VIDEO: Placing Milton Friedman’s Famous ‘Crisis’ Comment in Context

RALEIGH — One of the more well-known quotes attributed to famed economist Milton Friedman suggests that real public policy reform can take place only in the context of crisis. But that’s not what Friedman actually said or meant. Dr. Edward Lopez, professor of economics and BB&T distinguished professor of capitalism at Western Carolina University, placed Friedman’s comments in context during a Friedman Legacy of Freedom Lecture Friday for the John Locke Foundation and Friedman Foundation for Educational Choice.