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During the housing price bubble 2001-2007, the economics profession on the whole, lead by University of Chicago economists (which is where Friedman taught) told
by woodandsteel 6y ago
During the housing price bubble 2001-2007, the economics profession on the whole, lead by University of Chicago economists (which is where Friedman taught) told us everything was fine, due to efficient market theory.
- me_me_me 6y agoPeople in the future will be asking themselves, how the whole 'school of Chicago economics' wasn't tried for crimes against humanity. And I am not only talking for spreading this silly not notions of invisible hand adjusting markets and utopia will arrive. Those people destroyed south American countries in their little free market playgrounds. And all they 'learnt' was that those models failed because the markets were not free enough.