Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students, young professors and academics who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, and Robert Lucas Jr.
Friedman in 2004
Friedman with Richard Nixon and George Shultz in 1971
Friedman receiving the Presidential Medal of Freedom from Ronald Reagan in 1988
Friedman in 1976
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is an economics award funded by Sveriges Riksbank and administered by the Nobel Foundation.
Claudia Goldin, winner of the 2023 prize
Announcement of the Sveriges Riksbank Prize in Economic Sciences 2008