Biography
Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism before shifting their focus to new classical macroeconomics in the mid-1970s. Several students, young professors and academics who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Nobel laureates Gary Becker (1992), Robert Fogel (1993), and Robert Lucas Jr. (1995).
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Awards & recognition
- New Jersey Hall of Fame · 2019
- Adam Smith Award · 1989
- National Medal of Science · 1988
- Presidential Medal of Freedom · 1988
- honorary doctor of Harvard University · 1979
Show all 11 awards →
- Prize in Economic Sciences in Memory of Alfred Nobel · 1976
- John Bates Clark Medal · 1951
- Fellow of the Econometric Society · 1949
- Fellow of the Institute of Mathematical Statistics · 1943
- Distinguished Fellow of the American Economic Association
- Fellow of the American Statistical Association
