Welcome to Cato Daily Podcast. I'm your host Anastasia Glova.

It's a slow week in Washington as everyone celebrates the holidays and rings in the new year,

but for those of you listening this week, I'm featuring the best of Cato Daily Podcast. Each day until the new year

tune in for one of Cato's finest previously aired podcast commentaries.

Milton Friedman, recipient of the 1976 Nobel Prize for Economic Science, passed away on November

16, 2006 at the age of 94.

Friedman's ideas on economic freedom revolutionized establishment economic thinking across the globe.

He was a great leader of the cause of liberty and is remembered by his close personal and professional

friend, Cato's President Ed Crane, in today's podcast.

Why don't you begin by telling me about your first collaboration with Milton?

Well, I've known Milton for close to 35 years.

He's always been a dear friend friend he's always been active in the

libertarian movement which I've been active in and today is a very very sad day

because we learned that we lost him last night. I knew he was in trouble.

He'd been in the hospital for four days with pneumonia

and when you're 94 years old, that's not a good thing.

So we're all very deeply saddened. It's interesting. I was thinking this

morning when I came to work I need to email Milton to get him to watch our video

streaming of our annual monetary conference which is taking place as we're speaking

here.

And I never did that, but of course Milton had passed away last night and also, ironically,

Anna Schwartz is one of the speakers here and I was able to tell her and she

...