Nothing could be finer than to be in your economic equilibrium

At JSTOR ...

From a review of Milton Friedman's "A Program for Monetary Stability" by Lawrence Ritter, from 1960:

Friedman argues that the economy has been and is now inherently stable, and that it would automatically tend to maintain high employment with a stable price level if only it were not being almost continuously thrown off the track by erratic and unwise monetary policies.

If economic equilibrium is as ridiculous as it seems to me, and if Lawrence Ritter's summary is correct, then Milton Friedman's argument is embarrassingly stupid.

I have never seen an argument depend so completely on the fantasy called equilibrium.