Milton Friedman - An introduction to economics, a brief biography, and brief outline on monetarism.
Date Submitted: 10/31/2002 22:25:39
Category: / Business & Economy / Economics
Length: 2 pages (650 words)
Category: / Business & Economy / Economics
Length: 2 pages (650 words)
Society is faced with the everyday problem of unlimited wants and limited resources; this is what economists call the "economic problem." Hence, the study of how to deal with the economic problem is called "economics". Economics mainly "associates with the production, distribution, and consumption of goods and services with the theory and management of the economy," (http://dictionary.reference.com/search?q=Economics). Economists study the patterns and trends in economic systems. With the gained …
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…amp; Sturges, p.112, 1983). After an enjoyable career, to give back, Friedman and his wife started the Milton & Rose D. Friedman Foundation to provide education for the unfortunate. Being one of the greatest economists, in 2003, he admitted that one of his policies, targeting the money supply, had "not been a success" and he doubted he would "as of today, push it as hard as I once did," (http://www.economist.com/research/economics/alphabet).
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