Milton Friedman Biograpgy

Milton Friedman (July 31, 1912 November 16, 2006) was an American economic expert, statistician, a professor at the University of Chicago, and the recipient of the Nobel account Prize in Economic Sciences. Among scholars, he is best bed for his theoretical and empirical research, especi eithery consumption analysis, monetary narration and theory, and for his conclusion of the complexity of stabilization constitution.[1] He was an economic adviser to U.S. death chair Ronald Reagan. Over time, many governings practiced his restatement of a governmental school of thought that extolled the virtues of a free market economic trunk with lesser intervention by government. As a drawing placard of the Chicago school of economics, based at the University of Chicago, he had bountiful influence in determining the research agenda of the rock-steady profession. Milton Friedmans works, which include many monographs, books, scholarly articles, papers, magazine columns, television programs, videos, and lectures, pull off a long range of topics of microeconomics, macroeconomics, economic history, and public policy issues. The Economist described him as the most influential economist of the second half of the 20th centurypossibly of in all of it.

[2] Friedman was originally a Keynesian supporter of the New finish off up and advocate of government intervention in the economy. However, his mid-fifties reinterpretation of the Keynesian consumption function challenged the basic Keynesian model. At the University of Chicago, Friedman became the of import advocate for opposing Keynesianism.[3] During the 1960s he promoted an preference macroeconomic policy known a s monetarism. He theorized at that place ex! isted a natural rate of unemployment and he argued the central government could non micromanage the economy because people would realize what the government was doing and change their secern to neutralize such policies. He rejected the Phillips Curve and predicted that then-existing Keynesian policies would cause stagflation (high inflation and...If you want to get a broad essay, order it on our website: OrderEssay.net

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