Milton Friedman

Writing for PS since 1997
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Milton Friedman (1912-2006), a Nobel laureate in economics and Senior Research Fellow at the Hoover Institution, served on President Ronald Reagan's Economic Policy Advisory Board.

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No Third Way to the Market
Paul Lachine

No Third Way to the Market

Jun 9, 1999 Milton Friedman

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Exchange Rate Regimes and East Asia
John Overmyer

Exchange Rate Regimes and East Asia

Oct 7, 1998 Milton Friedman

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The Euro: Monetary Unity to Political Disunity?
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The Euro: Monetary Unity to Political Disunity?

Aug 28, 1997 Milton Friedman warns that a politically motivated effort to establish a common European currency will backfire.

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The Economic Consequences of Automation
Yu Haiyang/China News Service/VCG via Getty Images

The Economic Consequences of Automation

Robert Skidelsky urges policymakers not to ignore the short-run disruptions caused by technological innovation.

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The Return of Fiscal Policy
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The Return of Fiscal Policy

Jim O'Neill thinks slowing growth and the US-China trade war will force economic policymakers to face the obvious.

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Jerome Powell’s Dilemma
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Jerome Powell’s Dilemma

Carmen M. Reinhart & Vincent Reinhart

There is a reason that the US Federal Reserve chair often has a haunted look. Probably to his deep and never-to-be-expressed frustration, the Fed is setting monetary policy in a way that increases the likelihood that President Donald Trump will be reelected next year.

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Can Direct Democracy Defeat Populism?
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Can Direct Democracy Defeat Populism?

Jan-Werner Mueller thinks the conventional wisdom about the danger of referennda has it all wrong.

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Strengthening Land Rights Will Curb Migration
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Strengthening Land Rights Will Curb Migration

Chris Jochnick blames poor farmers' weak claims to their most productive asset for persistent poverty and growing food insecurity.

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Islands of Climate Ambition
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Islands of Climate Ambition

Andrew Holness & Frank Bainimarama urge developed countries to increase support for small island states struggling to adapt to global warming.

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Brexit House of Cards
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Brexit House of Cards

Mark Malloch-Brown

Following British Prime Minister Boris Johnson's suspension of Parliament, and an appeals court ruling declaring that act unlawful, the United Kingdom finds itself in a state of political frenzy. With rational decision-making having become all but impossible, any new political agreement that emerges is likely to be both temporary and deeply flawed.

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Could Ultra-Low Interest Rates Be Contractionary?
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Could Ultra-Low Interest Rates Be Contractionary?

Ernest Liu, et al.

Although low interest rates have traditionally been viewed as positive for economic growth because they encourage businesses to invest in enhancing productivity, this may not be the case. Instead, Ernest Liu, Amir Sufi, and Atif Mian contend, extremely low rates may lead to slower growth by increasing market concentration and thus weakening firms' incentive to boost productivity.

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