Milton Friedman, champion of free market

Milton Friedman
Milton Friedman
Milton Friedman, the Nobel Prize-winning economist who advocated an unfettered free market and had the ear of world leaders, died November 16, 2006. He was 94.

In more than a dozen books, television shows, and magazine columns, Friedman championed individual freedom in economics and politics. His theory of monetarism, adopted in part by the Nixon, Ford and Reagan administrations, opposed the traditional Keynesian economics that had dominated U.S. policy since the New Deal.

At the close of his academic career at the University of Chicago, he won the Nobel Prize in economics in 1976. His was always a strong and beneficial influence on the intellectual life of his family.