Websites : Becker Friedman Institute, Hoover Institution, Nobel Prize
American economist and educator, one of the leading proponents of monetarism in the second half of the 20th century. Milton Friedman was awarded the Nobel Prize for Economics in 1976. He was Paul Snowden Russell Distinguished Service Professor Emeritus of Economics at the University of Chicago; Senior Research Fellow, Hoover Institution, Stanford University, California.
Milton Friedman was coauthor of Income from Independent Professional Practice (1945); author of A Theory of the Consumption Function (1957); Capitalism and Freedom (1968) and others.
photograph: Chuck Nacke/Alamy
How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is...
"The major social problems of the United States—deteriorating education, lawlessness and crime, homelessness, the collapse of family values, the crisis in medical care—have been produced by well-intended actions of government. That is easy to document. The difficult task is understanding why government is the problem. The power of special interests arising from the concentrated benefits of most government actions and their dispersed costs is only part of the answer. A more fundamental part is...
Writing in the June 1965 issue of theEconomic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: "The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement--monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small . . . monumental, above all, in the theoretical and statistical...
