AUSTIN, Texas – Nobel Prize winning economist Dr. Milton Friedman passed Thursday, November 16, 2006, at the age of 94 in San Francisco. The following statement was offered by Dr. Byron Schlomach, chief economist at the Texas Public Policy Foundation.

“Dr. Friedman’s passing is a great loss to our nation and the world,” said Dr. Schlomach. “It was an honor to meet and spend time with one of the greatest advocates of the free market and individual liberty, in this or any century. He has left an intellectual legacy that will resonate for many years to come.”

Dr. Friedman was a supporter of the Texas Public Policy Foundation. He just last year commended “the Texas Public Policy Foundation for its excellent work in support of personal liberty and free markets.”

Among other policy innovations, Dr. Friedman developed the concept of school choice in the mid-1950s as a way to improve the educational opportunities available to students and parents.