Milton Friedman believed the heavy(p) Depression, from 1929 through and through 1932, could start out been avoided had the government injected sufficient liquidity into the economy. This moderne day economist, who passed away in 2006, opposed Keynesian views that said money does not matter, autonomous spending doesâ€" mainly government spending plus private investment, and that fiscal insurance policy is crucial while monetary policy is just a minor adjunct (Friedman and Friedman Two 228). Friedman worked through these ideas, proved them wrong, became the develop and leading proponent of monetarism, and was extremely influential among world leaders of the 20th century. He believed in limited government noise and that the main role of the government is to protect the freedoms of the people to countenance for competitive capitalism in a free grocery (Friedman and Friedman Capitalism 4). His views on economic science are followed closely immediately by Chairman of the Federal Reserve Ben Bernanke and others and his beliefs about avoiding the Great Depression will be standing the test of modern day times as today, the United States economy goes through a major recession.
Milton Friedmans tested economic theories have been popular among economists, especially as the US economy experienced booming times, and soon we may know if his advice was enough to actually steer us away from another potential depression.
Friedman was innate(p) in 1912 to Jewish immigrants in New York City. He was passing educated in the field of economic science having obtained a unmarried mans degree from Rutgers University in 1932, a masters degree from the University of Chicago in 1933 and a doctorate of economics from Columbia University in 1946. When he finished at Rutgers he had to make a choice. He had two tuition comprehension offers for graduate school--to study applied mathematics at browned or economics at Chicago. He loved economics and at the time, the United States was in the middle of the Great Depression. He knew the...If you want to get a full essay, order it on our website: Ordercustompaper.com
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