Economist:Milton Friedman: Difference between revisions
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Latest revision as of 21:04, 12 August 2025
Milton Friedman[edit]
Biography[edit]
American economist and statistician who received the 1976 Nobel Prize in Economic Sciences. A leader of the Chicago School of economics.
School of Thought[edit]
Chicago School
Notable Quotes[edit]
On Deflation and Central Banking[edit]
"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."[1]
On Economic Measurement in Digital Economy[edit]
"The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy."[2]
On Zero Marginal Cost Society[edit]
"There's no such thing as a free lunch."[3]
On AI Governance and Regulation[edit]
"The government solution to a problem is usually as bad as the problem."[4]
On Economic Measurement in Digital Economy[edit]
"One of the great mistakes is to judge policies and programs by their intentions rather than their results."[3]
References[edit]
- ↑ Milton Friedman, A Monetary History of the United States (1963), p. 17, Princeton University Press
- ↑ Milton Friedman, Free to Choose (1980), p. 71, Harcourt Brace Jovanovich
- ↑ 3.0 3.1 Milton Friedman, There's No Such Thing as a Free Lunch (1975), p. ix, Open Court Cite error: Invalid
<ref>tag; name "ref_1975_1" defined multiple times with different content - ↑ Milton Friedman, An Economist's Protest (1972), p. 6, Thomas Horton & Company