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Patrick Sullivan said...

Condolences.

He was a great man and a great econommist. We'll never see his like again.

In the last 25 years there have been only two (short and mild) recessions. In the previous 25 years there were six, and several of them quite severe.

The difference is in the one quarter century Milton Friedman was considered an eccentric. In the other, his way of thinking about the Quantity Theory dominated the Fed's thinking.

Nov 17, 2006, 12:58:00 AM

Posted to M.F.