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ority and form a government. The Likud looked vulnerable. Domestic concerns, alone, were eroding its support. Under Begin’s turbo-charged version of Milton Freedman economics, an economic boom had given way to runaway inflation and a stock market crash. Lebanon, however, was the main issue, and it remained a runn
rom respiratory and cardiac failure. The physical damage, however, was far greater than I’d anticipated. Buildings were destroyed. Cars were crushed. Glass and debris flew everywhere. In financial terms, the cost ran to hundreds of millions of dollars. The true impact was greater: on families who saw the
jority and form a government. The Likud looked vulnerable. Domestic concerns, alone, were eroding its support. Under Begin's turbo-charged version of Milton Freedman economics, an economic boom had given way to runaway inflation and a stock market crash. Lebanon, however, was the main issue, and it remained a runn
rom respiratory and cardiac failure. The physical damage, however, was far greater than I'd anticipated. Buildings were destroyed. Cars were crushed. Glass and debris flew everywhere. In financial terms, the cost ran to hundreds of millions of dollars. The true impact was greater: on families who saw the
a window. To lighten the mood, | said something about the Red Sox. He said “Getty, I getta papers on banka reform every week. Yours isa the best.” Milton Friedman, another nobelist, had a different take. We had given talks ata Cato Foundation symposium in San Francisco. He hated my idea. No great surprise. He h
ch do nothing but accept deposits and make loans, not the still more dangerous commercial/investment hybrids which rose and fell after repeal of the Glass-Steagle Act. The danger is leverage. Depositors must be attracted at some cost, say checking services. Borrowers must be attracted at a rate coverin
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