Rest in Peace, Professor Friedman
He was the single most influential economist of the latter half of the 20th century, possibly of the entire century, save von Mises. He will be missed.
NEW YORK (CNNMoney.com) — Milton Friedman, the Nobel Prize-winning economist who helped shape modern free market economics, died Thursday in San Francisco. He was 94.
His seminal work on reinvigorating supply-side economics could easily be cited for the expansion of the technology industry and its associated innovations in the sciences, and his ideas will touch the world for generations to come.
Friedman’s theories, which included tight fiscal discipline and deregulation of markets, grew influential in the United States after Ronald Reagan became president.
Friedman’s ideas were embraced by President Reagan and British Prime Minister Margaret Thatcher in the 1980s and lauded by many in the business world. But they were also controversial because of the deep cuts in government spending and the more restricted role they entailed for government in buffering citizens from economic forces.
Friedman was regarded as the leader of the Chicago School of monetary economics and the leading proponent of free market theory.
Rest in peace, good sir. Hope to see you on the other side.
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