Milton Friedman
Economist and Nobel laureate
Milton Friedman (1912-2006) was an American economist who won the 1976 Nobel Memorial Prize in Economic Sciences. He is the author of Capitalism and Freedom.
1 summary 22 min of listening
American Born 1912 in Brooklyn, United States Died 2006
About Milton Friedman
Milton Friedman was born in Brooklyn, New York, and studied mathematics and economics at Rutgers University. He went on to teach at the University of Chicago, where he was a leading figure of the Chicago school of economics. He championed monetarism and introduced the permanent income hypothesis, a theory about how people spend. His Nobel Prize recognized his work on consumption analysis, monetary history and theory, and stabilization policy. In Capitalism and Freedom (1962), Friedman argued for ideas such as school vouchers, a volunteer military, floating exchange rates and a negative income tax. With his wife, Rose D. Friedman, he also wrote the bestselling Free to Choose. He advised Ronald Reagan and Margaret Thatcher, and he founded the Friedman Foundation for Educational Choice, now called EdChoice.