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Beginning of Paper
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Milton Friedman, like so many great life stories, was the subject of a very tough childhood. He was son to a couple of poor immigrants, born on 31 July 1912, in New York, America. At the age of fifteen, Friedman's father died. Despite this, he won a scholarship to both Rutgers University and the University of Chicago, where ....
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Middle of Paper
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.... to attain a stable economy. Friedman argued however, that this intervention was destabilising, and that what was needed was a steady money flow to create a basic framework for the economy; the rest should be left up to individual competition. This school of thought goes along the lines of 'It is in the best interest of the producer to satisfy the consumers' wishes. By doing this, they are also acting in their own interest, therefore competition is working to the benefit of the whole economy.' In order for this competition to be present, there needs to be freedom of th ....
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