Milton Friedman

Milton Friedman
Retrat de Milton Friedman
Born	31 July 1912
Died	16 November 2006  (aged 94) San Francisco
Resting place	San Francisco Bay
Occupation	Economist, university teacher, statistician
Works	See Milton Friedman bibliography
Spouse(s)	Rose Friedman
Awards	Prize in Economic Sciences in Memory of Alfred Nobel (for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy, 1976) Presidential Medal of Freedom (Ronald Reagan, 1988) Fellow of the Econometric Society (1949) honorary doctor of Harvard University (1979) Fellow of the Institute of Mathematical Statistics (1943) New Jersey Hall of Fame (2019)
Signature

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist. He believed in monetarism. Monetarism is the theory that how much money the government prints each year has a huge effect on the economy. He supported the government printing the same low rate of money each year rather than a different amount each year.

Friedman was born in Brooklyn, New York to a Hungarian-Jewish family. He was raised in Rahway, New Jersey. Friedman studied at Rutgers University, at Columbia University, and at the University of Chicago. He worked thirty years in Chicago with George Stigler as a leader of the Chicago school of economics.

During the 1970s, Milton Friedman's idea of monetarism gained popularity and he became an economic advisor to President Ronald Reagan.

Friedman believed that the government control over the economy should be limited. He supported cutting taxes, lowering government spending, getting rid of government rules that limited the economy and letting parents choose which school their taxes paid for. His political views were libertarian. He was against forcing people to join the army, and said that getting rid of United States military conscription was the thing he was most proud of doing.

Throughout several decades, Friedman made many documentaries, books, and interviews to express his views to the public. The main books he wrote were Capitalism and Freedom and Free to Choose.

Friedman married Rose Director in 1938. Together, they had a son and a daughter. He was agnostic.

Friedman died of heart failure in San Francisco, California, aged 94. He was survived by his wife and his two children. His remains were cremated and scattered over the San Francisco Bay area.

Bibliography

Books

• A Theory of the Consumption Function (1957) ISBN 1614278121.
• A Program for Monetary Stability (Fordham University Press, 1960) 110 pp. online version Archived November 1, 2011, at the Wayback Machine ISBN 0823203719
• Capitalism and Freedom (1962), highly influential series of essays that established Friedman's position on major issues of public policy (excerpts)
• A Monetary History of the United States, 1867–1960, with Anna J. Schwartz, 1963; part 3 reprinted as The Great Contraction
• "The Role of Monetary Policy", American Economic Review, Vol. 58, No. 1 (Mar. 1968), pp. 1–17 JSTOR presidential address to American Economics Association
• "Inflation and Unemployment: Nobel Lecture", 1977, Journal of Political Economy. Vol. 85, pp. 451–472. JSTOR 1830192
• Free to Choose: A Personal Statement, with Rose Friedman, (1980), highly influential restatement of policy views
• The Essence of Friedman, essays edited by Kurt R. Leube, (1987) (ISBN 0817986626)
• Two Lucky People: Memoirs (with Rose Friedman) ISBN 0226264149 (1998) excerpt and text search
• Milton Friedman on Economics: Selected Papers by Milton Friedman, edited by Gary S. Becker (2008)

Articles

• Friedman, Milton (1959). "The Demand for Money: Some Theoretical and Empirical Results". Journal of Political Economy. 67 (4): 327–51. doi:10.1086/258194.
• — (1968). "The Role of Monetary Policy" (PDF). American Economic Review. 58 (1): 1–17.
• — (1977). "Nobel Lecture: Inflation and Unemployment". Journal of Political Economy. 85 (3): 451–72. doi:10.1086/260579.
• — (1978). "The Limitations of Tax Limitation". Quadrant. 22 (8): 22–24.

Other websites

• Milton and Rose Friedman: An Uncommon Couple Archived 2015-02-19 at the Wayback Machine (Multiple Text, audio, video)
• The Milton Friedman papers at the Hoover Institution Archives
• Selected Bibliography for Milton Friedman at the University of Chicago Library
• Profile and Papers at Research Papers in Economics/RePEc
• Milton Friedman collected news and commentary at The New York Times
• Milton Friedman on IMDb
• Becker Friedman Institute at the University of Chicago
• The Foundation for Educational Choice
• Milton Fridman at Scarlett
• Inflation and Unemployment 1976 lecture at NobelPrize.org
• Nobel Prize acceptance speech
• Milton Friedman -Citizendium