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Tuesday, December 23, 2008

Chicago School of Economics in battle

Challenge Milton Friedman and his ideas? (source: Bloomberg)

Will this crisis bring more government regulation? Yes.
Will this crisis challenge the core ideas of Chicago school of economics? I don't think so.

"There are no atheists in foxholes and no ideologues in financial crises". Get us out of this mess first, then worry about writing economic theories.