ABSTRACT
This chapter is in two parts. In Sections 1–5 we review the case made for simple rules. The approach is historical in the sense that we focus on the evolution of the case for rules (against discretion) made in the postwar years. Easily the most important person in this debate is Milton Friedman, so it is only appropriate to centre the discussion around some of his ideas. In describing the evolution of the debate we shall draw on some work developed in previous chapters.
