealers depend upon people being stupid with their own money. The list goes on and on.
2. I have always been more careful when I spend money on someone else than myself. If I buy a gift for myself and it turns out badly, oh well. However, what happens if I spend a lot of money on something really stupid and of poor quality for my girlfriend or wife? Things are much worse then.
3. Whenever I have spent someone else's money on myself, I am extra careful. If someone says, "I'm buying lunch" and I order an expensive lunch, they might feel taken advantage of, and I might lose the friendship. At the very least, my friend may not offer to buy me lunch again. In Friedman's attempt to say that the government should not have money to spend, he defies common sense and logic.
4. This is Friedman at his worst. When I was a store manager of a chain of retail stores, I had to decide how much to pay people when I hired them, and how big a raise to give them. If I spent too much on employees, it would kill my budget and it would lessen my store profit. I don't know what world Milton Friedman pretends to live in, but it is not the real world.
To read Friedman is to find him twisting logic and defying the real world over and over again in order to try to distort the real world in order to fit his agenda. You might have liked the economist that Friedman recommended, but Milton Friedman often talks out of his buttocks.
= new reply since forum marked as read
StaySafe
Thank you for the giving me hysterical laughter. I needed that so bad. 
