PRESENTATION OUTLINE
conservative counterpart to galbraith
Milton Friedman
- Born in Brooklyn, NY
- Studied at Rutgers, Chicago, and Columbia
- Appointed as government economist during WW2
- Prof. at University of Chicago
- Received Nobel Prize for economics in 1976
influenced by amount of unproductive govt. intervention
government was purposely inducing cycles of economic growth
slow increase of public debt
Free marketers will largely resolve their own economic problems more effectively if they are left alone rather than subjected to government intervention.
individual self-sufficiency
program of guaranteed income
free market applied to education too
schools developed to meet demands of parents
schools that weren't good would close
Business cycles are determined by the money supply and interests rates, not by levels of taxation and government spending.
raise money supply by fixed amt. each year
if too much money goes in
everyone is saying something different
trade-off is something to consider
