Was Friedman right? The debate on American post-1980 reforms
Interesting debate in the US blogosphere on the pro-market reforms implemented in the US (and other countries including Britain & Ireland) since 1980. Paul Krugman defends the large rise in American living standards pre 1980 liberalisation and contrasts it with more moribund growth there after while Scott Summer highlights the reversal of the American economies (and that of other reformers) relative decline. Krugman – Read almost any conservative commentator on economic history, and you’ll find that the era of postwar …