Milton Friedman won the Nobel Prize for economics

[CTLawGuy]

http://en.wikipedia.org/wiki/Milton_Friedman

"Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician and public intellectual, and a recipient of the Nobel Memorial Prize in Economic Sciences. ..."

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So either Milton Friedman would have been right about everything about this economic situation, or people are going to have to come up with some other reason why Paul Krugman should be believed over everyone else.

[FreakinDJ]

1. Must have been an Abuse Child to come up with some of his stuff

Using Unemployment to control inflation

[Pale Blue Dot]

2. And George Bush was elected President.

Looks like we're going to have to base our opinions on facts and data rather than on who is proposing the plan.

[MannyGoldstein]

3. Because Krugman Has Been Mostly Right For More Than A Decade

He pretty much predicted this mess, as well as most of what else has happened over the past decade or more.

[terisan]

4. Milton Friedman wanted to abolish Federal Reserve Bank & Actively Opposed Draft. nt

[Lint Head]

5. There is no such thing as the Nobel Prize in Economics.

See this:
http://sci.tech-archive.net/pdf/Archive/sci.econ/2008-11/msg00026.pdf

:dem:

[ArchieStone1]

6. Yes, there is

http://nobelprize.org/nobel_prizes/economics/laureates/

[patriotvoice]

7. "Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel"

Not the "Nobel Prize in ___". The original argument is correct: there is no "Nobel Prize" for economics. But that argument is solely semantic: Alfred Nobel established only 5 categories. Riksbank came along and added to Nobel's vision with one in economics, but their addition cannot rightly be called a "Nobel Prize".

[jody]

9. Now you've done it, why not rouse other groups by questioning why "science" is attached to their

fields, e.g. political science, social science.

Science to many describes fields of study where things can be measured with ratio or interval scales.

Other fields depend heavily on non metric data that can at best be ranked or worse just classified.

I've read papers that use data not much different from going into a pasture, picking up an Angus cow patty and labeling it 1, a Brahma patty and labeling it 2, a Charolais labeled 3 and concluding the average cow patty is 2.

Most people would recognize that conclusion as BS but sometimes the same approach is used to cloak the process in statistical terms to mislead the unwary.

[QC]

8. George W. Bush graduated from Andover, Yale, and Harvard. n/t