milton friedman

English - English

Definition of milton friedman in English English dictionary: {i} (1912-2006) American economist and advocate of the free market system, winner of the 1976 Nobel Prize for Economics; a US economist who helped to develop the idea of monetarism, the belief that the best way for a government to manage a country's economic system is to limit the amount of money that is available to be used. He won the Nobel Prize for Economics in 1976, and his ideas had an important influence on politics in the 1980s, because the economic policies of Margaret Thatcher and Ronald Reagan were based on them (1912- ). born July 31, 1912, Brooklyn, N.Y., U.S. U.S. economist. Friedman studied at Rutgers and Columbia before joining the faculty of the University of Chicago in 1946. There he became the leading U.S. advocate of monetarism. He oversaw the economic transition in Chile after the overthrow of Salvador Allende. In the 1980s his ideas were taken up by Pres. Ronald Reagan and Britain's Margaret Thatcher. His many books include A Theory of the Consumption Function (1957) and Capitalism and Freedom (1962), both with his wife, Rose Friedman, and A Monetary History of the United States, 1867-1960 (1963) and Monetary Trends of the United States and the United Kingdom (1981), with economist Anna Schwartz. He received the Nobel Prize in 1976

milton friedman