Bøker av Milton Friedman

How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? Milton Friedman presents his view of the proper role of competitive capitalism both as a device for achieving economic freedom and a necessary condition for political freedom

Writing in the June 1965 issue of theEconomic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: "e;The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement--monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small . . . monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues."e; Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. In their influential chapter 7, The Great Contraction--which Princeton published in 1965 as a separate paperback--they address the central economic event of the century, the Depression. According to Hugh Rockoff, writing in January 1965: "e;If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger."e; Milton Friedman won the Nobel Prize in Economics in 1976 for work related to A Monetary History as well as to his other Princeton University Press book, A Theory of the Consumption Function (1957).

The noted Nobel Prize-winning economist, Milton Friedman, writes here on current issues of prevailing concern to every American citizen and taxpayer -- including inflation, its causes, and how to arrest it: monetary policy and the disappointing performance of the Federal Reserve Board: the recessions that continue to plague us: and the constraints that are placed upon the workings of a free market.In more than 70 short essays, most of them written for his regular column in Newsweek magazine. Professor Friedman displays the powers of analysis and expression that have made him both the most widely respected economist in America today and a trusted advisor to our nation's leaders.These short commentaries address six major themes, from issues of economic and political freedom, to governmental regulation and fiscal policy, to international economics. They reveal the dynamics behind many of our most pressing current problems, as well as Friedman's affirmation of America's most cherished ideals.

Frontmatter -- Table of Contents -- Preface -- Preface to Price Theory: A Provisional Text -- 1. Introduction -- 2. Theory of Demand -- 3. The "Welfare" Effects of Taxes -- 4. The Utility Analysis of Uncertainty -- 5. The Relationships Between Supply Curves and Cost Curves -- 6. The Law of Variable Proportions and a Firm's Cost Curves -- 7. Derived Demand -- 8. The Theory of Distribution with Fixed Proportions -- 9. The Theory of Marginal Productivity and the Demand for Factors of Production -- 10. Marginal Productivity Analysis: Some General Issues -- 11. The Supply of Factors of Production -- 12. Wage Determination and Unemployment -- 13. Wages in Different Occupations -- 14. Relation Between the Functional and Personal Distribution of Income -- 15. The Size Distribution of Income -- 16. Profits -- 17. The Theory of Capital and the Rate of Interest -- Appendix A: Reading Assignments -- Appendix B: Problems -- Index

This classic set of essays by Nobel Laureate and leading monetary theorist Milton Friedman presents a coherent view of the role of money, focusing on specific topics related to the empirical analysis of monetary phenomena and policy.

Economics is sometimes divided into two parts: positive economics and normative economics

This classic set of essays by Nobel Laureate and leading monetary theorist Milton Friedman presents a coherent view of the role of money, focusing on specific topics related to the empirical analysis of monetary phenomena and policy

Economics is sometimes divided into two parts: positive economics and normative economics

What is the exact nature of the consumption function? Can this term be defined so that it will be consistent with empirical evidence and a valid instrument in the hands of future economic researchers and policy makers? This book presents a theory of the consumption function, and tests it against extensive statistical material.

At the January 1977 meeting of its monthly Economic Seminar series, the Federal Reserve Bank of San Francisco was honored to present Prof. Franco Modigliani, Immediate Past President of the American Economic Association. In his paper, Prof. Modigliani developed some of the themes which he had first covered last September in his AEA Presidential Address, ¿gThe Monetarist Controversy"YOr, Should We Forsake Stabilization Policies?¿h The Bank was doubly fortunate to obtain, as seminar discussant, Nobel Laureate Milton Friedman, who was serving as Visiting Scholar at this institution during the winter term. This supplement to the Bank¿fs Economic Review contains Prof. Modigliani¿fs lecture, Prof. Friedman¿fs reply, the discussion between the two and a floor discussion"Yplus, as an appendix, Prof. Modigliani¿fs AEA Presidential Address. The seminar was chaired by Dr. Michael W. Keran, Vice President and Director of Research for the Federal Reserve Bank of San Francisco.

These two volumes present essays on the subdiscipline of Chicago Monetarism in economics. Some of the issues under dispute can be regarded as resolved, while others are still being debated. The contibutors include Friedman, Patinkin, Harry Johnson and James Tobin.

Milton Friedman was lauded as the grandmaster of free-market economic theory in the postwar era. This book collects many of Friedman's papers on topics in economics that were published in the "Journal of Political Economy". It incorporates papers from 1948 to 1990. It is useful for those tracing the course of 20th century economics and politics.

"[T]he only really sure way to beat inflation is to cut off inflation at the root. . . Milton Friedman [presents his strategy against] inflation in his penetrating . . . book . . . This is controversial stuff, and Professor Friedman . . . doesn''t blanch at what he feels is his call of duty. And many a banker will just see red . . . [This book] can be recommended for a good look at the real roots of inflationΓÇöthe look that thus far has not been widespread enough, among enough people."ΓÇöThe Wall Street Journal

Friedman and Schwartz's A Monetary History of the United States, 1867-1960, published in 1963, stands as one of the most influential economics books of the twentieth century. A landmark achievement, the book marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. The chapter entitled "e;The Great Contraction, 1929-33"e; addressed the central economic event of the century, the Great Depression. Published as a stand-alone paperback in 1965, The Great Contraction, 1929-1933 argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy--a concept that has come to inform the actions of central banks worldwide. This edition of the original text includes a new preface by Anna Jacobson Schwartz, as well as a new introduction by the economist Peter Bernstein. It also reprints comments from the current Federal Reserve chairman, Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.