Michael D. Bordo

Michael D. Bordo is a distinguished professor of economics emeritus at Rutgers University. He is the Duncan Stewart Distinguished Visiting Fellow at the Hoover Institution. He is also a distinguished visitor at the Griswold Center for Public Policy at Princeton University. He has held previous academic posts at the University of South Carolina and Carleton University in Ottawa, Canada, and was visiting professor at Cambridge, Princeton, Harvard, and other universities. He is a research associate of the National Bureau of Economic Research and a member of the Shadow Open Market Committee. He has a BA from McGill University, an MSc in economics from the London School of Economics, and a PhD from the University of Chicago.

The Evolution of Milton Friedman’s Legacy for Monetary Policy

2026 marks the fiftieth anniversary of University of Chicago professor Milton Friedman’s Nobel Memorial Prize in Economic Sciences. Michael D Bordo reflects on how Milton Friedman’s legacy has developed in this time. While Friedman’s revolutionary idea of monetarism has been superseded in some ways, his contributions have played a key role in the evolution of monetary policy and remain critical to contemporary macroeconomic research and central bank policy.

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