Most Influential Works of Milton Friedman

There’s a ton of ink spilled on Milton Friedman (FT, NYT, WSJ) . Rather than add to the deluge of homages (you know my views that markets are imperfect), here is a short list of some of his best known and most influential writings:   

Capitalism and Freedom (1962)

Monetary Policy: Theory and Practice 
Journal of Money, Credit and Banking, February 1982

The monetarist controversy
Milton Friedman and Franco Modigliani
Federal Reserve Bank of San Francisco, Spring 1977

Inflation and Unemployment
Nobel Memorial Lecture, Dec 13, 1976

Have Monetary Policies Failed? 
American Economic Review, May 1972

A Monetary Theory of Nominal Income
Journal of Political Economy, April 1971

A Theoretical Framework for Monetary Analysis
Journal of Political Economy, March 1970

The Definition of Money: Net Wealth and Neutrality as Criteria 
Journal of Money, Credit and Banking, February 1969
Milton Friedman and Anna J. Schwartz

The Role of Monetary Policy
American Economic Review, March 1968

His autobio is here, and the wikipedia entery is here.

You now have sufficient reading to keep you busy all weekend . . .


UPDATE November 17, 2006 10:45am

Quote of the day:

"The Father of Monetarism (and proponent of free markets), Milton Friedman, died yesterday. Our friend Jimmy says Bernanke’s recent comments that trivialize money and monetary aggregates were probably too much for Milton to take." 
-Bill King


UPDATE November 17, 2006 3:24pm

The WSj page one piece moves to the free section: How Milton Friedman Changed Economics, Policy and Markets

Category: Economy, Markets

Blog Spotlight: The Mess That Greenspan Made

For the next edition of our series Blogger Spotlight:  Tim Iacono and The Mess That Greenspan Made.
Tim is a software engineer in his mid-forties, living in Southern
California. He calls his blog is a "vain attempt to stave off a
mid-life crisis, and here’s hoping that it’s going to work."

This is part of our ongoing short list of excellent but somewhat overlooked
blogs that deserves a greater audience. Expect to see a post from a
different featured blogger here every Tuesday and Thursday evening,
around 7pm.


This is Tightening?

Much has been made of the "tightening" by central
banks around the world, particularly the multi-year "baby-step" therapy applied
to short-term interest rates here in the U.S.

treatment was just concluded a few months ago under the watchful eye of Fed
Chairman Ben Bernanke – the baby steps weren’t the new Fed Chief’s idea, but he
is saddled with what they have produced.

Having wondered what effect these rising rates have had on the creation of both
consumer debt and new money, the construction of a chart showing all three laid
together is a task that has sat near the top of the To Do list around here for
some time.

It can now be checked off.
Nearly all of this data is available at the Federal Reserve website. The only
part for which one has to look elsewhere is the last six months of M3 Money
Supply – the central bank stopped divulging this data earlier this

The latest M3 data is now available in reconstructed form at Now and Futures and John
Williams’ Shadow
Government Statistics

The trend is still up -

Read More

Category: Blog Spotlight

Mad Advice

Category: Television

PPI Hedonic Adjustments

Category: Data Analysis, Inflation, Markets

Blogger’s Take: FOMC Minutes

Category: Blog Spotlight

Media Appearance: Closing Bell with Maria Bartiromo (11/15)

Category: Markets

U.S. Treasury Yield Curve

Category: Fixed Income/Interest Rates

Bloomberg TV (10:05 AM, 11/15/06)

Category: Markets

It’s Raining Jobs!

Category: Employment

Today’s explosion: $4B emini covering

Category: Markets, Trading