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Soaking may refer to:

• A preparatory operation for tanning in the production of leather
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See also[link]

• Maceration (disambiguation), a near-synonym

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Sheryl Crow
Background information
Birth name	Sheryl Suzanne Crow
Born	(1962-02-11) February 11, 1962 (age 50) Kennett, Missouri, U.S.
Genres	Rock, pop rock, roots rock, country rock
Occupations	Singer-songwriter, musician, record producer, actress, activist
Instruments	Vocals, guitar, bass, keyboards, harmonica, autoharp, wurlitzer, mandolin, mandola
Years active	1986–present
Labels	A&M
Associated acts	Jerry Lee Lewis, Mick Jagger, Fleetwood Mac, Michael Jackson, Sarah McLachlan, Don Henley, Eric Clapton, Keith Richards, Dixie Chicks, Johnny Cash, Stevie Nicks, Kevin Gilbert, Vince Gill, Loretta Lynn, Counting Crows, Bill Bottrell, Kid Rock, Sting, Liz Phair, Citizen Cope, Justin Timberlake, Miranda Lambert
Website	www.sherylcrow.com

Sheryl Suzanne Crow (born February 11, 1962) is an American singer-songwriter, record producer, musician, and actress. Her music incorporates elements of rock, folk, hip hop, country and pop. She has won nine Grammy Awards from the National Academy of Recording Arts and Sciences.

She has performed with The Rolling Stones and has sung duets with Mick Jagger,^[1] Michael Jackson, Eric Clapton, Luciano Pavarotti, John Mellencamp, Kid Rock, Michelle Branch, and Sting among others. She has performed backing vocals for Tina Turner, Michael Jackson, Don Henley and Belinda Carlisle. She also sang as part of the back up vocals for the Bob Dylan 30th Anniversary celebrating Dylan's 30 years as a recording artist. Crow has released seven studio albums, two compilations, and a live album, and has contributed to film soundtracks. She has sold 16 million albums in the United States and 35 million albums worldwide and her newest album, 100 Miles from Memphis, was released on July 20, 2010.^[2] Recently she appeared on NBC's 30 Rock, ABC's GCB and Cougar Town, Disney Channel's Hannah Montana Forever, and Jon Stewart and Stephen Colbert's Rally to Restore Sanity and/or Fear.^[3]

Early life[link]

Sheryl Suzanne Crow was born in Kennett, Missouri, on February 11, 1962. Her father Wendell Crow is a lawyer and trumpet player, and her mother Bernice, a piano teacher.^[4] She has older sisters Kathy and Karen, and a younger brother Steven.

While studying at Kennett High School, Crow was a majorette and an All-State track athlete, winning medals in the 75-meter low hurdles. She also joined the Pep Club, the National Honor Society, National FFA Organization and Paperdoll Queen. She then enrolled at the University of Missouri, in Columbia, and received a Bachelor of Arts degree in Music Composition, Performance, and Education. While in college, Crow sang in a local band, Cashmere. She was a member of the Kappa Alpha Theta social sorority, Sigma Alpha Iota International Music Fraternity for Women, and the Omicron Delta Kappa Society.^[5] Later, Crow was awarded honorary doctorates from the University of Missouri and Southeast Missouri State University, in Cape Girardeau, Missouri.^[6]

Crow has stated that her musical inspirations are not restricted to one genre, as she likes absolutely anything with a drum beat. In 2008, she told Ellen DeGeneres that "If it didn't have a drum beat, you can just forget about it!"^[7][8]

Early career[link]

	The First Cut Is the Deepest noicon If It Makes You Happy noicon Strong Enough noicon
Problems listening to these files? See media help.

After graduating from college, Crow worked as a music teacher at the Kellison elementary school, in Fenton, Missouri.^[9] Teaching during the day allowed her the opportunity to sing in bands on weekends. Later, she was introduced to local musician and producer Jay Oliver. He had a thriving studio in the basement of his parents' home, in St. Louis, and helped her by using her in advertising jingles. Her first jingle was a back-to-school spot for the St. Louis department store Famous-Barr. McDonald's and Toyota commercial jingles soon followed. She was quoted in a 60 Minutes segment as saying she made $40,000 on her McDonald's commercial alone.^[10]

Crow toured with Michael Jackson as a backup vocalist during his Bad World Tour from 1987–1989, and often performed with Jackson on "I Just Can't Stop Loving You."^[11] She also recorded background vocals for performances from various established artists including Stevie Wonder, Belinda Carlisle and Don Henley.

