Commentary (The Times)

Monetary policy: "Free market" (Hayek letter defending Friedman)

Document type: Press
Source: The Times , 18 Mar 1980, p18
Editorial comments:
Importance ranking: Minor
Word count: 76
Themes: Conservatism, Monetary policy

Free market

From Professor F. A. Hayek

Sir, Sir Eric Roll makes fun of Milton Friedman (March 6) for having said that "the whole of Western civilization rests on the free market". Surely, if Professor Friedman had explicitly said what he clearly meant, namely that the whole of Western civilization rests on as much free market as government allowed, he would have been perfectly right.

Yours faithfully.
Urachstrasse 27, D-7800 Freiburg. March 7.