Intro; Also in the Great Thinkers in Economics series; Acknowledgements; Contents; 1 Introduction; Part I Friedman's Life and Autobiography; 2 Part I Introduction; 3 Two Lucky People; 1 Two Lucky People; 2 A Sample of Missing and Forgotten Matters; 3 An Unintellectual Work; 4 On Not Judging Motives; 5 Friedman's Economics; 6 Conclusion; 4 Three Controversies; 1 The Publication of Friedman and Kuznets; 2 Friedman in Chile; 3 Monetary Trends ... in the United Kingdom; 4 Conclusion; 5 Friedman in Britain in the 1970s and 1980s; 1 Friedman and Thatcher
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12 Part III Introduction13 The Monetary History and Monetary Statistics; 1 Monetary Statistics; 2 Monetary History; 14 Quantity Theory Themes; 1 The 'Restatement', and Other Restatements; 2 The 'Oral Tradition' of the Quantity Theory; 3 The Stability of Velocity; 4 Causation; 5 The Quantity Theory Versus the Income-Expenditure Theory; 5.1 Friedman and Becker; 5.2 Friedman and Meiselman (1963); 5.3 Friedman's Theoretical Framework for Monetary Analysis; 5.4 A Sequel to A Theoretical Framework; 5.5 The Quantity Theory or the Income Expenditure Theory?
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2 Friedman at the Institute of Economic Affairs, and Elsewhere3 Friedman in the British Public Eye; 4 Conclusion; 6 Part I Conclusion; Part II Milton Friedman's Economics, 1935-1957; 7 Part II Introduction; 8 An Early Miscellany?; 1 Statistics; 2 The Theory of Demand; 3 The Marshallian Demand Curve; 4 Book Reviews; 5 Choice Under Uncertainty; 6 Labour Unions; 7 Macroeconomics and Money; 8 Flexible Exchange Rates; 9 Conclusion; 9 Consumption; 1 Theory of the Consumption Function; 2 Reactions to A Theory of the Consumption Function
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3 Aspects of the Theory of Consumption Before A Theory of the Consumption Function4 The Importance of A Theory of the Consumption Function; 10 Methodology; 1 Friedman's Argument; 2 Responses to Friedman; 3 Assessing Friedman's Essay; 4 Three Good Ideas and Their Origins; 5 Other Methodological Issues; 5.1 Marshallianism and Walrasianism; 5.2 Causation; 5.3 Positive and Normative Economics, and the Explanation of Disagreement; 6 Friedman's Essay, and Friedman's Methodology, 1935-1957; 7 Conclusion on the Methodology of Positive Economics; 11 Part II Conclusion; Part III Friedman on Money
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6 Friedman's Accounts of Developments in Monetary Thought15 Stabilization Policy and the Causes of Inflation; 1 Rules and Discretion Continued; 2 The Optimum Quantity of Money; 3 The Causes of Excess Growth in the Quantity of Money; 3.1 Always and Everywhere a Monetary Phenomenon-Cost-Push Inflation; 3.2 The Interests of the Federal Reserve; 3.3 Development and Inflationary Government Finance; 3.4 Indexation and Disinflation; 16 The Phillips Curve; 1 The Phillips Curve Myth; 2 Friedman on the Phillips Curve Before the Presidential Address
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SUMMARY OR ABSTRACT
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This book examines the work of Milton Friedman, which is amongst the most significant in modern economics and, equally, amongst the most contentious. Although Friedman became most famous for his views on money and monetary policy as well as his public writings, a large and important part of his work concerned other aspects of economics. All parts of Friedman's work are considered here, as is his account of his own life. By focussing on what Friedman wrote rather than what later authors have written about him, this volume seeks to analyse the character, qualities and development of the arguments he made. This text is important for anyone interested in this both celebrated and reviled figure in economics. James Forder clarifies messages in Friedman's writing that have otherwise so often been obscured by academic and public controversy.