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In a 1999 Hoover Institution interview, economist Milton Friedman was asked which federal agencies he would abolish. As host Peter Robinson rattled off the Cabinet list, Friedman gave a blunt ...
[34] The result was what Friedman calls "The Great Contraction"—a period of falling income, prices, and employment caused by the choking effects of a restricted money supply. The mechanism suggested by Friedman and Schwartz was that people wanted to hold more money than the Federal Reserve was supplying. People thus hoarded money by consuming ...
Milton Friedman originally supported Nixon's proposal but eventually testified against it on account of its perverse labor incentive effects. [13] [14] Friedman was mainly opposed to the idea that Nixon's program would be combined with existing programs at that time, rather than replacing the existing programs as Friedman originally proposed. [2]
A new Friedman biography ably explores the economist's ideas but sidesteps the libertarian movement he was central to. The Best of Reason: Milton Friedman Was No Conservative Skip to main content
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]
A new Friedman biography ably explores the economist's ideas but sidesteps the libertarian movement he was central to. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please ...
Milton Friedman, winner of the Nobel Memorial Prize in Economic Sciences in 1976, member of the Chicago school of economics and a well-known opponent of socialism. Economist Milton Friedman argued that socialism, by which he meant state ownership over the means of production, impedes technological progress due to competition being stifled. He ...
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