scholarly journals 100 Years since the Birth of Milton Friedman

2012 ◽  
Vol 12 (3) ◽  
pp. 185-203
Author(s):  
Marek Loužek
Keyword(s):  
The United States ◽  
Stabilization Policy ◽  
Price Theory ◽  
Consumption Function ◽  
American Economic Association ◽  
Monetary Stability ◽  
Milton Friedman ◽  
Economic Association ◽  
History Of ◽  
Positive Economics

Abstract The paper deals with the economic theory of Milton Friedman. Its first part outlines the life of Milton Friedman. The second part examines his economic theories - “Essays in Positive Economics” (1953), “Studies in the Quantity Theory of Money“ (1956), “A Theory of the Consumption Function” (1957), “A Program for Monetary Stability” (1959), “A Monetary History of the United States 1897 to 1960” (1963), and “Price Theory” (1976). His Nobel Prize lecture and American Economic Association lecture in 1967 are discussed, too. The third part analyzes Friedman’s methodology. Milton Friedman was the most influential economist of the second half of the 20th century. He is best known for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.

Irving Fisher and the Quantity Theory of Money: The Last Phase

2000 ◽  
Vol 22 (3) ◽  
pp. 329-348 ◽  
Author(s):  
Robert W. Dimand
Keyword(s):  
Great Depression ◽  
Monetary Economics ◽  
American Economic Association ◽  
Full Agreement ◽  
Monetary Policies ◽  
Quantity Theory ◽  
Milton Friedman ◽  
The Great Depression ◽  
Economic Association ◽  
History Of

Frank Steindl poses a surprising question in the title of his 1997 article, “Was Fisher a Practicing Quantity Theorist?” and reaches the conclusion that, “Clearly, with the decade of the Great Depression, Fisher was no longer a practicing quantity theorist” (Steindl 1997, p. 259). Such a change in Fisher's monetary economics would sharply revise the view of Irving Fisher generally prevailing in the history of monetary economics, which is based primarily on The Purchasing Power of Money (Fisher with Brown 1911). Fisher's photograph (along with photographs of Marshall and Wicksell) appears on the cover of The Golden Age of the Quantity Theory (Laidler 1991). As Mark Blaug (1995, p. 3) put it, “isn't Irving Fisher the quintessential quantity theorist if there ever was one [?]” Perhaps the most striking tribute to Fisher in the quantity theory tradition is from Milton Friedman, who, addressing the American Economic Association on the question “Have Monetary Policies Failed?” and having quoted from Fisher's 1910 exchange with J. L. Laughlin, remarked “And now I must cease quoting from Fisher, with whom I am in full agreement, and proceed instead to plagiarize him—albeit with modifications to bring him down to date” (Friedman 1972, p. 12).

scholarly journals A NEGLECTED INCONSISTENCY IN MILTON FRIEDMAN’S AEA PRESIDENTIAL ADDRESS

2016 ◽  
Vol 38 (1) ◽  
pp. 105-112 ◽  
Author(s):  
James Forder
Keyword(s):  
Phillips Curve ◽  
Presidential Address ◽  
American Economic Association ◽  
Milton Friedman ◽  
Economic Association

Milton Friedman (1968)—his famous Presidential Address to the American Economic Association—contains an elementary error right at the heart of what is usually supposed to be the paper’s crucial argument. That is the argument to the effect that during an inflation, changing expectations shift the Phillips curve. It is suggested that the fact of this mistake and of its having gone all but unnoticed are points of historical interest. Further reflections, drawing on the arguments of Forder (2014), Macroeconomics and the Phillips Curve Myth, are suggested.

scholarly journals Reflections of 25 Years of CSWEP: Resolution Adopted by the American Economic Association on December 29, 1971

1998 ◽  
Vol 12 (4) ◽  
pp. 175-176
Keyword(s):  
American Economic Association ◽  
25Th Anniversary ◽  
Milton Friedman ◽  
Economic Association ◽  
Economics Profession ◽  
The Status ◽  
Status Of Women

The Committee on the Status of Women in the Economics Profession recently celebrated its 25th anniversary. Here, we republish the text of the resolution that created CSWEP, along with comments on the role of CSWEP in the economics profession from Robin L. Bartlett, Barbara R. Bergmann, Carolyn Shaw Bell, and Milton Friedman.

Harold Adams Innis 1894–1952

1953 ◽  
Vol 13 (1) ◽  
pp. 1-1
Author(s):  
Edward C. Kirkland
Keyword(s):  
Economic History ◽  
The United States ◽  
American Economic Association ◽  
University Of Toronto ◽  
Charter Member ◽  
Economic Association ◽  
Learned Societies ◽  
The University ◽  
Canadian Economic History

In a long list of publications since 1923 Harold Innis with industry and insight set a pattern for the study and interpretation of Canadian economic history. The University of Toronto, the Dominion Government, and Canadian learned societies in their various fashions paid tribute to the high quality of this achievement. His career, moreover, was a refutation of his own generalization, perhaps playfully formulated, that no Canadian scholar could secure recognition in the United States. He was a charter member of the Committee on Research in Economic History, the second president of the Economic History Association, and at the time of his death president of the American Economic Association.

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