Friedman on Galbraith

Why is it that the economic mind behind the Prime Minister has few, if any, followers in the economics profession? Why is it that Galbraith's theories have become widely accepted when there is a total lack of support for them? Is Galbraith a scientist or a missionary ? Milton Friedman, Nobel Laureate in Economics 1976, addresses these and other questions about Galbraith as economist and prophet. Whatever the reader's view of Galbraith, this essay by Friedman is must reading.

It is said that Canada and other countries are on the same path as Britain - that we have caught the British disease. To some, the British disease is the logical ending to Galbraith's story. In the second essay in this book, Professor Friedman outlines a cure for the British disease and discusses, among other topics, the application of the cure in the case of Chile.

The book also contains questions that Professor Friedman provoked by his essays, together with his answers.