Milton Friedman dies at 94
November 16, 2006 11:02 AM Subscribe
Milton Friedman has died.
One of the most famous economists to come out of the Chicago school
, his 1962 book Capitalism and Freedom
was a straightforward challenge to the predominant Keynesian model
that government intervention was frequently necessary to prevent market failures, arguing instead that the way to true political freedom was through economic freedom. He was a devout monetarist
and although conventional wisdom conflates conservatism with laissez-faire economics, he described his own philosophy as liberal
in the Enlightenment sense of the word. His 1980 book Free to Choose
, written with his wife Rose in conjunction with the PBS series
of the same name, explained in layman's term his philosophy of how a truly free market works for the benefit of society.
posted by Doofus Magoo (123 comments total)
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