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- Milton_Friedman abstract "Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist 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. With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward. Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, and Robert Lucas, Jr..Friedman's challenges to what he later called \"naive Keynesian\" theory began with his 1950s reinterpretation of the consumption function. In the 1960s, he became the main advocate opposing Keynesian government policies, and described his approach (along with mainstream economics) as using \"Keynesian language and apparatus\" yet rejecting its \"initial\" conclusions. He theorized that there existed a \"natural\" rate of unemployment, and argued that employment above this rate would cause inflation to accelerate. He argued that the Phillips curve was, in the long run, vertical at the \"natural rate\" and predicted what would come to be known as stagflation. Friedman promoted an alternative macroeconomic viewpoint known as \"monetarism\", and argued that a steady, small expansion of the money supply was the preferred policy. His ideas concerning monetary policy, taxation, privatization and deregulation influenced government policies, especially during the 1980s. His monetary theory influenced the Federal Reserve's response to the global financial crisis of 2007–08.Friedman was an advisor to Republican U.S. President Ronald Reagan and Conservative British Prime Minister Margaret Thatcher. His political philosophy extolled the virtues of a free market economic system with minimal intervention. He once stated that his role in eliminating U.S. conscription was his proudest accomplishment. In his 1962 book Capitalism and Freedom, Friedman advocated policies such as a volunteer military, freely floating exchange rates, abolition of medical licenses, a negative income tax, and school vouchers. His support for school choice led him to found the Friedman Foundation for Educational Choice.Milton Friedman's works include many monographs, books, scholarly articles, papers, magazine columns, television programs, and lectures, and cover a broad range of economic topics and public policy issues. His books and essays have had an international influence, including in former communist states. A survey of economists ranked Friedman as the second most popular economist of the twentieth century after John Maynard Keynes, and The Economist described him as \"the most influential economist of the second half of the 20th century ... possibly of all of it.\"".
- Milton_Friedman almaMater Rutgers_University.
- Milton_Friedman award John_Bates_Clark_Medal.
- Milton_Friedman award National_Medal_of_Science.
- Milton_Friedman birthDate "1912-07-31".
- Milton_Friedman birthPlace Brooklyn.
- Milton_Friedman birthPlace New_York.
- Milton_Friedman birthPlace United_States.
- Milton_Friedman deathDate "2006-11-16".
- Milton_Friedman deathPlace California.
- Milton_Friedman deathPlace San_Francisco.
- Milton_Friedman deathPlace United_States.
- Milton_Friedman depictionDescription "Friedman in 2004".
- Milton_Friedman influenced Alan_Greenspan.
- Milton_Friedman influenced Anna_Schwartz.
- Milton_Friedman influenced Augusto_Pinochet.
- Milton_Friedman influenced Ben_Bernanke.
- Milton_Friedman influenced Cato_Institute.
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- Milton_Friedman influenced David_D._Friedman.
- Milton_Friedman influenced Fraser_Institute.
- Milton_Friedman influenced Gary_Becker.
- Milton_Friedman influenced Harry_Markowitz.
- Milton_Friedman influenced Herbert_Stein.
- Milton_Friedman influenced Hernando_de_Soto_Polar.
- Milton_Friedman influenced J._Bradford_DeLong.
- Milton_Friedman influenced Margaret_Thatcher.
- Milton_Friedman influenced Mart_Laar.
- Milton_Friedman influenced Phillip_D._Cagan.
- Milton_Friedman influenced Rand_Paul.
- Milton_Friedman influenced Ron_Paul.
- Milton_Friedman influenced Ronald_Reagan.
- Milton_Friedman influenced Scott_Sumner.
- Milton_Friedman influenced Ted_Cruz.
- Milton_Friedman influenced Thomas_Sowell.
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- Milton_Friedman influencedBy Adam_Smith.
- Milton_Friedman influencedBy Arthur_F._Burns.
- Milton_Friedman influencedBy Frank_Knight.
- Milton_Friedman influencedBy Friedrich_Hayek.
- Milton_Friedman influencedBy George_Stigler.
- Milton_Friedman influencedBy Harold_Hotelling.
- Milton_Friedman influencedBy Henry_Calvert_Simons.
- Milton_Friedman influencedBy Henry_George.
- Milton_Friedman influencedBy Henry_Schultz.
- Milton_Friedman influencedBy Homer_Jones_(economist).
- Milton_Friedman influencedBy Irving_Fisher.
- Milton_Friedman influencedBy Jacob_Viner.
- Milton_Friedman influencedBy John_Stuart_Mill.
- Milton_Friedman influencedBy Simon_Kuznets.
- Milton_Friedman influencedBy Thomas_Paine.
- Milton_Friedman institution Columbia_University.
- Milton_Friedman institution Hoover_Institution.
- Milton_Friedman institution University_of_Cambridge.
- Milton_Friedman institution University_of_Chicago.
- Milton_Friedman thumbnail Portrait_of_Milton_Friedman.jpg?width=300.
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