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  2. Milton Friedman - Wikipedia

    en.wikipedia.org/wiki/Milton_Friedman

    Milton Friedman (/ ˈ f r iː d m ən / ⓘ; July 31, 1912 – November 16, 2006) was an American economist and statistician 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. [4]

  3. Essays in Positive Economics - Wikipedia

    en.wikipedia.org/wiki/Essays_in_Positive_Economics

    Its critics however, had by then long pointed out the flaw in Friedman's reasoning: by shielding assumptions from the requirement of realism, Friedman admits falsehoods as part of his theory. He defends against this by requiring only certain phenomena of interest to be explained, but as Samuelson pointed out, this can lead to unscientific ...

  4. Monetarism - Wikipedia

    en.wikipedia.org/wiki/Monetarism

    Friedman asserted that actively trying to stabilize demand through monetary policy changes can have negative unintended consequences. [5]: 511–512 In part he based this view on the historical analysis of monetary policy, A Monetary History of the United States, 1867–1960, which he coauthored with Anna Schwartz in 1963. The book attributed ...

  5. Friedman doctrine - Wikipedia

    en.wikipedia.org/wiki/Friedman_doctrine

    Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]

  6. C. B. Macpherson - Wikipedia

    en.wikipedia.org/wiki/C._B._Macpherson

    Macpherson's criticisms of Friedman rest on three claims: (1) an "error" that tarnishes Friedman's attempt to demonstrate that capitalism organizes the economic activities of society without coercion; (2) the "inadequacy" of his assertion that capitalism is a necessary component of freedom, and that socialism is inconsistent with freedom; and ...

  7. Chicago school of economics - Wikipedia

    en.wikipedia.org/wiki/Chicago_school_of_economics

    A further significant branching of Chicago thought was dubbed by George Stigler as "Chicago political economy". Inspired by the Coasian view that institutions evolve to maximize the Pareto efficiency, Chicago political economy came to the surprising and controversial view that politics tends towards efficiency and that policy advice is irrelevant.

  8. Venezuela’s Nicolas Maduro proves Milton Friedman right, 60 ...

    www.aol.com/finance/venezuela-nicolas-maduro...

    However, this claim does more to illustrate the incompatibility of a democratic political system and a socialist economic system than it does to establish Maduro's legitimacy as Venezuela's President.

  9. Capitalism and Freedom - Wikipedia

    en.wikipedia.org/wiki/Capitalism_and_Freedom

    The effects of Capitalism and Freedom were great yet varied in the realm of political economics. Some of Friedman's suggestions are being tested and implemented in many places, such as the flat income tax in Estonia (since 1994) and Slovakia (since 2004), a floating exchange rate which has almost fully replaced the Bretton Woods system, and ...

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