Milton friedman contribution to economics

Milton Friedman was the twentieth century’s most prominent advocate of free markets. Born in to Jewish immigrants in New York City, he attended Rutgers University, where he earned his B.A.

at the age of twenty. He went on to earn his M.A. from the University of Chicago in and his Ph.D. from Columbia University in In Friedman received the John Bates Clark Medal honoring economists under age forty for outstanding achievement.

In he was awarded the Nobel Prize in economics for “his achievements in the field of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.” Before that time he had served as an adviser to President Richard Nixon and was president of the American Economic Association in After retiring from the University of Chicago in , Friedman became a senior research fellow at the Hoover Institution at Stanford University.

Friedman established himself in with Income from Independent Professional