Milton Friedman Quotes
It all would have been much better if individuals saved for their own old age.
Friedman, Milton. "Social Security Chimeras." The New York Times, 11 Jan. 1999.
18 years later, his son—George W. Bush—made the “nutty idea” one of the main planks in his Presidential legislative program. After the younger Bush traveled the country selling his reform ideas, the public came down on the side of his father and rejected the President’s “nutty idea.”
Milton Friedman was an American economist and statistician 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. With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students and young professors who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell and Robert Lucas Jr.
