In light of Jim Henderson's mention of Friedman's statement that "We
are all Keynesians now," let me share the following with you.
I was attending the small Claremont-Bologna monetary conference about
a decade ago, and the participants included Friedman, Modigliani,
Tobin, and Samuelson. I was sitting in a shuttle van that would take
us to dinner, talking with Milton and Rose Friedman. Modigliani
approached the van, saw Friedman, shook his hand vigorously, and
exclaimed, "Milton, I'm a monetarist now!"
Steven Medema