Today marks a special day for free market enthusiasts-the 99th birthday of the late, great economist Dr. Milton Friedman.
During his lifetime, Dr. Friedman distinguished himself by, among other things, challenging the prevailing economic theory of the day (Keynesian economics), leading the Chicago School of monetary economics (a school of thought that rejects Keynesianism in favor of a market-based approach), and championing policies that promoted freedom and individual liberty, such as eliminating the draft, creating a school voucher system, and instituting a “flat tax.”
Dr. Friedman was also revered for writing several free market masterpieces, including Capitalism and Freedom, Free to Choose, and Price Theory.
For his achievements, Dr. Friedman received numerous awards, including a Nobel Memorial Prize for economics, the Presidential Medal of Freedom, and the National Medal of Science. He was indeed a giant among men and his intellect is sorely missed in today’s economic climate.
Here is a short tribute about the life and work of Dr. Milton Friedman from Reason.tv.
– Samantha Soliz Research Fellow, Center for Fiscal Policy