.... But there is a specifc term (also used in
sailing) that is the key to his main monetarist theory, in
fact this is what makes the whole thing work.


Dave wrote:
Dunno what magic words you have in mind, but there's a rather nice summary
on the Op Ed page of today's Journal.

It's just one word.

I read some of the Wall St Journal's stuff on Dr. Friedman,
but like most people who wax eloquent about the political
import of his work, they get the facts of his actual work
pretty much backwards.

Question- if Milton Friedman the world famous economist was
so much in favor of school vouchers, why was he rarely
invited to speak on the subject at political functions?

Answer: because his definition of what a voucher was, and
the importance of universal education, is anathema to those
who make "school vouchers" one of the chief causes.

DSK