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Milton Friedman
Wiki, Age, Height, Net Worth 2017


Birthday

: 31 July 1912

Sign

: Leo

Died

: 16 November 2006

Lived

: 94 years

Wiki


  • Milton Friedman 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
When was Milton Friedman born?31 July 1912
When did Milton Friedman die? / Died16 November 2006
How many years did Milton Friedman live? / Lived94 years
Zodiac sign:Leo

Milton Friedman facts


  • 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, Thomas Sowell and Robert Lucas, Jr
  • Friedman's challenges to what he later called aive 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 atural" 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 atural 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


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