Business: The Intellectual Provocateur

REACTION to his ideas, says Milton Friedman, follows "a certain scenario." Act I: "The views of crackpots like myself are avoided." Act II: "The defenders of the orthodox faith become uncomfortable because the ideas seem to have an element of truth." Act III: "People say, 'We all know that this is an impractical and theoretically extreme view—but of course we have to look at more moderate ways to move in this direction.' " Act IV: Opponents "convert my ideas into untenable caricatures so that they can move...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!