who was Milton Friedman?

Answer 1

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who made major contributions to the fields of macroeconomics, microeconomics, economic history and statistics while advocating laissez-faire capitalism. In Capitalism and Freedom (1962) he advocated minimizing the role of government in a free market in order to create political and social freedom. In 1976, he won the Nobel Prize for Economics for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy.[1] His television series Free to Choose aired on PBS in early 1980. It became a book, co-authored with his wife, Rose Friedman. The book was widely read, as were his columns for Newsweek magazine. In statistics, he devised the Friedman test. His political philosophy stressing the advantages of the marketplace and the disadvantages of government intervention shaped the outlook of American conservatives and had a major impact on the economic policy of the Ronald Reagan administration in the U.S. and on many other countries after 1980.

Answer 2

American economist. He won a 1976 Nobel Prize for his theories of monetary control and governmental nonintervention in the economy.
born July 31, 1912, Brooklyn, N.Y., U.S.) U.S. economist. Friedman studied at Rutgers and Columbia before joining the faculty of the University of Chicago in 1946. There he became the leading U.S. advocate of monetarism. He oversaw the economic transition in Chile after the overthrow of Salvador Allende. In the 1980s his ideas were taken up by Pres. Ronald Reagan and Britain's Margaret Thatcher. His many books include A Theory of the Consumption Function (1957) and Capitalism and Freedom (1962), both with his wife, Rose Friedman, and A Monetary History of the United States, 1867–1960 (1963) and Monetary Trends of the United States and the United Kingdom (1981), with economist Anna Schwartz. He received the Nobel Prize in 1976.
Scholarly contributions

Friedman was best known for reviving interest in the money supply as a determinant of the nominal value of output, that is, the quantity theory of money. Monetarism is the set of views associated with modern quantity theory, as largely formulated or influenced by Friedman. He co-authored, with Anna Schwartz, A Monetary History of the United States (1963), which sought to examine the role of the money supply and economic activity in U.S. history. A striking conclusion of their research was one regarding the role of money supply fluctuations as contributing to economic fluctuations. Or, as a representative of the Federal Reserve (one Ben Bernanke) pithily expressed it on the occasion of Friedman's 90th birthday in 2002: "Regarding the Great Depression. You're right, we did it. We're very sorry." Several regression studies with David Meiselman in the 1960s suggested the primacy of the money supply over investment and government spending in determining consumption and output. These challenged a prevailing but largely untested view on their relative importance. Friedman's empirical research and some theory supported the conclusion that the short-run effect of a change in the money supply was primarily on output but that the longer-run effect was primarily on the price level.

Friedman was also known for his refinement of the consumption function, the permanent income hypothesis (1957). It is considered by some academic economists as the greatest application of his own methodological position (see below). Other important contributions include his critique of the Phillips curve and the concept of the natural rate of unemployment (1968). Each of these has implications for the effect of monetary and fiscal policy on output in the short run and the long run.

Friedman's essay "The Methodology of Positive Economics" (1953) set the epistemological course for his own subsequent research and to a degree that of the Chicago School of Economics. There he argued that economics as science should be free of value judgments for it to be objective. Moreover, a useful economic theory should be judged not by its descriptive realism (hair color, etc.) but by its simplicity and fruitfulness as an engine of prediction.

Answer 3

The guy behind Pinochets coup in argentina that overthrew the democratically elected Allende regime?
The person ultimatly behind thatcherism?
Hayeks mind twin?
Take your pick.

Answer 4

Don't tell me he got your daughter pregnant as well?

If I get my hands on that Milton Friedman . . . . . . . .

Answer 5

Some people will write a whole bunch of hateful nonsense.
They do not tend to give Nobel Prizes in Economics to stupid, incorrect people.

He believed in liberty and many who believe in big centralized controlling government hated him for it.
Your life today is better because he lived.

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Answer 6

milton freedman was a liberal thikar.he saport to social justic with liberal policy