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In one celebrated case, Milton Friedman called a special meeting at the University of Chicago, where he taught, to prove that the [[Coase theorem]] was false. But within two hours of discussion, Friedman had the intellectual courage and objectivity to reverse himself and admit that he was wrong and Ronald Coase was right. Many lesser intellectuals can spend their entire lives refusing to admit that they were wrong about something.

In one celebrated case, Milton Friedman called a special meeting at the University of Chicago, where he taught, to prove that the [[Coase theorem]] was false. But within two hours of discussion, Friedman had the intellectual courage and objectivity to reverse himself and admit that he was wrong and Ronald Coase was right. Many lesser intellectuals can spend their entire lives refusing to admit that they were wrong about something.

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[[Image:Monetary-history.jpg|Thumb]]

==Quotes==

==Quotes==