Crow also sang in the short-lived Steven Bochco drama, Cop Rock, in 1990. The same year, her song "Heal Somebody" appeared in the film Bright Angel. The following year, she performed "Hundreds of Tears," which was included in the Point Break soundtrack, and sang a duet with Kenny Loggins on the track "I Would Do Anything", from his album Leap of Faith.

1990s[link]

Scrapped debut album (1992)[link]

In 1992, Crow recorded her first attempt at her debut album with Phil Collins' producer Hugh Padgham. The self-titled debut album was due to be released on September 22, 1992, but was ultimately rejected by her label.^[12] However, a handful of cassette copies of the album were leaked along with press folders to be used for album publicity. This album has been widely dispersed via file sharing networks and fan trading. In the meantime, Crow's songs were recorded by major artists such as Celine Dion, Tina Turner and Wynonna Judd.

[edit] International success (1993–1997)

She then began dating Kevin Gilbert and joined him in an ad hoc group of musicians known to everyone in the group as the "Tuesday Music Club."^[13] Group members, Gilbert, David Baerwald and David Ricketts (both formerly of David & David), Bill Bottrell, Brian MacLeod, and Dan Schwartz^[14] share songwriting credits with Crow on her debut album, Tuesday Night Music Club.^[11]

The group existed as a casual songwriting collective prior to its association with Crow, but rapidly developed into a vehicle for her debut album after her arrival. Her relationship with Gilbert became acrimonious soon after the album was released, and disputes arose about songwriting credits.^[11]

Crow at The Grove of Los Angeles, California in 2002, with co-guitarist Peter Stroud

Crow appeared in the "New Faces" section of Rolling Stone in 1993. Tuesday Night Music Club featured many of the songs written by Crow's friends, including the second single, "Leaving Las Vegas." The album was slow to garner attention, until "All I Wanna Do" became an unexpected smash hit in the spring of 1994. As she later stated in People, she found an old poetry book in a used book store in the L.A. area and used a poem as lyrics in the song.^[15] The singles "Strong Enough" and "Can't Cry Anymore" were also released, with the first song ("Strong Enough") charting at #5 on Billboard and "Can't Cry Anymore" hitting the Top 40.^[16] Tuesday Night Music Club went on to sell more than 7 million copies in the US and UK during the 1990s. The album also won Crow three Grammy Awards, in 1995: Record of the Year, Best New Artist and Best Female Vocal Performance.^[11] She performed at the 1994 and 1999 Woodstock Festivals, as well as the Another Roadside Attraction in 1997.^[17]

Crow supplied background vocals to the song "The Garden of Allah" from Don Henley's 1995 album Actual Miles: Henley's Greatest Hits.

In 1996, Crow released her self titled second album.^[18] The album had songs about abortion, homelessness and nuclear war. The debut single, "If It Makes You Happy," became a radio success and netted her two Grammy awards for Best Female Rock Vocal Performance and Best Rock Album.^[19] Other singles included "A Change Would Do You Good," "Home" and "Everyday Is A Winding Road." Crow produced the album herself. The album was banned from sale at Wal-Mart, as in the "Love Is A Good Thing" lyric Wal-Mart is implicated (by name) of supplying guns to which children later gain access.^[20] In 1997, Crow contributed the theme song to the James Bond film Tomorrow Never Dies. Her song "Tomorrow Never Dies" was nominated for a Grammy Award and Best Original Song Golden Globe.^[21][22] Crow collaborated on Scott Weiland's 1998 album, 12 Bar Blues.^[23]

[edit] The Globe Sessions and Live (1998–1999)

