Nobel laureate Milton Friedman's main message for central banks was to maintain a monetary rule that kept the growth of the money supply constant, and would certainly not favor the Federal Reserve's current inflationary plan.

Both major political parties are now more interested in pointing fingers than refining their own beliefs, but at some point, a party will recognize the necessary, limited number of functions for government that are a prerequisite for a society within which free citizens can generate happiness and prosperity.

There is little evidence that deregulation or banks' compensation practices caused the financial crisis.

At this AEI book forum, Jeffrey Friedman will present his book’s arguments, followed by comments from AEI’s Peter Wallison and Alex Pollock and a general discussion.

It seems that euro membership deprived Spain of an independent monetary policy that might have been used to deflate the Spanish housing market bubble before it became unmanageable.

The latest evidence from the economics literature shows that steep economic drops might actually portend good news ahead.

Be wary when media, university, and corporate elites warn that we must change our ways or face disaster fifty years hence.

At the time of the euro's launch in 1999, Milton Friedman famously observed that the euro would not survive the first major European economic recession. In the end, Friedman will prove to have been right.