Milton Friedman
Common Sense that can Save a Nation
(Ignoring it can Destroy One)
What has Milton Friedman
done for America?
Milton Friedman (1912-2006) was a renowned American economist, statistician, and philosopher who made significant contributions to America and the world. Here are some of his key achievements:
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Monetarism: Friedman developed the theory of monetarism, which emphasizes the role of money supply in economic activity. He argued that monetary policy is more effective than fiscal policy in stabilizing the economy.
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Free Market Advocacy: Friedman was a strong advocate for free market principles, limited government intervention, and individual freedom. He believed that free markets promote economic growth, innovation, and prosperity.
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Critique of Socialism: Friedman critiqued socialism and government control, arguing that they lead to inefficiencies, corruption, and reduced individual freedoms.
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Fiscal Policy: Friedman’s work influenced the development of fiscal policy, particularly in the area of tax cuts and reduced government spending.
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Inflation Control: Friedman’s monetarist theories helped shape policies to control inflation, which was a major concern in the 1970s and 1980s.
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Economic Growth: Friedman’s ideas on free markets, entrepreneurship, and innovation contributed to America’s economic growth and prosperity.
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Nobel Prize: Friedman was awarded the Nobel Memorial Prize in Economic Sciences in 1976 for his achievements in consumption analysis, monetary history, and theory.
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Public Policy Influence: Friedman’s ideas influenced public policy, including the Reagan Revolution and Thatcherism, shaping the economic agendas of the 1980s.
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Education and Research: Friedman was a prolific writer, publishing numerous books and articles. He also founded the Friedman Foundation for Educational Choice, promoting school choice and education reform.
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Legacy: Friedman’s work continues to inspire economists, policymakers, and thinkers, cementing his legacy as one of the most influential economists of the 20th century.
Friedman’s contributions have had a lasting impact on America’s economic landscape, promoting free markets, limited government intervention, and individual freedom.
source: meta.ai
“We have met the enemy, and they is us”
Milton Friedman argues for school choice
Simple, common sense, logic, but powerful.
Source of inflation
When you spend your own money on yourself, or on someone else you are very careful, but what happens when you spend someone else’s money? how careful are you then?
More to come …
Suggestions Welcome.