Today I want to take a moment and honor one of the world’s most preeminent advocate for free markets and personal liberty, Milton Friedman. Over his lifetime, Friedman helped shape fiscal policy across the world. Ronald Reagan, Margaret Thatcher, and Brian Mulroney all sought his advice.
Milton Friedman did not invent free markets, but he proved that laissez-faire policies must be at the foundation of any free society. Friedman was a statistician, economist, and public servant who advanced the idea of freedom based on minimizing government involvement to achieve economic, social, and political freedom.
Friedman received his Bachelor’s degree in 1932 from Rutgers University, a Master’s Degree from the University of Chicago in 1933, and a PhD from Columbia University in 1946. Friedman is a Nobel Laureate, a recipient of the Presidential Medal of Freedom, and the National Medal of Science.
The Nobel Laureate redefined the way we approach government regulation and economic structures, and has done more to diminish Keynesian, big government approach to economic theory more than any other economist. His ideas and writings have not only reshaped the thought process of free society, but also laid the groundwork for the fundamental principal of the free market…freedom.
If you have ever needed proof that a single individual and his ideas could influence policy the world over, you only need to look as far as Milton Friedman. His idea of individual responsibility, prosperity, and freedom unify his work and life. These are ideas that will transcend generations because of the work of Milton Friedman.
According to the Former Federal Reserve Board Chairman, Alan Greenspan, "There are very few people over the generations who have ideas that are sufficiently original to materially alter the direction of civilization. Milton is one of those very few people."
I cannot agree more. Milton Friedman’s worked influenced many, including this Conservative