It was another economist who coined the phrase ‘In the long run we’re all dead’ but it’s Milton Friedman who can’t argue the toss with his old ideological foe anymore:
Nobel prize-winning US economist Milton Friedman has died at the age of 94.
Mr Friedman, who coined the phrase “there’s no such thing as a free lunch”, was awarded the Nobel Prize for economics in 1976.
Known as the high priest of monetarism, his ideas gained popularity in the 1980s when they influenced the policies of Margaret Thatcher and Ronald Reagan.
