Milton Friedman Dies
Friedman wrote extensively of his life and experiences, especially in his memoirs with his wife Rose, titled Two Lucky People during 1998.
He died of heart failure at the age of 94 years in San Francisco on November 16, 2006. He was survived by his wife, (who died on August 18, 2009) and their two children, Janet and David, who is a philosopher and anarcho-capitalist economist. David's son, Patri Friedman, is also an economist and the executive director of the Seasteading Institute.
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and a recipient of the Nobel Memorial Prize in Economics. He is best known among scholars for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy. He was an economic advisor to U.S. President Ronald Reagan. Over time, many governments practiced his restatement of a political philosophy that extolled the virtues of a free market economic system with little intervention by government. As a professor of the Chicago School of economics, based at the University of Chicago, he had great influence in determining the research agenda of the entire profession. Friedman's many monographs, books, scholarly articles, papers, magazine columns, television programs, videos and lectures cover a broad range of topics of microeconomics, macroeconomics, economic history, and public policy issues. The Economist magazine praised him as "the most influential economist of the second half of the 20th century…possibly of all of it".