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The Friedman doctrine, also called shareholder theory, is a normative theory of business ethics advanced by economist Milton Friedman which holds that the social responsibility of business is to increase its profits. [1]
Friedman's counterpart Keynes believed people would modify their household consumption expenditures to relate to their existing income levels. [65] Friedman's research introduced the term "permanent income" to the world, which was the average of a household's expected income over several years, and he also developed the permanent income ...
Capitalism and Freedom was published nearly two decades after World War II, a time when the Great Depression was still in collective memory.Under the Kennedy and preceding Eisenhower administrations, federal expenditures were growing at a quick pace in the areas of national defense, social welfare, and infrastructure.
(Bloomberg Opinion) -- My Bloomberg Opinion colleague Joe Nocera is a onetime believer in Milton Friedman’s doctrine who has changed his mind. He explains why here.Fifty years ago this month ...
The Friedmans also argue that declining academic performance in the United States is the result of increasing government control of the American education system tracing back to the 1840s, but suggest a voucher system as a politically feasible solution.
Friedman argued that the Great Depression was result of a contraction of the money supply controlled by the Federal Reserve and not by the lack of investment as John Maynard Keynes: "There is likely to be a lag between the need for action and government recognition of the need; a further lag between recognition of the need for action and the ...
Monetarism is mainly associated with the work of Milton Friedman, who was an influential opponent of Keynesian economics, criticising Keynes's theory of fighting economic downturns using fiscal policy (e.g. government spending).
A Program for Monetary Stability is a book by the US economist Milton Friedman. It has been published by Fordham University Press in 1960 with consecutive re-prints appearing in 1961, 1963, 1965, 1969, 1970, 1975, and 1980. [1]