Monday, August 11, 2025

6 results

Perhaps the most important sentence, now certainly the most urgent, in Milton Friedman's Money Mischief:

"There is strong evidence that a monetary crisis involving a substantial decline in the quantity of money is a necessary and sufficient condition for a major depression."

I googled it. Got 6 results -- and one of them was mine. There is very little interest in that particular sentence from Milton Friedman. 

(Item 9 in the Conclusion of Chapter 2. Page 48 in my paperback copy.)

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