Fifty Years Ago, Milton Friedman Upended Economic ‘Expertise’
Creator: John Phelan |
Date: 2026-10-29 06:00:00
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On October 14, 1976, the Royal Swedish Academy of Sciences awarded the Prize in Financial Sciences in Reminiscence of Alfred Nobel to Milton Friedman “for his achievements within the fields of consumption evaluation, financial historical past and principle, and for his demonstration of the complexity of stabilization coverage.”
What they have been actually crediting him for was disproving — after which rewriting — central premises of Keynesian economics.
I: Consumption…
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