INTRODUCTION Milton Friedman's ideas were considered radical, but he was the most authoritative figure in the field of economics in the 20th century, (Placeholder2) and was best known for his thoughts on free enterprise, classic liberalism and limited government. (Placeholder3) His views have shaped modern capitalism. (Placeholder2) He was against government intervention and in favor of the free market (Placeholder6). “If we gave the federal government responsibility for the Sahara Desert, there would be a sand shortage in 5 years.” – Milton Friedman His contributions were many, to name a few: • Monetary theory and policy • Price theory • Permanent income • Quantitative theory • Consumption function and permanent income hypothesis • Theory and results related to the Friedman-Phelps Phillips curve related to macropolitics • International finance and exchange rate policy • Negative income tax (became earned income tax credit) • School vouchers to improve the education system. Milton Friedman was ahead of his time and his views still shape capitalism today. EARLY LIVES Milton Friedman was born in Brooklyn in 1912 to Jewish immigrant parents. He had three brothers. He attended Rutgers University, Chicago University and Columbia. He concentrated on mathematics and economics. (Placeholder6)Milton Friedman enrolled at Rutgers University at age 16 in 1928 and graduated in 1932 during the Great Depression. As a young man, Friedman had no active interest in economics and social policy. He became interested in mathematics and statistics and then in economics. (Placeholder8) He graduated from Rutgers with a major in economics. He later enrolled in the University of Chicago's graduate business program. He transferred to Columbia University...... middle of paper...... 1-30. Retrieved April 16, 2014, from http://eds.b.ebscohost.com/eds/detail?sid=lfe3ea92-4b27-4010-aef6-1Ip, G., & Whitehouse, M. (2006, November 17). How Milton Friedman changed economics, politics and markets. The Wall Street Journal, N/A, A1. Retrieved April 16, 2014, from http://online.wsj.com/news/articles/SB116369744597625238(2014). Monetarism. In the Encyclopedia Britannica (Vol. N/A, p. N/A). N/A: Encyclopedia Britannica. Retrieved April 17, 2014, from http://www.britannica.com/EBchecked/topic/389146/monetarismMoore, S. (2012). The man who saved capitalism. The Wall Street Journal, N/A(N/A), N/A. Retrieved April 16, 2014, from http://online.wsj.com/news/articles/SB10000872396390444226904577558882802335216?mod=WSJ_Opinion_LEADTop&mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com% 2Farticle%2 FSB10000872396390444226904577558882802335216.html%3Fmod % 3DWSJ_Opinion_LEADTop