00:00    |    
Initial credits
00:06    |    
Introduction by Lisardo Bolaños
00:42    |    
Why is Milton Friedman still relevant in today's world?
Life story
04:44    |    
Do Rose and Milton Friedman come from a tradition of suffering?
Family ancestry
Age of Enlightenment
Arrival in New York
Enthusiasm about economics
Importance of understanding an opponent's arguments 
TV anecdote
Experiment with different ideological positions
12:24    |    
Have you been surprised by the outcome of experimenting different ideological views?
14:06    |    
Milton Friedman's early life
15:07    |    
How was Milton Friedman influenced by his hard-working mother?
Sense of social mobility
Health and safety regulations
Regulation and deregulation
Weakness of capitalism
21:00    |    
Can you explain Milton Friedman's k-percent rule?
Separation of powers
Idea of a central bank
Taylor's rule
Milton Friedman's first macroeconomic model
Legitimate role of the state
Balance of budget
Cyclical monetary policy
Monetary policy rule project
Alban William Housego (Bill Phillips)
Hydraulic macroeconomics
Invitation to Bill Phillips to work together with Milton Friedman
Friendship with Lionel Charles Robbins
Modeling inflation expectations
Dynamics of knowledge construction and destruction in economics
Fundamental malfunction of capitalism
Social responsibility of banking
Holding reserves and buying second-hand bonds
Capitalism
Social capital
53:39    |    
What is the meaning of Milton Friedman's words: "In one sense, we are all Keynesians now; in another, nobody is any longer a Keynesian?"
Keynesian stimulus package
Problem with the flow in economics
Bubble bursting in capitalism
Challenge of macro
Central collection savings
Auction national savings
Pre-tax savings
01:02:47    |    
Final words
1:02:58    |    
Final credits



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Milton Friedman’s Legacy

31 de julio de 2012   | Vistas: 19 |  

Robert Leeson talks about the legacy of Milton Friedman to the field of economics, and by sharing several different anecdotes, he tells Friedman's personal background and comments on the impact that the crosscurrents of the twenty and twenty-first century had in his life. Leeson makes reference to biographical events such as Friedman's family life in Europe, his wife's family experiences during the Holocaust, his arrival to New York, the impact of his mother's job and the early demise of his father, which somehow, led him to economics.

Through a quick view of American history, Leeson talks about Friedman's major contribution to macroeconomics, the creation of a monetary system, the macroeconomic model, and banking, among others.

Leeson concludes this interview by talking about Milton Friedman’s engagement with the Keynesians and comments on subjects like Keynesians stimulus package, problems of capitalism, and possible banking solutions for better macroeconomics.




Robert Leeson is a prolific researcher and writer of economic journals and text. He is a Visiting Professor of Economics…

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Universidad Francisco Marroquín