Throughout his career, Milton Friedman had come up with many different ideas that would assist the economy. His main thought to improve the society was to get the government less involved with the economy. His main goal was to exclude the government from interfering...
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...ea of the float exchange rate and his many other theories, is being used by most governments today. Friedman had a huge contribution in the scientific studies of economics and changed many views of people on the role of the government and the free market system. He presented his ideas through his books, interviews, and by becoming a politician. With a capitalist society the citizens are given many more advantages and freedom than a communist economy. The former advisor of President Reagan, Martin Anderson, had once stated, “If you step back and look at all the sweeping political and economic changes in the United States and even in other countries, a lot of people have had an important effect. But if you had to say one person who had the most impact, it’s Milton Friedman.” Milton Friedman has had a great influence on the world and will continue to in the long-run.
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- ... This idea became known as the “Chicago School” of economics, a concept of free-market capitalism. (Placeholder2) In the 1960’s Milton Friedman was known to say “there’s no such thing as a free lunch. “If the government spends a dollar, that dollar has to come from producers and workers in the private economy. There is no magical “multiplier effect” by taking from productive Peter and giving to unproductive Paul.” (Placeholder4) Friedman was best known for explaining the role of money supply in economic and inflation fluctuations.... [tags: liberalism, free enterprise, gov. intervention]
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