How Liberals Opened the Door to Libertarian Economics
On September 13th, 1970, the New York Times Magazine published an essay by Milton Friedman entitled “The Social Responsibility of Business Is to Increase Its Profits,” which turned out to be one of the most influential economic arguments of the century.
To mark its 50th anniversary, DealBook and the Times Magazine assembled experts including chief executives, Nobel Laureate economists and top think-tank leaders to debate and dissect the legacy of Friedman’s ideas. Here, Kurt Andersen considers how a wonkish 3,000-word essay on economics altered a country’s course — and its character.
Until the 1960s, when Milton Friedman was in his 50s, pretty much the only people who’d heard of him were other economists and a few of his fellow right-wingers. As a …continued .
[Source: New York Times]