Description

In the United States, he helped to end the military draft, to broaden educational choice, and to change the regulatory climate. […] In several cases, Friedman’s methods inspired the creation of entire new subfi elds including the economic analysis of law, the quantitative approach to economic history, the economics of crime and punishment, the economics of family relationships, and the economic approach to fi nance-leading to mul- tiple Nobel prizes for Friedman’s acolytes. […] In the United States, he helped to end the military draft, to broaden educational choice, and to change the regula- tory climate. […] Money is supplied by the banking system and the monetary authorities (e.g., the Federal Reserve System in the United States, the Bank of Canada in Canada, and the Bank of England in the UK) in complicated ways, the details of which don’t much matter here. […] Nothing of the sort is true; Alice wants to reduce the real value of her money holdings-the number of hamburgers her pocket change can buy and the number of home repairs her checking account balance can cover-and by the end of the day she’s done exactly that.