Milton Friedman, the world’s greatest exponent of economics, has passed away.
SAN FRANCISCO, Nov 16 (Reuters) – Milton Friedman, the free market economist and winner of a 1976 Nobel Prize, died on Thursday morning of heart failure, a spokeswoman for his family said. He was 94.
Friedman’s ideas played a pivotal role in forming the governing philosophies of world leaders like Margaret Thatcher and Ronald Reagan.
He preached free enterprise in the face of government regulation and advocated a monetary policy that called for steady growth in money supplies.
The influential economist died in a hospital in the San Francisco area, the spokeswoman said.