When I think of Jimmy Carter’s energy policy, Arthur Scargill at the head of the British mineworkers’ union, and Mao’s Cultural Revolution, I have a hard time disagreeing with Friedman about the world in the mid-1970’s. But there I would draw the line: while movement in Friedman’s direction was by and large positive over the past generation, the gains to be had from further movement in that direction are far less certain.