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What Milton Friedman Intended

March 2, 2012 1 minute Read by Amity Shlaes

This story begins 10 years ago, when Bernanke, then a mere Fed governor, publicly honored Friedman on Friedman’s 90th birthday. Friedman had often suggested that a more vigilant Fed would have prevented the strong deflation that featured in the early part of the 1930s, that monetary intervention and change in policy might have prevented the Great Depression. The full text posted on Bloomberg.com here: http://www.bloomberg.com/news/2012-03-01/bernanke-can-t-blame-sins-on-milton-friedman-commentary-by-amity-shlaes.html This post was written by Amity Shlaes, Director of the 4% Growth Project. Find her on Twitter @AmityShlaes