• Benjamin Friedman


Is our Economy's Financial Sector Worth What it Costs Us? Benjamin Friedman, November 11, 2011, Opinion. “In 1867, when the American economy was still largely agricultural, Horace Greeley, the editor of the New York Tribune, threw out the following challenge in a lecture that he gave in lower Manhattan: “There are 500,000 farmers, probably, in the State of New York to-day, who, if you were to ask each of them how much per bushel his corn had cost him to grow for the last twenty years, I doubt if fifty of the 500,000 could tell you. And this is but one instance out of ten thousand. Now, every grower of agricultural products…” Link