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Gingersnap
09-02-2008, 01:59 PM
University's Plans for Milton Friedman Institute Spark Outcry

By Kari Lydersen
Washington Post Staff Writer
Thursday, August 28, 2008; Page A03

CHICAGO, Aug. 27 -- Plans by the University of Chicago to establish a research institute named after legendary free-market economist Milton Friedman have caused an uproar at the school on the city's South Side.

More than 100 tenured faculty members have signed letters and a petition opposing the institute, which would be paid for by private donations and would conduct research in economics, medicine, public policy and law. Critics say that they are concerned the institute will be a partisan, elitist organization and that it shouldn't be under the auspices of a university.

"There are a lot of aspects that look like a right-wing think tank. I'm very worried about that possibility," said Bruce Lincoln, a professor of the history of religions who helped draft the letters and petition. "People are concerned about the blurring of the line between Friedman's technical work in economics and his fairly well-known persona as a political advocate of a very pure, free-market conservative or neoliberal position, where the market is the solution to everything."

The institute was launched this summer with about half a million dollars in university seed money and is seeking $200 million in private donations of $1 million or more.

The opponents' petition voices concerns that wealthy donors would have inordinate influence over the institute's research. The petition also said that Friedman-esque positions, such as privatization of Social Security, would be foregone conclusions, and that the state and nongovernmental organizations would be regarded with "distinct suspicion."

University Provost Thomas Rosenbaum said such fears are unfounded.

This is so amusing because no one ever heard of a university research and policy institute that expressed a particular political or social viewpoint. That has never, ever happened in the history of American academics.:rolleyes:

Washington Post (http://www.washingtonpost.com/wp-dyn/content/article/2008/08/27/AR2008082703193.html)

Goldwater
09-03-2008, 01:39 AM
Milton Friedman is responsible for millions of peoples' lives living past the age of 30.

mark1
09-04-2008, 03:42 PM
Like there aren't enough left wing think tanks on college campuses.:rolleyes: Besides, Friedman was more of a libertarian than a conservative.

Friedman was one of the best economists of the last 50 years. In fact, he was the best. Everything that he wrote had both logical and actual evidence to back it up.

By the way, Professor Lincoln, the free market is the answer to everything.:D

Constitutionally Speaking
09-06-2008, 01:58 PM
Like there aren't enough left wing think tanks on college campuses.:rolleyes: Besides, Friedman was more of a libertarian than a conservative.

Friedman was one of the best economists of the last 50 years. In fact, he was the best. Everything that he wrote had both logical and actual evidence to back it up.

By the way, Professor Lincoln, the free market is the answer to everything.:D


Friedman was one of the best, and a good man also,but his main claim to fame was flawed because he did not take into account that the velocity of money has varied widely since we went off the Gold Standard.

Given the stability of velocity during the period of history when we were on the gold standard, Milton was absolutely correct, but since we went off it, the equation has some short comings. Still, Milton was a champion of free markets and on that he was absolutely correct.

mark1
09-07-2008, 06:55 PM
Friedman was one of the best, and a good man also,but his main claim to fame was flawed because he did not take into account that the velocity of money has varied widely since we went off the Gold Standard.

Given the stability of velocity during the period of history when we were on the gold standard, Milton was absolutely correct, but since we went off it, the equation has some short comings. Still, Milton was a champion of free markets and on that he was absolutely correct.

Yeah, but I believe that the bulk of Friedman's work, especially what he won the nobel prize for, was completed before August 15, 1971, when Nixon took us off of the Gold Standard. If Milton would have anticipated this, I am sure that some of his theories would have been different.

Constitutionally Speaking
09-11-2008, 05:41 PM
Yeah, but I believe that the bulk of Friedman's work, especially what he won the nobel prize for, was completed before August 15, 1971, when Nixon took us off of the Gold Standard. If Milton would have anticipated this, I am sure that some of his theories would have been different.

No doubt. He was one of the most brilliant people I have ever known.