The Bank [of Canada] gave it a college try, it really did. It just doesn't work that way.
About this quote
- What does it mean?
- Friedman comments on the Bank of Canada's failed attempt to control economic outcomes.
- In plain terms
- The Bank of Canada tried to control the economy but failed.
- What can you take from it?
- Central banks cannot fully control economic forces.
Where it applies
Putting it to work
Questions to consider
- Can central banks control the economy?
- What are the limits of policy?
Another view
It lacks detail on what specific policy failed.
More from Milton Friedman
Everybody loves to argue with Milton, particularly when he isn't there.
Permalink to quote #55 I don't give a good goddamn what Milton Friedman says. He's not running for re-election!
Permalink to quote #57 There's no such thing as a free lunch.
Permalink to quote #54
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