person
Milton Friedman
American economist (1912–2006). Principal architect of postwar monetarism; AEA president 1967; Nobel laureate 1976.
Stub entry.
Milton Friedman’s career as an academic economist runs from his 1946 PhD at Columbia through five decades at Chicago. His 1968 AEA presidential address introduced the natural-rate hypothesis and is widely taken as the moment the postwar Phillips-Curve consensus ruptured. A Monetary History of the United States (with Anna Schwartz, 1963) recast the Great Depression as a monetary phenomenon and is the canonical text of the monetarist account of the cycle.