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Milton Friedman, Teacher, 1912–2006

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Nobel laureate Milton Friedman, who died on November 16, 2006, changed the course of modern central banking. Many of his proposals for the conduct of monetary policy were controversial at the time he made them but are now widely accepted. This Commentary reviews some of Friedman’s contributions to monetary economics.

Nobel laureate Milton Friedman, who died on November 16, 2006, changed the course of modern central banking. Many of his proposals for the conduct of monetary policy were controversial at the time he made them but are now widely accepted. This Commentary reviews some of Friedman’s contributions to monetary economics.


Suggested citation: Carlstrom, Charles T., and Timothy S. Fuerst, 2006. "Milton Friedman, Teacher, 1912–2006," Federal Reserve Bank of Cleveland, Economic Commentary, 12.01.2006.

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