Milton Friedman’s Nobel Prize address has a message for today
The great economist and philosopher of freedom Milton Friedman, died today. He gave his 1976 Nobel Prize lecture at a time of great economic uncertainty in the world. At that moment in time no one knew that inflation was conquerable in the way that Ronald Reagan and Paul Volcker annihilated it a few years later. Professor Friedman concluded his lecture with these words, which might apply to the issue of Islamofascism today as they did to the issue of inflation thirty years ago. For us today, “the present situation cannot last.” And for us too “ideological warfare” amongst ourselves in America is not going to solve the problem. Rather it will be, once again, “brute experience” that makes the difference:
America is deeply divided today. It would be useful for both sides of the mainstream to “be gracious as to intentions.” War is coming our way, whether we like it or not. The aggressor sets the agenda, and the aggressor advertises his intentions — every single day — for world domination and the elimination of certain countries. It would be good if we could find common ground that is not rooted in tragedy — before terrible events come our way.


November 17th, 2006 at 1:40 pm
“War is coming……” The war is here and we are chosing to bury our heads in the sand. Hopefully we will wake up soon and prosecute this war like it is a war or I am afraid Bin Laden will have been right about us.