Paul Samuelson on Milton Friedman

“It’s that the profession has gone very much to the right ideologically. And guess who was the most important person responsible for that … it was Milton Friedman, not Friedrich Hayek.”

“Today we see how utterly mistaken was the Milton Friedman notion that a market system can regulate itself... Everyone understands now, on the contrary, that there can be no solution without government. The Keynesian idea is once again accepted that fiscal policy and deficit spending has a major role to play in guiding a market economy. I wish Friedman were still alive so he could witness how his extremism led to the defeat of his own ideas.”