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ECONOMIC DIMENSION (MILTON FRIEDMAN (Nothing can justify: ( parity…
ECONOMIC DIMENSION
MILTON FRIEDMAN
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IDEAS
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capitalism= the opportunities it has offered to men and women to extend and develop and improve their capacities
Nothing can justify:
parity price support programs for agriculture,
tariffs on imports or restrictions on exports,
legal minimum wage rates or maximum prices, detailed regulation of industries,
social security programs which compel people to spend a specified fraction of their income on the purchase of retirement annuity,
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BRETTON WOODS CONFERENCE
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1971: Nixon shock .
cancellation of direct convertibility of US dollar to gold by President Richard Nixon,
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