In 1998 Crow released The Globe Sessions. During this period, she discussed in interviews having gone through a deep depression, and there was speculation about a brief affair with Eric Clapton. The debut single from this album, "My Favorite Mistake," was rumored to be about him, although Crow claims otherwise about a philandering ex-boyfriend.^[24][25] Crow has refused to say who the song was about telling Billboard Magazine on the release of her album. "Oh, there will be just so much speculation, and because of that there's great safety and protection in the fact that people will be guessing so many different people and I'm the only person who will ever really know. I'm really private about who I've had relationships with, and I don't talk about them in the press. I don't even really talk about them with the people around me."^[26] Despite the difficulties in recording the album, Crow told the BBC in 2005 that: "My favorite single is 'My Favorite Mistake,' it was a lot of fun to record and it's still a lot of fun to play."^[27] The album won Best Rock Album at the 1999 Grammy Awards. It was re-released in 1999, with a bonus track, Crow's cover of the Guns N' Roses song "Sweet Child o' Mine," which was included on the soundtrack of the film Big Daddy. The song won the 1999 Grammy for Best Female Rock Vocal Performance.^[28] Other singles included "There Goes the Neighborhood," "Anything But Down," and "The Difficult Kind." Crow won Grammy best female rock vocal performance for "There Goes the Neighborhood" in 2001.^[29] The Globe Sessions peaked at #5 on the Billboard 200 chart, achieving US sales of 2 million as of January 2008.^[30]

Later in 1998, Crow took part in a live concert in tribute to Burt Bacharach, in which she contributed vocals on One Less Bell to Answer.^[31]

In 1999, Crow also made her acting debut as an ill-fated drifter in the suspense/drama The Minus Man, which starred her then-boyfriend Owen Wilson as a serial killer.

She also released a live album called Sheryl Crow and Friends: Live From Central Park. The record featured Crow singing many of her hit singles with new musical spins and guest appearances by many other musicians including Sarah McLachlan, Stevie Nicks, the Dixie Chicks, Keith Richards, and Eric Clapton. "There Goes the Neighborhood" was included in the album, eventually winning the Grammy for Best Female Rock Vocal Performance.

2000s[link]

[edit] C'mon, C'mon and The Very Best of (2002–2004)

Crow at the Houston Livestock Show and Rodeo

Crow had been involved with the Scleroderma Research Foundation (SRF) since the late 1990s, performing at fund-raisers and befriending Sharon Monsky. In 2002, as a result of her friend Kent Sexton dying from scleroderma, she interrupted work on her new album C'mon C'mon to record the traditional hymn "Be Still, My Soul," to be played at his funeral. In November of that year it was released as a single, with the proceeds going to SRF.^[32]

Crow's fourth studio album, C'mon, C'mon was released in 2002, spawning the hit single "Soak Up the Sun." Second single "Steve McQueen" won the Female Rock Vocal Performance Grammy.^[33]

Crow opposed the 2003 invasion of Iraq, wearing a shirt that read "I don't believe in your war, Mr. Bush!" during a performance on Good Morning America and posting an open letter explaining her opposition on her website.^[34] Crow, performing with Kid Rock at the 45th annual Grammy Awards, wore a large peace sign and a guitar strap with the words "No War."^[35]

Crow recorded the song "Kiss That Girl" for the film Bridget Jones's Diary. She also recorded a cover version of the Beatles' song "Mother Nature's Son" for the film I Am Sam. Crow duetted with rapper Kid Rock on the crossover hit single "Picture." She also assisted Rock on the track "Run Off to L.A."

Crow collaborated with Michelle Branch on the song "Love Me Like That" for Branch's second album, Hotel Paper, released in 2003.^[36] Crow was featured on the Johnny Cash album American III: Solitary Man in the song "Field of Diamonds" as a background vocalist, and also played the accordion for the songs "Wayfaring Stranger" and "Mary of the Wild Moor."^[37]

In 2003, Crow released a greatest hits compilation called The Very Best of Sheryl Crow. It featured many of her hit singles, as well as some new tracks. Among them was the ballad "The First Cut is the Deepest" (originally a Cat Stevens song), which became her biggest radio hit since "All I Wanna Do." She also released the single "Light In Your Eyes," which received limited airplay. "The First Cut is the Deepest" earned her two American Music Awards for Best Pop/Rock Artist and Adult Contemporary Artist of the Year, respectively.

In 2004, Crow appeared as a musical theater performer in the Cole Porter biopic De-Lovely.

