Milton Friedman

Friedman, Milton (1912– ), U.S. economist, proponent of the monetarist theory, which regards the money supply as the central controlling factor in economic development. A professor at the University of Chicago from 1946, he has written A Monetary History of the U.S.: 1867–1960 (1963) and Free to Choose (1980; with Rose Friedman), a defense of free market capitalism. He was awarded the 1976 Nobel Prize in economic science.