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chatharsis. If ever there was a time for companies to come clean, it’s now. Over the years, the quality of
financial reporting has varied widely. Some companies did the bare minimum to meet accounting standards. Others
were more cautious. To get beyond the current stock market malaise, companies need to flush out the excesses
so investors can regain their confidence in our financial system. It’s better to take a hit now than risk
dragging this out over the next few years.
2.Happy birthday, Milton Friedman
Milton Friedman’s professional career has been marked by controversy over his many policy proposals. Yet as he
approaches his 90th birthday, Friedman is increasingly recognized as the most influential economist in a 20th
century that witnessed towering contributions from John Maynard Keynes, Paul A. Samuelson, and others.
Friedman is best known for "monetarism", a view that stability in the growth of the money supply is crucial
to controlling inflation and recessions. Although the relation between the money supply and the economy has
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