Milton Friedman, RIP

Dead at age 94.

Friedman, who won the Nobel prize in 1976, helped interpret and popularize modern free-market economics that came to dominate much of U.S. public policy in second half of the 20th century.

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Friedman was regarded as the leader of the Chicago School of monetary economics and the leading proponent of free-market theory.

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Overseas, Friedman's work helped shape policies used in Chile and Argentina in the 1970s.

Friedman received his BA from Rutgers University in 1932, an MA from the University of Chicago the next year. In 1946 he received his Ph.D. from Columbia University.

Cowbell? Friedman might appreciate that the financial markets are all hitting either all-time or post-bubble highs, including the broad S&P gauge, now only 8% beneath its all-time high.

posted by Ace at 02:16 PM

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