I don't need to tell you how much we all those who are honored guest this evening when milton friedman came onto the intellectual scene in the nineteen forties many of his ideas were considered heresy his doctoral dissertation on monopolies in the medical profession was so controversial at its release was postponed until after the end of world war two his ideas about free markets in monetary policy toward the conventional that conventional keynesian world upside down forever changing
the world's macro economic landscape doctor friedman has eliminated the importance of preventing government from manipulating markets he's drafted all whole series of constitutional amendments
the limit taxation and government spending delimited f to limit the money supply chaps and government interference with market pricing mechanisms professor friedman's views remained very controversial here in Washington indeed the very thought of being on able to manipulate the money supply it to win reelection will impose a terrified quoted to protect day politically important constituency
or to control the price of something is important is oil or health care the thought of not being able to do that inflames the white house and capitol hill with angry passion but out there in the real america
free markets in freeman understand doctor friedman views by virtue of their clarity and authority
many of these ideas have left the world opinion and entered the rarefied air of facts degraded and age of the for reticent about what commerce did not review hedges pets or question his ideas to make them politically fashionable like a great president he inspired instead of catering to the conventional wisdom he redefined convention is with the opening shots of the reagan revolution and indeed we see
that they were shots heard round the world except maybe in little rock somewhere like to call is notions conservative but doctor friedman was neither conserving your inventing is political philosophy
he was rediscovering it reclaiming the lost intellectual heritage of the classical liberals such as adam smith and john lau in this respect he as well as the cato institute are profoundly liberal and furry discovering what it is to be an American and what it is to be free well you know milton friedman the chicago school you found it and the cato institute a great day the apple auger dr friedman's book money mischief leads with words spoken on the floor of the french national assembly in september
of seventeen ninety and I quote gentlemen it's a disagreeable custom to which one is too easily led by the harshness of discussions to assume the evil intentions it is necessary to be gracious as to intentions one should believe them good but we do not have to be gracious at all two inconsistent logic or absurd reasoning badly gestion xep committed more involuntary crimes than bad man
have done intentionally close quote the gentleman who spoke those words was the deputy from the more my great great great-great-grandfather pierre samuel dupont two hundred and three years later it's very clear that milton friedman has exposed more inconsistent logic an absurd reasoning than any person sense ladies and gentlemen is a great honor to present to you the nobel prize winner economic trailblazer author scholar statesmen and champion of political freedom an economic liberty doctor milton friedman thank you very much for that to embarrass me it's a great honor for me to be introduced by pete dupont who was kept alive that tradition which is why i think i don't know i have a great week you reports great to the fourth group power grandfather uh...
enunciated there in a revolution friends here's what's your politicians in this country was consistently stock two principal as not modified his principal was one of those brought that everybody has who believe everything you say baat and i'm delighted also to be here on that on the occasion of the
establishment of the cato building since i thought i was inadvisable to build the building but I thought so thought Iwas in advisable for them all out from san francisco otherwise to move from what from paradise to leave all city but they survived week so they survived the move and uh...