Milton Friedman

1912 - 2006 20th Century American

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Biographical Core

Milton Friedman (1912-2006) 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 stabilization policy. A leading intellectual of the Chicago school of economics, he rejected Keynesianism in favor of monetarism and championed free market economics with minimal government intervention. His permanent income hypothesis fundamentally changed how economists understood consumption, and his advocacy extended beyond academia to influence policymakers including Ronald Reagan and Margaret Thatcher, earning him recognition as possibly the most influential economist of the 20th century.

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