Wednesday, December 09, 2009

Milton Friedman and Two Big Government Schmucks

Watch this reasonably interesting Charlie Rose segment from 1999 where Milton Friedman discusses the domestic and global economy followed by two big government schmucks, Laura Tyson and Paul Romer, spilling endless drivel while basking in the glow of their “new economy”… of course this segment was from June of 1999 roughly 8 months before it all fell apart with the “tech wreck”.

Romer actually believed that our government created computer science… not just the technology involved in the early internet… the whole entire academic discipline… supposedly… to him… created as a result of a simple government program.

Although both numskulls thought the government at that time was actually “managing the business cycle better”, Tyson admits that animal spirits could still pose a danger.