GLOBAL FUTURE ANALYSIS
OUTLINERS | FRIEDMAN
A very famous American economist, a major influencer of economic politics of governments in the last quarter of the 20th century. Received the Nobel Memorial Prize in Economic Science in 1976. In Friedman's view governments only could disturb economic process for the worse. Friedman can be seen as the counter weight of Keynes who promote the concept of governments being the economic motors instead of the market. Friedman's success is directly related with the defaults of earlier over-Keynesian governmental policies and the fall of communism as it final climax. The re-awareness that the market (the economy) and not the government is the motor of any sustainable economic system is very much accountable to Friedman. His semi-followers has mould his economic view with total opposite (Keynesian) influences. Leading to not a retracting less activities managing (the market more space giving) government, but to governmental funded privatization (as in: one 100% Keynesian) which was even worse than before.
Author: Gijs Graafland
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