Question
Here is the question : WHICH NOBEL-WINNING ECONOMIST WROTE THE BOOK “CAPITALISM AND FREEDOM”?
Option
Here is the option for the question :
- Adam Smith
- Karl Marx
- Milton Friedman
- John Maynard Keynes
The Answer:
And, the answer for the the question is :
Explanation:
The American economist Milton Friedman ranks high among the century’s most significant contributors to the field. His ideas on the value of a free market and the role government should play in the economics of liberal nations were laid out in his best-selling book, “Capitalism and Freedom,” published in 1962, which gave him prominence beyond the realm of academia.
Milton Friedman was an American economist and statistician who is widely considered to be one of the most influential economists of the 20th century. He was awarded the Nobel Memorial Prize in Economic Sciences in 1976 for his contributions to the field of economics, particularly in the areas of monetary policy and consumption analysis. One of his most famous works is the book “Capitalism and Freedom,” which has become a classic of libertarian thought.
Published in 1962, “Capitalism and Freedom” is a book that focuses on the relationship between economic freedom and political freedom. In the book, Friedman argues that economic freedom is necessary for political freedom, and that a free market system is the best way to promote economic growth and individual liberty. He argues that government intervention in the market, whether through regulation or taxation, tends to stifle economic growth and limit individual freedom.
Friedman’s views on economics were controversial at the time of “Capitalism and Freedom’s” publication, as they challenged the prevailing Keynesian economic orthodoxy of the time. However, the book has since become a classic of libertarian thought and has had a profound impact on economic policy and political philosophy.
Friedman’s influence extended beyond the pages of “Capitalism and Freedom” to the realm of public policy. He was a vocal advocate for free market economics and laissez-faire policies, and his ideas had a significant impact on the economic policies of the Reagan and Thatcher administrations in the United States and the United Kingdom, respectively.
In addition to “Capitalism and Freedom,” Friedman authored numerous other books and articles on economics and public policy. He was a frequent commentator on economic issues in the media and was known for his clarity and accessibility in explaining complex economic concepts to a non-expert audience.
Milton Friedman was a Nobel-winning economist and statistician who is widely considered to be one of the most influential economists of the 20th century. His book “Capitalism and Freedom” has become a classic of libertarian thought and has had a profound impact on economic policy and political philosophy. Friedman was a vocal advocate for free market economics and laissez-faire policies, and his ideas continue to shape economic and political discourse to this day.