Friedman depicted Chicago's 'counter-revolution in monetary theory' – which displaced Keynesian attempts to foster economic stability through taxation and public spending – as 'a scientific development that has little ideological or political content'. In his 1976 Nobel Prize lecture, he struck a technocratic tone, arguing that the 'socially destructive inflation' and 'suppression of human freedom' afflicting many countries were not results of 'evil men', nor of 'differences of values among citizens', but of erroneous judgments about the consequences of government actions.

Jessica Whyte, The Morals of the Market, loc. 336