Milton Friedman Economic Theory. With george stigler and others friedman was among the intellectual leaders of the chicago school of economics a. He said that the antidote to inflation was higher interest rates which in turn reduces the money supply.
Friedman s best known contributions are in the realm of monetary economics where he is regarded as the founder of monetarism and as one of the successors of the chicago school tradition of economics. At every opportunity friedman argued passionately against government intervention and. American economist milton friedman developed the doctrine as a theory of business ethics that states that an entity s greatest responsibility lies in the satisfaction of the shareholders the business should therefore always endeavor to maximize its revenues to increased returns for the shareholders.
With george stigler and others friedman was among the intellectual leaders of the chicago school of economics a.
American economist milton friedman developed the doctrine as a theory of business ethics that states that an entity s greatest responsibility lies in the satisfaction of the shareholders the business should therefore always endeavor to maximize its revenues to increased returns for the shareholders. July 31 1912 november 16 2006 was an american economist who received the 1976 nobel memorial prize in economic sciences for his research on consumption analysis monetary history and theory and the complexity of stabilization policy. Yet many others saw in it a timely. With george stigler and others friedman was among the intellectual leaders of the chicago school of economics a.
