Thursday, November 30, 2006

Keynes vs Friedman, not

Brad DeLong says:

From one perspective, Friedman was the star pupil of, successor to, and completer of Keynes’s work.
A very good point. People are often surprised when I say that I am both a Keynesian and a Friedmanite, because they view Friedman as the anti-Keynes. But that perspective is far too simplistic. In my view, unless you have learned a lot of economics from both of these great thinkers, you haven't learned enough. Brad does a nice job of explaining why.