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The idea that America experienced an erosion of political liberty amid the destruction of Jim Crow is simply impossible to take seriously. Between 1929 and 1976, in addition to the advances in civil rights

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@dada41221526 • 3 Years Ago

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The idea that America experienced an erosion of political liberty amid the destruction of Jim Crow is simply impossible to take seriously. Between 1929 and 1976, in addition to the advances in civil rights

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Price inflation then comes when the economy turns 'of its own accord'and lenders and borrowers then react to the signals in the marketplace indicating that cheap money is available fopr investment. Friedman, arguably, got this one wrong as well, but it is, again, merely a reflection of rational decisions of lenders and borrowers that prevent such "stimulus" from working and delay, but do not mitigate, the price inflation that must result.

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Price inflation then comes when the economy turns 'of its own accord'and lenders and borrowers then react to the signals in the marketplace indicating that cheap money is available fopr investment. Friedman, arguably, got this one wrong as well, but it is, again, merely a reflection of rational decisions of lenders and borrowers that prevent such "stimulus" from working and delay, but do not mitigate, the price inflation that must result.

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[@cden4](/user/profile/cden4) yes agree with you and i also want to including my opinion,Friedman was a brilliant economist whose work in statistical analysis is unrivaled. Hayek was mistaken on the monetary policy views of Friedman. Friedman didn't want government monopoly on money, but we have a govt. monopoly on money, so he created a theory on how central banks should operate. Friedman was actually very sympathetic to free banking. [@Druss](/user/profile/Druss) sir,what is your point of view on this.

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[@cden4](/user/profile/cden4) yes agree with you and i also want to including my opinion,Friedman was a brilliant economist whose work in statistical analysis is unrivaled. Hayek was mistaken on the monetary policy views of Friedman. Friedman didn't want government monopoly on money, but we have a govt. monopoly on money, so he created a theory on how central banks should operate. Friedman was actually very sympathetic to free banking. [@Druss](/user/profile/Druss) sir,what is your point of view on this.