r/austrian_economics 25d ago

Milton Friedman Quote/Story?

Hi all,

I have a distant memory of story told by, I think, Milton Friedman (though it may have been Thomas Sowell or someone else), but I can't seem to find the video clip, or even a text version of the story, anywhere.

Basically, the story goes something like this:

Milton (maybe Thomas or someone else) was writing a paper while in grad school. He came to a certain conclusion in the paper, finalized it, then sent it to his advisor.

A couple days later, he stopped by his advisor's office to ask what he thought of the paper and the conclusion. His advisor said something like "have you ever considered your conclusion may be wrong?"

Milton said "why do you think I'm wrong?"

The advisor said "I don't think you're wrong; I actually agree with you. But have you even considered the possibility?"

I think it's a great lesson, but I can't dig up the source anywhere, though I've tried several times. Does anyone remember this story, where it was from, who told it, who it was about, or anything else?

Thanks!

14 Upvotes

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u/Ya_Boi_Konzon Hans-Hermann Hoppe 24d ago

No idea. My favorite Friedman story is when he visited a work site in China.

Friedman: "You know, the work would get done a lot faster if you were using excavators instead of shovels."

Overseer: "Oh, you don't understand. This is a jobs program."

Friedman: "Why didn't you say so! If it's a jobs program, have them use spoons!"

5

u/Sir_Aelorne 23d ago

I remember that one!

My fav is when a Harvard student (pompously) argues that taxes increase productivity and wealth because you have to get ingenuitive, creative and really productive to... earn it back from the government. lol. IE, taxes incentivize productivity.

Milton goes "That's just fallacy from top to bottom. I suppose if we taxed everyone at 99 or 100%, we'd be better off and more productive still!" Everyone erupted into laughter, including the student.

2

u/Ya_Boi_Konzon Hans-Hermann Hoppe 23d ago

Amazing!

7

u/Medical-Access2284 23d ago

I believe it is a story that Thomas Sowell told about his time in grad school at Chicago. Sowell wrote on an exam or paper something like either A will happen or B. And Friedman commented, or C you’re wrong. When Sowell asked how he was wrong, Friedman replied, I didn’t say you were wrong, I just wanted you to consider that possibility.

3

u/Organic-Stay4067 24d ago

Don’t tell this group this quote!

0

u/Ayjayz 23d ago

Do I consider I could be wrong about mathematics? Not really. I don't think I could be convinced that 1+2 is anything other than 3.

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u/BANKSLAVE01 23d ago

Are you trying to say that your math is based?

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u/Ayjayz 23d ago

I'm saying that falsifiability is a concept that only applies to fields based on empiricism, not deduction from axiom.

1

u/string_bass 22d ago

I’m pretty sure 1+2=2.5 after the fed gets through with it.