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Nobel economist Friedman challenges full employment goal
Nobel Prize economist Milton Friedman warned that the volatile economic climate demands either radical change or acceptance of persistent inflation. He called the goal of full employment a false notion, arguing supply and demand should set economic balance, not government tinkering. He criticized price indexing and welfare state policies, saying government action often worsens inflation and misallocates resources.
MENTIONED IN THIS ARTICLE
Stockholm
Sweden
Miton Friedman
Riedman
Friedman