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Milton Friedman RIP
jlrogers±³© wrote:
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. Maybe you meant Keynes, not Galbraith? DSK |
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