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Free market economist dies
Milton Friedman, economist and Nobel laureate, dies in San Francisco.
Last Modified: 17 Nov 2006 04:57 GMT
Friedman's ideas were influential to
several post-war Western leaders
Milton Friedman, an economist and Nobel laureate, has died at the age of 94.
 
The former University of Chicago professor, an advocate of individual freedoms in economics and politics, died in San Francisco on Thursday morning, a spokeswoman for his family said.
 
Friedman was awarded a Nobel prize for his work in 1976.

Widely regarded as the architect of monetary economics, which places importance on the quantity of money as a tool of government policy to fight inflation, Friedman was an influence on several post-war leaders including Ronald Reagan and Margaret Thatcher.

 

Influence

 

Friedman held a BA degree from Rutgers University, an MA degree from the University of Chicago and PhD from Colombia University.

 

He provided economic advice to Ronald Reagan, former US president, via the Economic Policy Advisory Board.

 

He also served as an economic advisor to Richard Nixon in his successful 1968 presidential campaign.

 

Friedman was the author of several influential books and articles, including 'A Theory of the Consumption Function' and 'Capitalism and Freedom'.
Source:
Agencies
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