Milestones: Monday, July 31, 2023
EXTOLLED FREE MARKET, LIMITED GOVERNMENT — MILTON FRIEDMAN, born in Brooklyn on July 31, 1912, was a Nobel Prize–winning economist, teacher and author. He won the Nobel Prize for his research on the history and theory of money, consumption analysis and the macroeconomics concept of financial cycle stabilization, including business cycle and credit cycle. Friedman became a professor of economics and flourished at the University of Chicago, he produced some of his most prominent work during this time. He challenged some points of Keynesian economic theory but adapted others.
A believer in the free market and small government, Friedman, after his retirement, became an advisor to Republican U.S. President Ronald Reagan and Conservative British Prime Minister Margaret Thatcher.
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