Gilligan wrote:
Pay the debt with inflated currency.


When the debt is one of the drivers of inflation, how is
inflation going to oustrip debt? Isn't this like putting the
cart before the horse?





This thread got side tracked somehow. What I started out to say, for 1
ASA/economist point, can anybody answer what economic theory did Friedman
produce? 2 points if you can explain it.



I don't think he produced any new economic theory but rather contributed
deeper understanding and refinement to old ones.


AFAIK he definitely invented something new, but five or six
minutes of googling has failed to produce a reference to it,
unless you already know the specific term.

DSK