Nobel economist Milton Friedman dead at 94
Milton Friedman, the Nobel-prize winning economist who helped shape and define free-market economic theory, died Thursday at the age of 94 in San Francisco.A spokesman for the Milton & Rose Friedman Foundation confirmed the news to CNN.
The cause was heart failure, according to Reuters.
Friedman, who won the Nobel prize in 1976, helped interpret and popularize modern free-market economics that came to dominate much of U.S. public policy in the second half of the 20th century.
Free-market economic theories, which included tight fiscal discipline and deregulation of markets, grew influential in the United States after Ronald Reagan became president in the United States.
Friedman was regarded as the leader of the Chicago School of monetary economics and the leading proponent of free-market theory.
A sad day. Milton Friedman has certainly shaped my thoughts, and helped my understanding, of economics and the importance of freedom to a successful economy than anyone else. If you haven’t read anything by him, I highly suggest Capitalism and Freedom. Even if you don’t agree with everything he has to say, I expect that encountering him will cause you to think deeply about some of your basic assumptions, which is always a good thing.
RIP Milton.
You beat me to it–but my post has a link to Capitalism and Freedom on Amazon. Buy It Here.