Monday, July 20, 2009

Blockquoting X

X = Milton Friedman:
There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agreement that these goals are mutually compatible or, among those who regard them as incompatible, about the terms at which they can and should be substituted for one another. There is least agreement about the role that various instruments of policy can and should play in achieving the several goals.
These words were penned in 1968. Is there any more agreement among economists today?

3 comments:

davidncl said...

Dramatically, even terrifyingly, less.

Many would now suggest that growth is in fact evil, since it harms gaia - or causes alienation or summat.

Will Luther said...

Who are the economists that "suggest growth is in fact evil"?

Justin M Ross said...

Steve Marglin, and it seems Robert Frank moves closer to that camp on almost a weekly basis.