Economic theories explore the relationships linking changes in the money supply to changes in economic activity and prices. With a mixture of theoretical ideas, philosophical beliefs, and policy prescriptions, these theories can help elaborate on both historic and current financial situations. For instance, the general understanding of the monetarist theory, founded by economist Milton Friedman, focuses on macroeconomic activities that examine the impact of changes […]

Milton Friedman, recipient of the 1976 Nobel Memorial Prize for economic science, was born on July 31, 1912 in Brooklyn, New York. He was the forth and last child of Sarah Ethel and Jeno Saul Friedman. Friedman was known as an American economist and as a public intellectual who made major contributions throughout his lifetime to the fields that were related to macroeconomics, microeconomics, economic […]