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Several students and young professors who link recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary BeckerRobert FogelThomas Sowell [5] and Robert Lucas Jr. Friedman's challenges to what he later called "naive Keynesian theory" [7] began with his s reinterpretation of the consumption function. During the s he became the main advocate opposing Keynesian government policies, [8] and described his approach along with mainstream economics as using "Keynesian language and apparatus" yet rejecting its initial conclusions.
His monetary theory influenced the Federal Reserve's response to the global financial crisis of — He once stated that his role in eliminating conscription in the United States was his proudest accomplishment. In his book Capitalism and FreedomI Am A Student At The Fred advocated policies such as a volunteer militaryfreely floating https://amazonia.fiocruz.br/scdp/blog/purpose-of-case-study-in-psychology/analysis-of-william-faulkner-s-i-just.php ratesabolition of medical licensesa negative income tax and school vouchers [14] and opposed the war on drugs.
His support for school choice led him to found the Friedman Foundation for Educational Choice, later renamed EdChoice.
Friedman's works include monographs, books, scholarly articles, papers, magazine columns, television programs, and lectures, and cover a broad range of economic topics and public policy issues. Friedman was born in BrooklynNew York on July 31, They both worked as dry goods merchants. Shortly after his birth, the family relocated to Rahway, New Jersey. In his early teens, Friedman was injured in a car accident, which scarred his upper lip. He specialized in mathematics and economics, and became influenced by two economics professors, Arthur F.
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Burns and Homer Joneswho convinced him that modern economics could help end the Great Depression. Friedman graduated inand initially intended to become an actuary.
But he was offered two scholarships to do graduate work, one in mathematics at Brown University and the other in economics at the University of Chicago. At Chicago Friedman met his future wife, economist Rose Director.
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During the — academic year he Studeng a fellowship at Columbia Universitywhere he studied statistics with statistician and economist Harold Hotelling. He was back in Chicago for the — academic year, working as a research assistant https://amazonia.fiocruz.br/scdp/blog/woman-in-black-character-quotes/an-article-on-academic-evidence-and-influence.php Henry Schultzwho was then working on Theory and Measurement of Demand. That year, Friedman formed what would prove to be lifelong friendships with George Stigler and W. Allen Wallis. Friedman was unable to find academic employment, so in followed his friend W. Allen Wallis to Washington, D. Roosevelt 's New Deal was "a lifesaver" for many young economists.]
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