This is volume 20 in the "Major Conservative and Libertarian Thinkers" series. The American Milton Friedman (1912-2006) was the leader of the Chicago School of monetary economics. An unofficial advisor to Ronald Reagan, he promoted a free market economy with little intervention from the government. His writings on public and economic policy emphasized the preservation and expansion of individual freedom and he was a strong opponent of the Keynesian economics. He is known for reviving interest in the quantity theory of money and was awarded the Nobel Memorial Prize in Economics in 1976. "Major Conservative and Libertarian Thinkers" provides comprehensive accounts of the works of seminal conservative thinkers from a variety of periods, disciplines, and traditions - the first series of its kind. Even the selection of thinkers adds another aspect to conservative thinking, including not only theorists but also writers and practitioners. The series comprises twenty volumes, each including an intellectual biography, historical context, critical exposition of the thinker's work, reception and influence, contemporary relevance, bibliography including references to electronic resources, and an index.

Milton Friedman (1912-2006) was one of the most important 20th century advocates of libertarian and conservative ideas in academia and amongst the wider public. He made a critical contribution to the development of the free market and monetarist economics that challenged the dominant interventionist and Keynesian paradigm throughout the developed world. His books, popular writings, and television programmes, were crucial to the public understanding of the role of the market in the promotion of human freedom and well-being. This outstanding sets out Friedman's intellectual contribution to economic methodology and our understanding of a host of economic phenomena, including the relationship between consumption and income, the workings of flexible exchange rates, and the relationship between inflation and the supply of money in the economy. Dr Ruger also sets out Friedman's contribution to political theory, discussing Friedman's work on the relationship between economic and political freedom, the social responsibilities of business, and the proper relationship between the individual and the state, particularly in the context of conscription, drug prohibition and discrimination.