Milton Friedman Quotes


Related Quotes

The nation, under the pressure of a depression, had adopted a free trade philosophy. We would go back to protectionism in the 1930s and back to free trade in the 1960s. Ironically, it was generally the Republican party that has driven these shifts. There has always been a free trade wing of the party and an isolationist wing.


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.