Milton Friedman Repudiates the Federal Reserve…

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…but not central banking (i.e., government controlling the money supply).

In response to my previous post about Milton Friedman never repudiating the Federal Reserve, LRC reader Michael Thierauf sent me this interview of Milton Friedman from 1994 in which he states that he has long been in favor of abolishing it—but not (it seems to me) because he believes in a 100% free market in banking, but because the Federal Reserve hasn’t been successful.

UPDATE: Sam Grove sent this article by Austrian economist Richard Ebeling deconstructing Friedman’s views on monetary systems.

8:24 pm on April 25, 2012