Milton Friedman
Nobel Prize-winning economist, founder of monetarism, advocate for free markets
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and writer who received the Nobel Memorial Prize in Economic Sciences in 1976 for his research on consumption analysis, monetary history, and the complexity of stabilization policy. Born in Brooklyn to immigrant parents, Friedman studied mathematics and economics at Rutgers University and the University of Chicago, where he spent most of his academic career. He developed monetarism, an economic school of thought emphasizing the importance of the money supply in controlling inflation and supporting economic growth, challenging the prevailing Keynesian orthodoxy. Through his work at the University of Chicago, his bestselling book Capitalism and Freedom (1962), and his popular PBS television series Free to Choose, Friedman advocated for minimal government intervention, flexible exchange rates, and school choice through vouchers. His ideas profoundly influenced economic policy globally, particularly during the Reagan and Thatcher administrations. Friedman's legacy extends beyond economics into political philosophy, where he argued that economic freedom is inseparable from personal and political freedom, making him a towering figure in libertarian thought.
Science & Technology
American
1912
2006
Thinking about the name
Milton
English origin
“From the Old English elements 'myln' (mill) and 'tun' (settlement), Milton literally means 'settlement by the mill' and originated as a place name that became hereditary across English-speaking lands. Milton carries intellectual weight through association with poet John Milton and has maintained steady, understated popularity. It's a name that feels both grounded and cultivated.”