Milton Friedman

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 While Friedman’s revolutionary idea of monetarism has been superseded in some ways, his contributions have played a key role in the evolution of monetary policy and remain critical to contemporary macroeconomic research and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.

The 2024 Marshall Forum held a panel on Chicago Economics, debating its focus on big questions, data-driven research, and the role of markets. Panelists discussed a move away from pure market efficiency and a growing focus on inequality within the field.

In a new paper, Sebastian Edwards details the numerous and varied contributions of University of Chicago faculty to exchange rates and monetary policy from 1892 to 1992.

The following is an excerpt from Jennifer Burns' new book "Milton Friedman, The Last Conservative," out November 14.

In a new book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism, Sebastian Edwards details the history of neoliberalism in Chile over the past seventy years. The Chicago Boys—a group of Chilean economists trained at the University of Chicago through the U.S. State Department’s “Chile Project”—played a central role in neoliberalism’s ascent during General Augusto Pinochet’s rule. What follows is an excerpt from the book on University of Chicago economist Milton Friedman’s 1975 visit to Chile to meet with Pinochet and business leaders.

In an excerpt from his book Samuelson Friedman: The Battle Over the Free Market, Nicholas Wapshott explores the disagreements between Friedman and Hayek over...

We are all victims of what George Stigler described as “the pervasive use of state support of special groups” and of governance failures everywhere....

In conversation with Sebastian Edwards, Arnold C. Harberger reflects on his time at the Department of Economics at the University of Chicago. Editor’s note: The...

Friedman’s New York Times Magazine article on the social purpose of business was a specific intervention in the debate over shareholder activism and mentions...

As 2020 draws to a close, we look back at ProMarket’s most-read and most-widely shared stories of the past year. It should come as...