Milton Friedman: Contributions to Economics and Public Policy

Milton Friedman is widely regarded as one of the most influential economists of the twentieth century. Although he made many important contributions to both economic theory and policy - most clearly demonstrated by his development of and support for monetarism - he was also active in various spheres of public policy, where he more often than not pursued his championing of the free market and liberty. This volume assesses the importance of the full range of Friedman's ideas, from his work on methodology in economics, his highly innovative consumption theory, and his extensive research on monetary economics, to his views on contentious social and political issues such as education, conscription, and drugs. It also presents personal recollections of Friedman by some of those who knew him, both as students and colleagues, and offers new evidence on Friedman's interactions with other noted economists, including George Stigler and Lionel Robbins. The volume provides readers with an up to date account of Friedman's work and continuing influence and will help to inform and stimulate further research across a variety of areas, including macroeconomics, the history of economic thought, as well as the development and different uses of public policy. With contributions from a stellar cast, this book will be invaluable to academics and students alike. Contributors to this volume - Robert D. Auerbach,The University of Texas at Austin Nicholas Barr, London School of Economics Vincent Barnett, Research Fellow William A. Barnett, University of Kansas and Center for Financial Stability Peter J. Boettke, George Mason University Lawrence A. Boland, Simon Fraser University Michael D. Bordo, Rutgers University Michael J. Boskin, Stanford University Marcel Boumans, University of Amsterdam and Erasmus University Rotterdam Russell S. Boyer, University of Western Ontario Rosolino Candela, George Mason University Gregory C. Chow, Princeton University Robert A. Cord, researcher in economics Selwyn Cornish, Australian National University Harris Dellas, University of Bern Gerald P. Dwyer, Clemson University Neil R. Ericsson, Federal Reserve System Craig Freedman, The Australian School of Business Roger W. Garrison, Auburn University J. Daniel Hammond, Wake Forest University Arnold C. Harberger, University of California, Los Angeles G.C. Harcourt, University of Cambridge and University of Adelaide David F. Hendry, Oxford University Robert L. Hetzel, Federal Reserve Bank of Richmond Stedman B. Hood, PlateJoy Inc. Susan Howson, University of Toronto Douglas A. Irwin, Dartmouth College Morris M. Kleiner, University of Minnesota Peter Kriesler, University of New South Wales Eugene Lerner, Hightower Investment Advisors James R. Lothian, Fordham University Robert E. Lucas, Jr., University of Chicago Bennett T. McCallum, Carnegie Mellon University Allan H. Meltzer, Carnegie Mellon University and Stanford University Patrick Minford, Cardiff University Edward Nelson, University of Sydney J.W. Nevile, University of California, Berkeley Thomas I. Palley, AFL-CIO Sylvie Rivot, University of Mulhouse John J. Seater, Boston College Richard Selden, University of Virginia John D. Singleton, Duke University Scott B. Sumner, Bentley University George S. Tavlas, Bank of Greece Mark Thornton, Ludwig von Mises Institute Paul Turpin, University of the Pacific K. Vela Velupillai, University of Trento