Honoring Milton Friedman

Becker and Posner debate the possibility of a Milton Friedman Institute at the University of Chicago.  Apparently people are upset about bestowing this honor on someone they disagree with politically.
Part of Posner’s comment, on the effect of honoring Friedman now, when the wisdom of many free-market ideas is being questioned:
I don’t think anyone would quarrel [...]

The fallout

My professors are beginning to speculate about the effect of the Wall Street meltdown on the rest of the economics profession.  Econ professors (and grad students) are paid WAY more than their counterparts in other academic programs, because they have better outside options.  Make that: HAD better outside options.  If we go forward without those [...]