Milton Friedman Quotes


Related Quotes

Cixi had issued a 10 point edict designed to end opium use in China. One of its most interesting elements was that it only applied to Chinese under the age of 60. She recognized that for those elderly people who are thoroughly addicted to opium, prohibition would be to radical a change and their life expectancy was not very long. At the time, the average lifespan of Chinese was under 50.


Milton Friedman
Milton Friedman
  • Born: July 31, 1912
  • Died: November 16, 2006
  • Nationality: American
  • Profession: Economist

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.