Milton Freidman:Practical Realist or Foggy Dreamy Eyed Theorist

We will soon find out how well economist Milton Friedman's ideas work in the real world. It seems that Bernacke and Paulson are followers of Friedman's economic ideas. Theories that when tested so far in the real world which havent worked.
One of Friedman's conclusions is that the great depression was caused not by the stock market crash of 1929(the most commonly held belief)but the Fed's refusal to flood the system with credit and money after the crash,which caused the economy to lock up,according to Friedman. He believed that if the Fed had injected liquitiy into the system the depression would have been prevented. It seems like a logical idea but we don't know if doing that would have been throwing good money after bad.
After all the stock market crash was caused by people who had made a lot of bad business decesions and the depression removed a lot of those people out of those decesion making positions.
Some of Friedman's ideas where used by South American countries trying to build their economy. Many of those counties quickley abondoned Friendman's ideas as impractical. I guess we will soon find whether Friedman's ideas about the depression were valid or not.