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[[Image:Trw6543.jpg|right|thumb|Milton Friedman]]
[[Image:Trw6543.jpg|right|thumb|Milton Friedman]]
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]] and others, Friedman was among the intellectual leaders of the Chicago school of economics, a [[Neoclassical]] school of economic thought associated with the work of the faculty at the [[University of Chicago]] that rejected [[Keynesianism]] in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students, young professors, and academics who were recruited or mentored by Friedman at Chicago went on to become leading economicts, including Gary Becker, Robert Fogel, [[Thomas Sowell]], and Robert Lucas Jr.
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.<ref>[https://www.nobelprize.org/prizes/economic-sciences/1976/friedman/facts/ Milton Friedman], ''The Nobel Prize'', accessed June 16, 2020</ref> With [[George Stigler]] and others, Friedman was among the intellectual leaders of the Chicago school of economics, a [[Neoclassical]] school of economic thought associated with the work of the faculty at the [[University of Chicago]] that rejected [[Keynesianism]] in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students, young professors, and academics who were recruited or mentored by Friedman at Chicago went on to become leading economicts, including Gary Becker, Robert Fogel, [[Thomas Sowell]], and Robert Lucas Jr.
Friedman was the favorite economist of many conservatives (including [[Ronald Reagan]]), in part because nearly all other economists have been [[liberal]]. Friedman was an early advocate of [[School choice|free choice in education]], such that parents could spend their school tax dollars on the school of their choice.<ref>[http://www.ideachannel.tv/ "Free to Choose" (1980)]</ref>
==Early life==
==Early life==