Milton Friedman’s Contributions to Economics


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Essay #: 052753
Total text length is 8,454 characters (approximately 5.8 pages).

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The beginning:
Milton Friedman’s Contributions to Economics
In 1990, the economist Milton Friedman wrote a book entitled Free to Choose. The title of this book is an appropriate summary of Friedman’s career as an economist, as it encapsulates Friedman’s approach to markets and policies.
While Friedman was unabashedly in favor of the laissez faire economics introduced into Western intellectual history by Adam Smith, he cannot be caricaturized as a mere proponent of deregulation. Friedman (1990) acknowledges that “Just as no society operates entirely on the command principle, so none operates entirely through voluntary cooperation” (p. 11). Friedman’s concern was to furnish technical arguments on behalf of the premise that an economy dominated...
The end:
.....f Chicago Press
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