Crow at Crossroads 2007

[edit] Wildflower (2005–2007)

Her fifth studio album Wildflower was released in September 2005. Although the album debuted at #2 on the Billboard charts, it received mixed reviews and was not as commercially successful as her previous albums. In December 2005, the album was nominated for a Best Pop Vocal Album Grammy, while Crow was nominated for a Best Female Pop Vocal Performance Grammy for the first single "Good Is Good." However, she ultimately lost in both categories to Kelly Clarkson. The album got a new boost in 2006 when the second single was announced as "Always on Your Side," re-recorded with British musician Sting and sent off to radio, where it was quickly embraced at Adult Top 40. The collaboration with Sting resulted in a Grammy-nomination for Best Pop Collaboration With Vocals. As of January 2008, Wildflower has sold 949,000 units in the U.S.^[30]

In 2006, Crow contributed the opening track, "Real Gone," to the soundtrack for Disney/Pixar's animated film Cars.^[38] Crow was diagnosed with early-stage breast cancer in mid-February 2006, her doctors stating that "prognosis for a full recovery is excellent."^[39]

Crow's first concert after her cancer diagnosis was on May 18 in Orlando, Florida where she played to over 10,000 information technology professionals at the SAP Sapphire Convention. Her first public appearance was on June 12, when she performed at the Murat Theater in Indianapolis, Indiana.

The singer also appeared on Larry King Live on CNN on August 23, 2006. In this show she talked about her comeback, her breakup with Lance Armstrong, her past job as Michael Jackson's backup singer, and her experience as a breast cancer survivor.

In late 2006, Crow was nominated for a Golden Globe Award for the song "Try Not To Remember" (Best Original Song category) from the film Home of the Brave.

Crow wrote a foreword for the book Crazy Sexy Cancer Tips, author Kris Carr's book that was based on her 2007 documentary film Crazy Sexy Cancer. Crow contributed her cover of the Beatles's "Here Comes the Sun" on the Bee Movie soundtrack in November 2007.^[40] She contributed background vocals to the Ryan Adams song "Two" from the album Easy Tiger.

[edit] Detours (2008–2009)

Crow at Memphis, TN (August 18, 2007)

Crow returned with her sixth studio album Detours, which was released on February 5, 2008. Detours debuted at number two on the U.S. Billboard 200 chart, selling about 92,000 copies in its first week and an additional 52,000 copies in its second week.^[41]

Detours was recorded at Crow's Nashville farm. Her son, Wyatt, makes an appearance on the song "Lullaby for Wyatt," which is featured in the movie Grace Is Gone. "The songs are very inspired by the last three years of events in my life," Crow said of a time that found her battling breast cancer and splitting with partner Lance Armstrong.

"Shine Over Babylon" was the first promotional single from the album (download only). The first 'official' single to be released from the album was "Love Is Free," followed by "Out of Our Heads."

Crow performs during the final day of the 2008 Democratic National Convention in Denver, Colorado.

A liberal political activist, she endorsed Barack Obama for the United States Presidential Election and later performed on the 4th and last day of the 2008 Democratic National Convention.

Crow has also recorded a studio version of "So Glad We Made It" for the "Team USA Olympic Soundtrack" in conjunction with the 2008 U.S. Olympic team sponsors AT&T. Crow also stated that $1 of each ticket purchased for her 2008 tour would be donated to the United Nations World Food Programme.

A&M Records re-released Sheryl's debut album, "Tuesday Night Music Club" as a deluxe version 2CD/DVD set on November 17, 2009. The bonus CD contains unreleased songs and B-sides, and a new mix of "I Shall Believe." The DVD features music videos for each of the album's singles.

2010s[link]

[edit] 100 Miles from Memphis (2010–present)

Crow with Stevie Wonder at the October 16, 2011 Martin Luther King, Jr. Memorial dedication concert

In 2010, Crow contributed the original spoken-word track "My Name is Mwamaroyi" to the Enough Project and Downtown Records' Raise Hope for Congo compilation. Proceeds from the compilation fund efforts to make the protection and empowerment of Congo’s women a priority, as well as inspire individuals around the world to raise their voice for peace in Congo.

