Milton Friedman - on challenging the status quo

Quote by American economist Milton Friedman on the role of economists challenging the status quo, his mentioning of crises seeming to be the only naturally occurring engine of changing the status quo is very perceptive. His view on this matter is very similar to his economist rival though personal friend John Kenneth Galbraith, who wrote on the topic of conventional wisdom involving comfortable and popular notions as being stubborn and slow to change and usually only change due to events forcing the status quo to be altered.


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