Milton Friedman
Websites : Becker Friedman Institute, Nobel Prize, Hoover Institution
Milton Friedman is a noted contributor to Encyclopaedia Britannica online. Read Britannica's biography of Milton Friedman
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
Primary Contributions (1)
Money, a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed; as currency, it circulates anonymously from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth. (Read…
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Publications (5)
A Monetary History of the United States, 1867-1960
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...
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Why Government Is the Problem (Essays in Public Policy) (Volume 39)
"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...
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Money Mischief: Episodes in Monetary History
Friedman makes clear once and for all that no one is immune from monetary economics-that is, from the effects of its theory and its practices. He demonstrates through historical events the mischief that can result from misunderstanding the monetary system. Index. Booknews Nobel Prize-winner Friedman demonstrates through historical events the mischief that can result from misunderstanding the monetary system, and explains what the present monetary system in the US means for individual...
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Free to Choose: A Personal Statement
In This Classic About Economics, Freedom, And The Relationship Between The Two, Milton And Rose Friedman Explain How Our Freedom Has Been Eroded And Our Prosperity Undermined Through The Explosion Of Laws, Regulations, Agencies, And Spending In Washington, And How Good Intentions Often Produce Deplorable Results When Government Is The Middleman. The Friedmans Also Provide Remedies For These Ills--they Tell Us What To Do In Order To Expand Our Freedom And Promote Prosperity. The International Bestseller...
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Capitalism and Freedom: Fortieth Anniversary Edition (40th Anniversary Edition)
Selected by the Times Literary Supplement as one of the "hundred most influential books since the war"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...
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