Right here is audio, video and transcription. Right here is the outline of the episode:
Jennifer Burns is a professor of historical past at Stanford and works on the intersection of mental, political, and cultural historical past. She has written two biographies that Tyler extremely recommends: her 2009 e-book, GThe Oddities of the Market: Ayn Rand and the American Proper and his final, Milton Friedman: the final conservativee, gives a nuanced take a look at the influential economist and public mental.
Tyler and Jennifer start by discussing how her new portrait of Friedman led her to re-evaluate him, his lasting influence on statistics, his overly dogmatic nature, his transition from tutorial to mental public, the issue with Two fortunate folks, what Friedman’s courtship with Rose Friedman was like, how Milton’s household influenced him, why Friedman opposed Hayek’s courtesy appointment on the College of Chicago, Friedman’s attitudes towards friendship , his relationship with fiction and the humanities and the views of his mental heritage. Then they talk about Jennifer’s earlier work on Ayn Rand, together with whether or not Rand was screenwriter, which of her novels is the perfect, what to think about the intercourse scenes in Atlas shrugged his shoulders And The supply, how Rand and Mises acquired alongside, and why there are so few profitable businesswomen depicted in American fiction. In addition they look at why fiction appears a lot extra essential to the American left than the fitting, what’s resulting in the decline of the American conservative mental situation, what it’ll do subsequent, and rather more.
Right here is an excerpt:
COWEN: What’s the way forward for Milton Friedman, say, 30 or 40 years from now? The place will the popularity be? The College of Chicago is not Friedmanite, is it? We all know that. There are fewer outposts of Friedmanite thought than earlier than. Will or not it’s underestimated or reinvented not directly or what?
BURNS: Let me look into my crystal ball. I do not suppose the title will disappear. I feel there are nonetheless names that individuals learn. Individuals nonetheless learn Keynes, Mill and different figures like that to see what they had been saying of their period that was so influential. I feel Friedman acquired himself in a little bit of a tizzy. I’m doing work to hint his affect.
In economics, nobody will say, “Oh, I am a Friedmanian,” or fewer persons are, however that is somebody whose main work was carried out half a century or extra in the past, so I do not do not suppose that is stunning. It will be stunning if the economic system stalled, as Friedman continues to set the tone. After we take into consideration how we worth the trendy Federal Reserve, certain, issues have occurred on this planet, however Friedman’s concepts have carried out lots to form that understanding.
It’s all the time on the minds of coverage makers. It’s all the time on the minds of these answerable for financial coverage, even when they don’t observe it absolutely. I feel we at the moment are in the course of a terrific reckoning. You noticed the entire debate on M2 and the pandemic and financial spending. I do not know the place this may all calm down. It is a extra sophisticated world than the one Friedman studied. I are likely to suppose that he’s a vital thinker, that the premise of what he talked about will definitely be recognized in 50 years.
COWEN: Did Milton Friedman have buddies?
Extremely really helpful, and Jennifer’s new e-book Milton Friedman: the final conservative is certainly one of my favourite books of the 12 months. This may probably be the definitive biography of Friedman.