Читать книгу Milton Friedman - Eamonn Butler - Страница 22

Friedman’s quick mind and economic expertise also put him in demand with politicians. In 1964 he became chief economic advisor to the US presidential candidate Barry Goldwater – though he did not share in any campaigning. Goldwater’s crushing defeat at the hands of his opponent Lyndon Johnson – who branded Goldwater as a bellicose extremist – did nothing to make Friedman’s ideas any more popular.

In the early 1970s, President Richard Nixon invited Friedman to be one of his economic advisors. Following Friedman’s guidance, Nixon’s budget director (and fellow Chicago economist) George Schultz ended 25 years of fixed exchange rates and floated the US dollar. But Friedman openly disagreed with Nixon’s introduction of wage and price controls, which he argued would have no impact on the inflation of the time and would only harm the US economy.

Later, another President, Ronald Reagan, was much influenced by Friedman, had read his Capitalism and Freedom, would quote him, and accepted the folly of politicians trying to control markets. He consulted Friedman, who advised him to cut spending, taxes and regulation, and pay keen attention to the money supply.