Capital' is not what capital is called, it is what its name is called.

Where is the pricing system that offers the consumer a fair choice between air to breathe and motor cars to drive about in?

There is an unearthly, mystical element in Friedman's thought. The mere existence of a stock of money somehow promotes expenditure. But insofar as he offers an intelligible theory, it is made up of elements borrowed from Keynes.

It is the rate of investment which governs the rate of saving, and not vice versa.

It is impossible to add the stock of money to the flow of saving.

At any moment there is certainly not balanced trade between the various areas of the habitable globe that happens to be under seperate national governments - there is an ever-changing pattern of deficits and surpluses.

The very nature of economics is rooted in nationalism. ... It [was] developed ... in the hope of throwing light upon questions of policy. But policy means nothing unless there is an authority to carry it out, and authorities are national.