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Milton Friedman
Milton Friedman
(July 31, 1912 – November 16, 2006) was an
American
economist
. He believed in
monetarism
. Monetarism is the theory that how much money the government prints each year has a huge effect on the economy. He supported the government printing the same low rate of money each year rather than a different amount each year.
Friedman was born in
Brooklyn, New York
to a
Hungarian
-
Jewish
family. He was raised in
Rahway, New Jersey
. Friedman studied at
Rutgers University
, at
Columbia University
, and at the
University of Chicago
. He worked thirty years in
Chicago
with
George Stigler
as a leader of the
Chicago school of economics
.
During the 1970s, Milton Friedman's idea of monetarism gained popularity and he became an economic advisor to President
Ronald Reagan
.
Friedman believed that the government control over the economy should be limited. He supported cutting taxes, lowering government spending, getting rid of government rules that limited the economy and letting parents choose which school their taxes paid for. His political views were
libertarian
. He was against forcing people to join the army, and said that getting rid of United States military
conscription
was the thing he was most proud of doing.
Throughout several decades, Friedman made many documentaries, books, and interviews to express his views to the public. The main books he wrote were
Capitalism and Freedom
and
Free to Choose
.
Friedman married Rose Director in 1938. Together, they had a son and a daughter. He was
agnostic
.
Friedman died of
heart failure
in
San Francisco, California
, aged 94.
[1]
He was survived by his wife and his two children. His remains were
cremated
and scattered over the
San Francisco Bay area
.
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1969?1975
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1976?2000
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2001?present
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