A&M Records released Crow's seventh studio album, 100 Miles from Memphis, on July 20, 2010. The album has a classic soul vibe and features lead single "Summer Day."^[42] 100 Miles from Memphis (released July 20 on A&M Records), the distance from her hometown to the music mecca, is an ode to her formative memories of music - and one that the label hopes can inspire young music fans to investigate the landscape beyond processed pop and Auto-Tune.^[43]

Later that year, she joined Loretta Lynn and country singer Miranda Lambert on an update of Lynn's song "Coal Miner's Daughter" for the 2010 album Coal Miner's Daughter: A Tribute to Loretta Lynn. The song was later performed on the 44th Annual Country Music Awards in November.^[44]

Crow's eighth studio album is in the works and is said to have more country flavor. Crow explained the album will be out early 2012.

On September 20, 2011 it was announced that Crow will write the music and lyrics for DINER, a new musical inspired by the critically acclaimed 1982 film. The show will come to Broadway in the fall of 2012, and will be directed and choreographed by Tony Award winner Kathleen Marshall.^[45]

Personal life[link]

This section may require cleanup to meet Wikipedia's quality standards. No cleanup reason has been specified. Please help improve this section if you can; the talk page may contain suggestions. (August 2009)

Crow at the Revlon Run Walk 2007

The 2002 release of the album C'mon C'mon by Sheryl Crow features the song "Safe and Sound" which is dedicated to Owen Wilson (boyfriend at that time) in the liner notes and said to be an autobiographical account of their relationship.

Crow began dating cyclist Lance Armstrong in 2003. The couple announced their engagement in September 2005 and their split in February 2006.^{[citation needed]} Immediately following her split from Lance Armstrong, Crow was treated for breast cancer at a Los Angeles-based facility by breast cancer surgeon Kristi Funk. Crow had "minimally invasive" surgery in late February 2006, followed by radiation therapy.^[46][47]

On May 11, 2007, Crow announced on her official website that she had adopted a two-week-old boy named Wyatt Steven Crow. The child was born on April 29, 2007.^[48] She and Wyatt live on a 154-acre (0.62 km²) farm outside Nashville, Tennessee.^[49]

On June 4, 2010, Crow announced that she adopted another boy named Levi James Crow, born on April 30, 2010.^[50]

In May 2011, it was reported that Crow and longtime acquaintance Doyle Bramhall II (musician, Sheryl Crow touring band member, and "100 Miles From Memphis" producer) began dating.^[51]

Crow performed at the opening night of the Cheyenne Frontier Days Rodeo,^[52] despite animal welfare experts urging her not to on account of alleged animal cruelty at the event. Almost 13,000 people signed a petition calling on Crow not to perform.^[53]

She is the great-granddaughter of former congressman Charles A. Crow (1873–1938), who was of Irish descent.^[54]

Discography[link]

• Tuesday Night Music Club (1993)
• Sheryl Crow (1996)
• The Globe Sessions (1998)
• C'mon C'mon (2002)
• Wildflower (2005)
• Detours (2008)
• 100 Miles from Memphis (2010)

Filmography[link]

• Live from London (1996)
• The Minus Man (1998)
• Rockin' the Globe Live (1999)
• C'mon America 2003 (2003)
• One Tree Hill (2003) Episode "The first cut is the deepest"
• The Very Best of Sheryl Crow: The Videos (2003)
• Wildlower Tour: Live from New York (2006)
• Sheryl Crow – Live (2008)
• 30 Rock 3x22 – Kidney Now! (2009)
• Cougar Town 1x18; 1x19; 1x20 (2010)
• Hannah Montana 4x5 (2010)
• Miles From Memphis – Live at The Pantages Theatre (2011)
• GCB S1E5 - "Forbidden Fruit" (2012)

Books[link]

• If It Makes You Healthy with Chuck White (2011)

See also[link]

• List of artists who reached number one on the U.S. Dance chart

References[link]

External links[link]

This article's use of external links may not follow Wikipedia's policies or guidelines. Please improve this article by removing excessive or inappropriate external links, and converting useful links where appropriate into footnote references. (June 2011)

Wikimedia Commons has media related to: Sheryl Crow

• Official website
• Sheryl Crow at the Open Directory Project
• Sheryl Crow at the Internet Movie Database
• Sheryl Crow's interview on National Public Radio's Fresh Air
• Sheryl Crow interview on Bmore Tunes
• Sheryl Crow Interview – Billboard En Español
• Sheryl Crow Launches Her Own Denim Brand
• Sheryl Crow at VH1.com
• Sheryl Crow mentioned in Mark Hurd sex scandal letter

