When I once called myself a "Sunday painter” dabbling in stochastic finance, that was not meant to belittle finance theory as a branch of serious economic theory. Such a peculiar view was expressed again and again by the late Milton Friedman, a dizzy view that I still find incomprehensible.
Paul SamuelsonRelated topics
branch dabbling dizzy find incomprehensible late mean once sunday view Milton FriedmanRelated quotes
A hot topic of late, expressed most notably in Bernie Siegel's best-selling books, has emphasized the role of positive attitude in combating such serious diseases as cancer. From the depths of my skeptical and rationalist soul, I ask the Lord to protect me from California touchie-feeliedom.
Stephen Jay Gould
Thanks to the work of John Maynard Keynes and of Milton Friedman, we now have a better understanding of how governments can (at least in principle) reduce the severity of major economic downturns. Keynesian economics taught us that government spending can raise GDP and reduce unemployment.
Martin Feldstein