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Features Australia

Out of step with the times

Malcolm Fraser was the last of the Keynesian Liberals - and the only one to lose an election on economic management

28 March 2015

9:00 AM

28 March 2015

9:00 AM

Malcolm Fraser had little time for Milton Friedman. When the Nobel Prize winning economist visited Australia in April 1981, the businessmen who paid for his trip hoped his macroeconomic wisdom would rub off on the Liberal prime minister.

It didn’t. Friedman later recalled in his memoir that ‘the discussion with Mr Fraser was not among the most friendly discussions we ever engaged in.’

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