Jennifer Burns

We have not abandoned discretion, but rules are used as a heuristic or a check, and those come out of Friedman's thinking. And so it's something, it's really profound, and it was always counterposed to discretion, which Friedman worried would be subject to capture or political corruption if you had discretion in policymaking or if you had discretion in these very big areas.

We have not abandoned discretion, but rules are used as a heuristic or a check, and those come out of Friedman's thinking. And so it's something, it's really profound, and it was always counterposed to discretion, which Friedman worried would be subject to capture or political corruption if you had discretion in policymaking or if you had discretion in these very big areas.

We have not abandoned discretion, but rules are used as a heuristic or a check, and those come out of Friedman's thinking. And so it's something, it's really profound, and it was always counterposed to discretion, which Friedman worried would be subject to capture or political corruption if you had discretion in policymaking or if you had discretion in these very big areas.

then people would stop competing against each other in a market and they would turn their attention to getting control of the rules or the rule makers.

then people would stop competing against each other in a market and they would turn their attention to getting control of the rules or the rule makers.

then people would stop competing against each other in a market and they would turn their attention to getting control of the rules or the rule makers.

Yes, exactly.

Yes, exactly.

Yes, exactly.

Yeah. And that was, again, to go back to the idea of separating new liberalism or neoliberalism from classical liberalism was more of a focus on what are the rules that are needed? What is the competitive order that we want to set out? How do we design in social safeguards? How do we think about it? And so that shift...

Yeah. And that was, again, to go back to the idea of separating new liberalism or neoliberalism from classical liberalism was more of a focus on what are the rules that are needed? What is the competitive order that we want to set out? How do we design in social safeguards? How do we think about it? And so that shift...

Yeah. And that was, again, to go back to the idea of separating new liberalism or neoliberalism from classical liberalism was more of a focus on what are the rules that are needed? What is the competitive order that we want to set out? How do we design in social safeguards? How do we think about it? And so that shift...

towards monetary policy and focusing on stable monetary growth, that becomes really important in the post-70s era as one of the basic rules of how capitalist economies should function. And it becomes really important because they see the example of, say, countries, most notably in Latin America, where monetary rules weren't followed and different governments were

towards monetary policy and focusing on stable monetary growth, that becomes really important in the post-70s era as one of the basic rules of how capitalist economies should function. And it becomes really important because they see the example of, say, countries, most notably in Latin America, where monetary rules weren't followed and different governments were

towards monetary policy and focusing on stable monetary growth, that becomes really important in the post-70s era as one of the basic rules of how capitalist economies should function. And it becomes really important because they see the example of, say, countries, most notably in Latin America, where monetary rules weren't followed and different governments were

played politics with their currencies. And that created just huge upheaval and huge social loss, economic loss, just economic disaster.

played politics with their currencies. And that created just huge upheaval and huge social loss, economic loss, just economic disaster.

played politics with their currencies. And that created just huge upheaval and huge social loss, economic loss, just economic disaster.

I definitely believe in win-win, but with a big asterisk. Like you can have win-win, but it can feel like win-lose, which is it's not just are people getting more. It has a lot to do with do people feel they're getting more and do people feel they're getting what's fair and equal. So you could have a situation, you know, for instance, if you look at the history of the

I definitely believe in win-win, but with a big asterisk. Like you can have win-win, but it can feel like win-lose, which is it's not just are people getting more. It has a lot to do with do people feel they're getting more and do people feel they're getting what's fair and equal. So you could have a situation, you know, for instance, if you look at the history of the