On his death in the autumn of 2006, Milton Friedman was lauded as “the grandmaster of free-market economic theory in the postwar era” by the New York Times and “the most influential economist of the second half of the 20th century” by the Economist. Winner of the Nobel Prize in Economics in 1976, Friedman was both a highly respected economist and a prominent public intellectual, the leader of a revolution in economic and political thought that argued robustly in favor of virtues of free markets and laissez-faire policies. Milton Friedman on Economics: Selected Papers collects a variety of Friedman’s papers on topics in economics that were originally published in the Journal of Political Economy. Opening with Friedman’s 1977 Nobel Lecture, the volume spans nearly the whole of his career, incorporating papers from as early as 1948 and as late as 1990. An excellent introduction to Friedman’s economic thought, Milton Friedman will be essential for anyone tracing the course of twentieth-century economics and politics.
This volume assesses the importance of the full range of Friedman's ideas, from his work on methodology in economics, his highly innovative consumption theory, and his extensive research on monetary economics, to his views on contentious ...
Contrasts Friedman's statements on methodology with his practice as an economist
Among the indispensable writings included in this book: "Liberalism, Old Style" (1955), discusses the transformation of the original meaning of liberalism "The Counter-Revolution in Monetary Theory" (1970), his most important lecture on ...
Includes bibliographical references and index.
The notion that the aggregate price level was not predetermined formed, as already indicated, a key part of Friedman's theory of the Phillips curve. That theory had prices become elevated in relation to nominal wages in the early stages ...
In this classic discussion, Milton and Rose Friedman explain how our freedom has been eroded and our affluence undermined through the explosion of laws, regulations, agencies, and spending in Washington.
Price Theory is concerned not with economic problems in the abstract, but with how a particular society solves its economic problems.
A team of world-renowned experts cast new light on Milton Friedman's 1953 essay 'The methodology of positive economics'.
Carter's approval rating in the polls continued to slide.2 Samuelson thought Carter had wished the bad economic news on himself. If he was to stand any chance of being reelected, the president needed to do something dramatic to break ...
This paper is concerned primarily with certain methodological problems that arise in constructing the "distinct positive science" that John Neville Keynes called for, in particular, the problem how to decide whether a suggested hypothesis ...