George Will celebrates the insightful Milton Friedman

I want to thank all of the people in this room for making Cato and its work possible. I also want to thank a few million more people who, in recent weeks, have toiled to demonstrate in a timely manner why Cato is necessary. I refer, of course, to the people of Greece.

Milton Friedman, whose name we honor tonight, was honored often for his recondite and subtle scholarship. But it was complemented by a sturdy common sense much in fashion nowhere now. About 40 years ago he found himself in an Asian country where the government was extremely eager to show off a public works project of which it was inordinately and excessively fond. It was digging a canal. They took Milton out to see this, and he was astonished because there were hordes of workers but no heavy equipment. He remarked on this to his government guide, who replied, "You don't understand, Mr. Friedman. This is a jobs program. That's why we only have men with shovels." To which Friedman said, "Well, if it's a jobs program, why don't they have spoons instead of shovels?"