Ryan Bourne is Head of Economic Research at the Centre for Policy Studies, which hosted the event ‘Friedman at 100’ on July 3rd. The full transcript from the event can be found here, and the videos of it are available at our YouTube channel.
Today would have been the great economist Milton Friedman’s 100th birthday — he was the most significant and effective proponent of free market economics we’ve ever seen. Though he died in November 2006, his ideas have had a lasting effect on the great fight for economic and personal freedom.
Earlier this month, the Centre for Policy Studies hosted a high-profile event to discuss the legacy of his work. It’s easy to forget just how much he achieved. A Nobel prize winner in Economics, Friedman’s work advanced the subject in many areas. His work on individuals’ consumption patterns remain a cornerstone of almost all applied economics. He advocated floating exchange rates following the collapse of the Bretton-Woods system. He debunked the idea of the Phillips curve — that Governments could manage policy in the long-run by trading off inflation and unemployment — and was subsequently vindicated during the stagflation of the 1970s.