Economist Milton Friedman was credited with the fool in the shower analogy, which compares policymakers to a

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Economist Milton Friedman was credited with the “fool in the shower” analogy, which compares policymakers to a fool in the shower, who, thinking that the water is too cold, might turn up the hot water very fast, thus scalding himself. What was Friedman trying to suggest about economic policymaking?
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Macroeconomics

ISBN: 9780132109994

1st Edition

Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty

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