Economic Quote by John Kenneth Galbraith
“Milton Friedman’s misfortune is that his economic policies have been tried.”
About This Quote
Source Speech: Public Lecture, 1970
The quote suggests that Friedman’s policies have been widely implemented, implying practical testing of his ideas.
In simple terms: Friedman's ideas have been tried in real life.
Key Takeaway
Observe outcomes of economic theories.
Themes
economics
policy
history
Mood
critical
reflective
Type
analytical
historical
When to use this quote
- government budgeting
- central banking
- economic reforms
Key Concepts
market liberalization
monetary theory
public policy
Questions to Reflect On
- What lessons arise from these implementations?
- How do outcomes differ across countries?
A Different Perspective
Implementation does not guarantee success; context matters.
![“Just between you and me, shouldn’t the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]?... I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that... I’ve always…” quote by Lawrence Summers](https://sms4smile.com/quotes/img-quotes/ac4/lawrence-summers-16940_air_just-between-you-and-me-shouldn-t-the-wo_4703.jpg)
