Friedman on economics chairs

Funny comment in a 1990 letter penned by Milton Friedman, quoted in Blundell (2007), p. 47:

I have personally been impressed by the extent to which the growing acceptability of free private-market ideas has produced a lowering of the average intellectual quality of those who espouse those ideas. This is inevitable, but I believe it has been fostered by… the creation of free-enterprise chairs of economics. I believe that they are counterproductive.

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