Friedman

Milton Friedman is dead. He was a giant, who almost single-handedly undid Keynes's economic theories and ushered in the free-market laissez-faire capitalism modern conservatives love (though not necessarily those who are in charge of things just now, the "don't tax and spend like crazy" gang in Washington).

But his worldview was not all wine and roses, or beer and skittles, either.

He validated Maggie Thatcher's destruction of Britain. As Richard Parker points out, his "passionate calls for financial and securities market deregulation played no small role in ushering in the half-trillion dollar S&L fiasco of the 1980s and the deeply corrupt Wall Street stock market boom of the 1990s. His tax-reduction-at-all-costs policies helped lead to the nation's yawning budget deficits."

On the long list of things he abominated: rent controls; legal minimum wage rates; detailed regulation of industries such as banking or transportation; Social Security; licensing restrictions on any enterprise, occupation or profession; public housing programs; the military draft; publicly owned and operated toll roads.

So, yes. He was a giant. But his theories, put into practice, did more harm to more people than good.