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Inside the profession, Samuelson was known for sparring with the equally famous (Nobelist, too) Milton Friedman. And, boy, did Government Supporting Samuelson disagree with Old Free Markets Friedman.
It’s not just agriculture; this “industrial policy” reality is a key element in U.S. business sectors like energy, defense, infrastructure, finance, banking and now, tech.
Alan Guebert discusses Paul Samuelson vs. Milton Friedman economics as it relates to U.S. agriculture.