An anecdote on India’s socialist government’s economic planning

Just came across a small anecdote on two past American economists. It is especially amusing if you are familiar with these personalities. Milton Friedman, a libertarian economist with strong beliefs in market economy was advising the then Indian socialist government on its famous five years economic planning.

John Kenneth Galbraith was a compatriot economist of Milton but with liberal and Keynesian views and was also the US ambassador to India. When Ken Galbraith learned of this news, he quipped that ‘asking about the economic planning to Milton Friedman is like asking the Catholic Pope about the birth control contraceptives’.

Now you know why India subsequently abandoned the birth control policies and experienced a great population boom!