Milton Friedman was a greedy lunatic who spoke exclusively for the most wealthy people on earth during his era. His policies have been thoroughly tried and tested, they have been the primary economic policy in America for about 50 years now. They have failed catastrophically. Or if we are being honest, they are functioning exactly as he intended, for the benefit of the few people they were created to benefit. They're why we're in this mess in the first place. Deregulation, privatization, union busting, abolition of workers rights and protections, dismantling of environmental protections, opposing antitrust laws, staunch opposition to any sort of social safety net (social security, medicare etc), tax cuts for the rich and tax hikes for the poor etc etc. He was the person who put all of these ideas into an economic manifesto that was intended to be sold to the general population. They were, are and always will be fucking stupid. There are only two kinds of people who consider them to be good. Brainless morons, and the ultra wealthy endlessly greedy few for whom his policies were created to benefit. Every single implementation of his policies have led inevitably to financial collapse.
The policies of John Maynard Keynes were what functioned as the foundation for most first world economies during the mid 1930s up to the 1970s (and outside of the US, most other first world countries still attempt to operate with at least some of his policies, and they remain popular when functioning properly). He realized that markets were innately unstable and corrupt when left unchecked. He advocated healthy regulation, and these regulations were what allowed the US to return to a more stable economic state following the Depression and World War II (along with a growing number of public programs to allow the lower classes a leg up). Until the greed at the very top of these markets took control of the government and began to rapidly dismantle these policies starting in the 70s and 80s. Both parties share the blame in this mess, the GOP however are worse by a country mile.
The inflation we're seeing right now has nothing whatsoever to do with government intervention. It is in fact the lack of government intervention that has caused it. There no longer exist any reasonable market regulations to prevent corporations from endlessly raising prices.
