Interview with Milton Friedman

by on February 5, 2006 at 6:18 pm in Economics | Permalink

Here it is.  Excerpt:

Germany’s problem, in part, is that it went into the euro at the
wrong exchange rate that overvalued the deutsche mark. So you have a
situation in the eurozone where Ireland has inflation and rapid
expansion while Germany and France have stalled and had the
difficulties of adjusting.

The euro is going to be a
big source of problems, not a source of help. The euro has no
precedent. To the best of my knowledge, there has never been a monetary
union, putting out a fiat currency, composed of independent states.      

Thanks to www.2blowhards.com for the pointer.

Addendum: Here is an interview with Gary Becker, who talks about Friedman, John Nash, Dostoyevsky, and Brokeback Mountain.  Thanks to Freakonomics blog for the pointer.

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