One of the great economists of the 20th century, Milton Friedman has always challenged the prevailing economic orthodoxy. At the same time, his work has become popular because it is engagingly written and because it helps in practical prediction. Thanks to Friedman, money is now regarded as a far more powerful factor than it had been before. It offers the prospect of permanently controlling the inflation that has become the most important economic problem of our age.
Eamonn Butler’s clear, systematic, perceptive study deftly describes Friedman’s ideas and explains their significance. Starting with a short survey of Friedman’s career, Dr. Butler goes on to analyze the main elements in his thought, including the importance of monetary policy, the supply of money, the factors that influence demand, the causes and nature of inflation, and much more.