Milton Friedman

Chicago School of Economics
Born	(1912-07-31)July 31, 1912 Brooklyn, New York
Died	November 16, 2006(2006-11-16) (aged 94) San Francisco, California
Nationality	American
Institution	Hoover Institution (1977–2006) University of Chicago (1946–77) Columbia University (1937–41, 1943–45, 1964–65) NBER (1937–40)
Field	Economics
Alma mater	Columbia University (Ph.D.), 1946, University of Chicago (M.A.), 1933 Rutgers University (B.A.), (1932)
Opposed	John Maynard Keynes, John Kenneth Galbraith, Murray Rothbard
Influences	Adam Smith, Irving Fisher, Frank Knight, Murray Rothbard, Jacob Viner, Harold Hotelling, Arthur Burns, Friedrich Hayek, Homer Jones, Ludwig von Mises, Henry Simons, George Stigler
Influenced	Margaret Thatcher, Alan Greenspan, David D. Friedman, Anna J. Schwartz, Ben Bernanke, Gary Becker, Thomas Sowell, Harry Markowitz, Chicago Boys, William F. Buckley, Jr., Cato Institute
Contributions	Price theory, Monetarism, applied macroeconomics, floating exchange rates, volunteer military, Permanent income hypothesis, Friedman test
Awards	John Bates Clark Medal (1951) Nobel Memorial Prize in Economics (1976) Presidential Medal of Freedom (1988) National Medal of Science (1988)
Signature

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and author who taught at the University of Chicago for more than three decades. He was a recipient of the Nobel Memorial Prize in Economic Sciences, and is known for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.^[1] As a leader of the Chicago school of economics, he influenced the research agenda of the economics profession. A survey of economists ranked Friedman as the second most popular economist of the twentieth century behind John Maynard Keynes,^[2] and The Economist described him as "the most influential economist of the second half of the 20th century…possibly of all of it."^[3]

Friedman's challenges to what he later called "naive Keynesian" (as opposed to New Keynesian) theory^[4] began with his 1950s reinterpretation of the consumption function, and he became the main advocate opposing activist Keynesian government policies.^[5] In the late 1960s he described his own approach (along with all of mainstream economics) as using "Keynesian language and apparatus" yet rejecting its "initial" conclusions.^[6] During the 1960s he promoted an alternative macroeconomic policy known as "monetarism". He theorized there existed a "natural" rate of unemployment, and argued that governments could increase employment above this rate (e.g., by increasing aggregate demand) only at the risk of causing inflation to accelerate.^[7] He argued that the Phillips curve was not stable and predicted what would come to be known as stagflation.^[8] Friedman argued that, given the existence of the Federal Reserve, a constant small expansion of the money supply was the only wise policy.^[9]

Friedman was an economic adviser to conservative President Ronald Reagan. His political philosophy extolled the virtues of a free market economic system with minimal intervention. He once stated that his role in eliminating U.S. conscription was his proudest accomplishment, and his support for school choice led him to found The Friedman Foundation for Educational Choice. In his 1962 book Capitalism and Freedom, Friedman advocated policies such as a volunteer military, freely floating exchange rates, abolition of medical licenses, a negative income tax, and education vouchers.^[10] His ideas concerning monetary policy, taxation, privatization and deregulation influenced government policies, especially during the 1980s. His monetary theory influenced the Federal Reserve's response to the global financial crisis.^[11]

Milton Friedman's works include many monographs, books, scholarly articles, papers, magazine columns, television programs, videos, and lectures, and cover a broad range of topics of microeconomics, macroeconomics, economic history, and public policy issues. His books and essays were widely read, and have had an international influence, including in Communist countries.^{[12][13][14][15]}

Early life[link]

Friedman was born in Brooklyn, New York, to recent Jewish immigrants Jenő Friedman and Sára Landau from Beregszász in Austria-Hungary (now Berehove in Ukraine), both of whom worked as dry goods merchants. Shortly after Milton's birth, the family relocated to Rahway, New Jersey. A talented student, Friedman graduated from Rahway High School in 1928, just before his 16th birthday.^[16][17]

