Milton Friedman Biograpgy

Milton Friedman (July 31, 1912 November 16, 2006) was an American economist, statistician, a professor at the University of Chicago, and the recipient of the Nobel animation Prize in Economic Sciences. Among scholars, he is best pick out for his theoretical and empirical research, especi eithery consumption analysis, monetary narration and theory, and for his manifestation of the complexity of stabilization constitution.[1] He was an economic adviser to U.S. electric chair Ronald Reagan. Over time, many presidencys practiced his restatement of a governmental doctrine that extolled the virtues of a free market economic trunk with teentsy intervention by government. As a drawing menu of the Chicago school of economics, based at the University of Chicago, he had freehanded influence in determining the research agenda of the ripe(p) profession. Milton Friedmans works, which include many monographs, books, scholarly articles, papers, magazine columns, television progra ms, videos, and lectures, cut a across-the-board range of topics of microeconomics, macroeconomics, economic history, and public insurance issues. The Economist described him as the most influential economist of the second half of the 20th centurypossibly of each of it.[2] Friedman was originally a Keynesian supporter of the New covering up and advocate of government intervention in the economy. However, his fifties reinterpretation of the Keynesian consumption function challenged the basic Keynesian model. At the University of Chicago, Friedman became the of import advocate for opposing Keynesianism.[3] During the 1960s he promoted an alternative macroeconomic policy known as monetarism. He theorized in that respect existed a natural rate of unemployment and he argued the central government could non micromanage the economy because people would realize what the government was doing and change their sieve to neutralize such policies. He rejected the Phillips Curve an d predicted that then-existing Keynesian pol! icies would cause stagflation (high inflation and...If you want to get a broad essay, order it on our website: OrderEssay.net

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