Prominent free-market economist Milton Friedman, recipient of the 1976 Nobel Prize for Economic Science, passed away on November 16, 2006 at the age of 94. Friedman was widely regarded as the leader of the Chicago School of monetary economics, which stresses the importance of the quantity of money as an instrument of government policy and as a determinant of business cycles and inflation. In addition to his scientific work, Friedman also wrote extensively on public policy, always with primary emphasis on the preservation and extension of individual freedom. Friedman's ideas on economic freedom hugely influenced both the Reagan administration and the Thatcher government in the early 1980s, revolutionized establishment economic thinking across the globe, and have been employed extensively by emerging economies for decades.

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Biennial Award for individuals who
have made a significant contribution to advancing liberty.
Book of essays that evaluates the progress of Friedman's idea and reflects on its merits in the 21st century.

About Milton Friedman

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Milton Friedman, recipient of the 1976 Nobel Prize for Economic Science, was a Senior Research Fellow at the Hoover Institution, Stanford University, from 1977 to 2006. He was also Paul Snowden Russell Distinguished Service Professor Emeritus of Economics at the University of Chicago, where he taught from 1946 to 1976, and was a member of the research staff of the National Bureau of Economic Research from 1937 to 1981.

Professor Friedman was awarded the Presidential Medal of Freedom in 1988 and received the National Medal of Science the same year. He is widely regarded as the leader of the Chicago School of monetary economics, which stresses the importance of the quantity of money as an instrument of government policy and as a determinant of business cycles and inflation..

Complete biography of Milton Friedman

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Milton Friedman's Work for Cato

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