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May 23, 2024 · Learn about the life and work of Milton Friedman, a U.S. economist and Nobel laureate who advocated free-market capitalism and monetarism in the 20th century. Explore his influential theories on consumption, inflation, and stabilization policy that challenged Keynesian economics.
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Jun 16, 2022 · Milton Friedman was an American economist and Nobel Laureate. Regarded as the founder of monetarism, his work and theories influenced economic policies in the United States and abroad.
Milton Friedman (/ ˈ f r iː d m ən / ⓘ; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.
May 29, 2024 · Milton Friedman was an American economist and educator, one of the leading proponents of monetarism in the second half of the 20th century. He was awarded the Nobel Prize for Economics in 1976. Learn more about Friedman, including his contributions to economic theory, in this article.
In Capitalism and Freedom, Friedman wrote arguably the most important economics book of the 1960s, making a case for relatively free markets to a general audience. He argued for, among other things, a volunteer army, freely floating exchange rates, abolition of licensing of doctors, a negative income tax, and education vouchers.
Nov 16, 2006 · Friedman promoted the theory that changes in the money supply affect real economic activity in the short run and the price level in the long run, a theory he stated in his Study in the Quantity of Money (1956).
Monetarism is an economic theory that focuses on the macroeconomic effects of the supply of money and central banking. Formulated by Milton Friedman, it argues that excessive expansion of the money supply is inherently inflationary, and that monetary authorities should focus solely on maintaining price stability .
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