Is David Friedman a follower of the Austrian School of Economics? I know his father was the founder of the Chicago School, but I also know David Fiedman is an anarcho-capitalist. Is there a branch of the Chicago School that doesn’t defend the Federal Reserve?

“Milton Friedman and “quantity theory of money” are almost synonymous!” Well then that just shows how ignorant many people are. Friedman did contribute something associated with the quantity theory - Friedman’s Plucking Model. But The Quantity Theory per se goes way back before Friedman.

Well, yeah, you can even find it in Hume. The point is that Friedman’s research is heavily associated with the issue of money, and I’m not sure how any one can miss that fact.

Uhm what? It’s his story that the biggest bank was allowed to collapse due to being jewish owned. I’ve seen “Free To Choose”.

its a bit of a red herring isn’t it? Milton didn’t think that it would have been prudent to bail out ‘jewish’ banks ‘in particular’, rather ‘banks in general’ and these ones in this story just happened to be ‘jewish’ (whatever that means). The ‘jewish’ may explain why they were not bailed out by the…

Yeah, I know of the quantity theory of money, monetary velocity and so on. But all of this still takes money as a given. Money could be fiat pieces of paper or ledger entries or computer bits or gold coins. What I don’t know of is any place where Friedman outlines something like a Mengerian account…

nirgrahamUK, don’t make a mountain out of a grain of sand.

sorry, i was trying to help you clean up some confusion you left lying around. nevermind.

“Did Friedman ever acknowledge that money can be privately produced?” Of course. How could anyone familiar with monetary history deny that? The U.S. had private bank money in the 19th century. That’s like asking if he ever acknowledged that two and two are four, or that England exists. This is pa…

“Well, yeah, you can even find it in Hume.” I remember my father commenting, possibly in a speech or essay, that it was easier to say what we had learned about the quantity theory in the past century than what we had learned in the past two centuries, since large parts of what we now know–and what …

I remember my father commenting, possibly in a speech or essay, that it was easier to say what we had learned about the quantity theory in the past century than what we had learned in the past two centuries, since large parts of what we now know–and what people didn’t know earlier in the 20th centu…

Is David Friedman an Austrian?

Economics Economics Questions

JoeTerp August 4, 2010, 9:09am 64

To back up Grayson, see this thread

It would be like watching a MLB teams single A affiliate, judging them on MLB standards, and concluding that the major league team had bullpen issues.

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Is David Friedman an Austrian?

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