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Milton Friedman

The Extremely Clever Economist

kevin cox

on 14 May 2010

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Transcript of Milton Friedman

The Early Years Milton Friedman
The Extremely Clever Economist

by Kevin Cox What has he done? His brain!!!! Accomplishments:
Major economic theories:

The permanent income hypothesis=spending rates (overtime) remain at a constant percentage of income

Pro-free-market=he poked several holes in the keynesian theory such as the conclusion that there would need to be full employment for it to work

Plus many more theories!!!! Contributions to society: Bibliography http://nobelprize.org/nobel_prizes/economics/laureates/1976/friedman-autobio.html
Cyuthina D. Crain and Dwight R. Lee. Milton Friedman. North Carolina: 2010. print

Born July 31, 1912, in Brooklyn, NY

The youngest of 4 kids (he was the only boy) His parents (Sarah Ethel Landau and Jeno Saul Friedman)
were born in Carpatho-Ruthenia Known as one of the top economists in the world

Awarded a scholarship for Rutgers; graduated in 1932

Earned a Ph. D. from Columbia University

Awarded scholarship to University of Chicago for Economics

Earned equivalent major in both economics and mathematics

Wrote a column for "Newsweek Magazine"

Taught at University of Chicago

Awarded National Medal of Science in 1988

Awarded John Bates Clark Medal (1951)

Awarded Nobel Memorial Prize in Economics (1976)

Awarded Presidential Medal of Freedom 1988

Awarded National Medal of Science 1988
He wrote many books including:
FREE TO CHOOSE (made into ten programs)
MONETARY TRENDS IN THE UNITED STATES AND THE UNITED KINGDOM (based on research form the Bureau of Economic Research)

He was also on the Economic Policy Advisory Board durring the Reagan Presidency (1912-2006) The End
November 16, 2006 What has he done? (cont.)
Full transcript