Jennifer Burns

to relevancy in a different way than Friedman does because I think in some way she's tapped into a kind of more universal human longing for independence and autonomy and kind of self-creation and self-discovery.

Yeah, sure. And that's a great summary. You learn fast. So let me start with the economics and then I can kind of transition to how he used those economic ideas to become a real voice in the American conservative movement, in the American political realm. So I'll kind of highlight four ideas or contributions or episodes.

Yeah, sure. And that's a great summary. You learn fast. So let me start with the economics and then I can kind of transition to how he used those economic ideas to become a real voice in the American conservative movement, in the American political realm. So I'll kind of highlight four ideas or contributions or episodes.

Yeah, sure. And that's a great summary. You learn fast. So let me start with the economics and then I can kind of transition to how he used those economic ideas to become a real voice in the American conservative movement, in the American political realm. So I'll kind of highlight four ideas or contributions or episodes.

One was his work with Anna Schwartz in revising our understanding of the Great Depression. And that's tightly related to the second, which is the school of monetarism that he and Schwartz really become founders of. Then there is the prediction of stagflation and the explanation of that in the 1970s, which really is one of these sort of career-making predictions.

One was his work with Anna Schwartz in revising our understanding of the Great Depression. And that's tightly related to the second, which is the school of monetarism that he and Schwartz really become founders of. Then there is the prediction of stagflation and the explanation of that in the 1970s, which really is one of these sort of career-making predictions.

One was his work with Anna Schwartz in revising our understanding of the Great Depression. And that's tightly related to the second, which is the school of monetarism that he and Schwartz really become founders of. Then there is the prediction of stagflation and the explanation of that in the 1970s, which really is one of these sort of career-making predictions.

And then in terms of technical economics, he's known for the permanent income hypothesis, which he develops with a group of female collaborators that I can talk about. So those are kind of four technical pieces and being really brought together in what becomes the Chicago School of Economics. He's undoubtedly the head and the leader of the Chicago School of Economics.

And then in terms of technical economics, he's known for the permanent income hypothesis, which he develops with a group of female collaborators that I can talk about. So those are kind of four technical pieces and being really brought together in what becomes the Chicago School of Economics. He's undoubtedly the head and the leader of the Chicago School of Economics.

And then in terms of technical economics, he's known for the permanent income hypothesis, which he develops with a group of female collaborators that I can talk about. So those are kind of four technical pieces and being really brought together in what becomes the Chicago School of Economics. He's undoubtedly the head and the leader of the Chicago School of Economics.

There's an earlier generation that he learns from. There's his generation. There's also a Chicago School of Law and Economics that's really profoundly influential. And then there'll be kind of a third generation that he's somewhat distinct from, but that goes on to really shape economics. But let me go back to these kind of four pieces and let me start with Great Depression. So

There's an earlier generation that he learns from. There's his generation. There's also a Chicago School of Law and Economics that's really profoundly influential. And then there'll be kind of a third generation that he's somewhat distinct from, but that goes on to really shape economics. But let me go back to these kind of four pieces and let me start with Great Depression. So

There's an earlier generation that he learns from. There's his generation. There's also a Chicago School of Law and Economics that's really profoundly influential. And then there'll be kind of a third generation that he's somewhat distinct from, but that goes on to really shape economics. But let me go back to these kind of four pieces and let me start with Great Depression. So

Milton Friedman actually lives through the Great Depression. He's in college when it hits, and he is—so he's in college, it's 1928 to 1932, and he's aware of the Depression, and he's deciding, should I study mathematics or should I study economics? And he's had some good economics teachers, but it's really the context. It's looking around at the slow dissolving of economic prosperity.

Milton Friedman actually lives through the Great Depression. He's in college when it hits, and he is—so he's in college, it's 1928 to 1932, and he's aware of the Depression, and he's deciding, should I study mathematics or should I study economics? And he's had some good economics teachers, but it's really the context. It's looking around at the slow dissolving of economic prosperity.

Milton Friedman actually lives through the Great Depression. He's in college when it hits, and he is—so he's in college, it's 1928 to 1932, and he's aware of the Depression, and he's deciding, should I study mathematics or should I study economics? And he's had some good economics teachers, but it's really the context. It's looking around at the slow dissolving of economic prosperity.

So he decides to go to Chicago. He decides to study economics. And what's really interesting is that The Great Depression is so unexpected. It's unpredicted. It's unprecedented. And economists are really struggling to know how to respond to it. And so he's going to arrive at the University of Chicago when the field is struggling to know what to do.

So he decides to go to Chicago. He decides to study economics. And what's really interesting is that The Great Depression is so unexpected. It's unpredicted. It's unprecedented. And economists are really struggling to know how to respond to it. And so he's going to arrive at the University of Chicago when the field is struggling to know what to do.

So he decides to go to Chicago. He decides to study economics. And what's really interesting is that The Great Depression is so unexpected. It's unpredicted. It's unprecedented. And economists are really struggling to know how to respond to it. And so he's going to arrive at the University of Chicago when the field is struggling to know what to do.

So he's in this kind of really open space where the institutional economics of the 1920s has failed to predict, which was focused on business cycles. This is the irony. Their big thing was charting and understanding business cycles. And then we have the biggest business cycle of all time and they haven't seen it coming and they don't have a good explanation for it.