Likewise, a century later, in “It’s a Wonderful Life,” the banker Mr. Potter is the evil, unredeemable, un-American villain. Before long, a big Hollywood movie’s most memorable scene was a kind of dramatization of the Friedman doctrine, Libertarian Economics for Dummies. That same year, two members of the University of Rochester business-school faculty published a 55-page paper conceived as an operational elaboration of the Friedman doctrine. with employees” and “the attractiveness of the secretarial staff.” It is one of the most-cited economics papers ever. U.S. executive pay, meanwhile, shifted from consisting mainly of salary and bonus to mainly stock and stock options.

Source: New York Times September 11, 2020 18:33 UTC