The Bush administration has thrown in the towel on the long battle begun in the 1970s to minimize government oversight of the economy. In light of the credit crisis, it now wants to regulate Wall Street. Treasury Secretary Paulson has put to together broad set of reforms, not truly effectual, but a serious start.
This marks, at last, the end of the Age of Friedman. And not too soon.
There is a direct line from Milton Friedman's ascendancy in...
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