In the year 1946, a PhD in economics was earned by Milton Friedman from the Columbia University. Wide readership was achieved by him in a short period during his lifetime through his books, as well as, columns in different newspapers and magazines. In the year 1980, working of free market was explained efficiently by him in a television series, which became very popular, as it concentrated on different social problems that were deteriorating the society around the world. In other words, political and social autonomy was projected, and reduction of government’s role was targeted as a direct proportional to each other, which influenced a number of economists around the world. 23-27, 2007).įor instance, role of government was discouraged in a free market by Milton in his book, Capitalism and Freedom. In addition, Milton Friedman has written a number of books related to the economics that have been greatly appreciated in the market (Ebenstein, pp. Some experts have deemed Friedman as one of the innovative economists since the last century, as pioneering and original theories related to materialism had been introduced and provided by him during his lifetime. In the second half of the twentieth century, most of the economists and experts have considered Milton Friedman as one of the most influential and dominant personalities in the fields of economics, as well as, other related fields.
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