When I was in graduate school in Economics in 1971 we had to take an 8 hour
qualifying exam. The last question was: Compare and contrast the monetary
models of Friedman, Galbraith, and Patinkin. We had 1 hour to answer the
question.

After a moment to reflect, all us were writing. Five minutes into the
session, one student got up, turned in his paper and walked out, Loser, we
thought. Fifty-five minutes later we were still scribbling furiously when
the gong sounded. The only "A"? You guessed it, the alleged Loser.
His answer?

Friedman: money matters
Galbraith: money doesn't matter
Patinkin: Neither of those guys matter, only wealth matters.

--
jlrogers±³©
"Gilligan" wrote in message
. ..

"DSK" wrote in message
...
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.


Gilligan wrote:
Do I get three points?

You didn't explain it!

Anyway, my license to award points has just been revoked.

DSK


I was robbed!