Friedman graduated from Rutgers University in New Jersey, where he specialized in mathematics and initially intended to become an actuary. During his time at Rutgers, Friedman became influenced by two economics professors, Arthur F. Burns and Homer Jones, who convinced him that modern economics could help end the Great Depression. After graduating from Rutgers in 1932, Friedman was offered two scholarships to do graduate work; one being Mathematics at Brown University and the other being Economics at the University of Chicago.^[18]Friedman chose the latter, thus earning an M.A. in 1933. He was strongly influenced by Jacob Viner, Frank Knight, and Henry Simons. It was at Chicago that Friedman met his future wife, economist Rose Director. During 1933–34 he had a fellowship at Columbia University, where he studied statistics with renowned statistician and economist Harold Hotelling. He was back in Chicago for 1934–35, spending the year working as a research assistant for Henry Schultz, who was then working on Theory and Measurement of Demand. That year, Friedman formed what would prove to be lifelong friendships with George Stigler and W. Allen Wallis.^[19]

Public service[link]

Friedman was initially unable to find academic employment, so during 1935, he followed his friend W. Allen Wallis to Washington, where Franklin D. Roosevelt's New Deal was "a lifesaver" for many young economists.^[20] At this stage, Friedman said that he and his wife "regarded the job-creation programs such as the WPA, CCC, and PWA appropriate responses to the critical situation," but not "the price- and wage-fixing measures of the National Recovery Administration and the Agricultural Adjustment Administration."^[21] Foreshadowing his later ideas, he believed price controls interfered with an essential signaling mechanism to help resources be used where they were most valued. Indeed, Friedman later concluded that all government intervention associated with the New Deal was "the wrong cure for the wrong disease," arguing that the money supply should simply have been expanded, instead of contracted.^[22] In the publication Monetary History of the United States by Friedman and Anna Schwartz, they argue that the Great Depression was caused by monetary contraction, which was the consequence of poor policymaking by the Federal reserve and the continuous crises of the banking system.^[23]

During 1935, he began work for the National Resources Committee, which was then working on a large consumer budget survey. Ideas from this project later became a part of his Theory of the Consumption Function. Friedman began employment with the National Bureau of Economic Research during autumn 1937 to assist Simon Kuznets in his work on professional income. This work resulted in their jointly authored publication Incomes from Independent Professional Practice, which introduced the concepts of permanent and transitory income, a major component of the Permanent Income Hypothesis that Friedman worked out in greater detail in the 1950s. The book hypothesizes that professional licensing artificially restricts the supply of services and raises prices.

During 1940, Friedman was appointed an assistant professor teaching Economics at the University of Wisconsin–Madison, but encountered antisemitism in the Economics department and decided to return to government service.^[24][25] Friedman spent 1941–43 working on wartime tax policy for the Federal Government, as an advisor to senior officials of the United States Department of the Treasury. As a Treasury spokesman during 1942 he advocated a Keynesian policy of taxation. He helped to invent the payroll withholding tax system, since the federal government badly needed money in order to fight the war.^[26] He later said, "I have no apologies for it, but I really wish we hadn't found it necessary and I wish there were some way of abolishing withholding now."^[27]

Academic career[link]

Early years[link]

In 1943, Friedman joined the Division of War Research at Columbia University (headed by W. Allen Wallis and Harold Hotelling), where he spent the rest of World War II working as a mathematical statistician, focusing on problems of weapons design.^[28]

During 1945, Friedman submitted Incomes from Independent Professional Practice (co-authored with Kuznets and completed during 1940) to Columbia as his doctoral dissertation. The university awarded him a Ph.D. during 1946. Friedman spent the 1945–46 academic year teaching at the University of Minnesota (where his friend George Stigler was employed). On February 12, 1945, his son, David D. Friedman was born.

University of Chicago[link]

University of Chicago

During 1946, Friedman accepted an offer to teach economic theory at the University of Chicago (a position opened by departure of his former professor Jacob Viner to Princeton University). Friedman would work for the University of Chicago for the next 30 years. There he helped build an intellectual community that produced a number of Nobel Prize winners, known collectively as the Chicago School of Economics.

At that time, Arthur Burns, who was then the head of the National Bureau of Economic Research, asked Friedman to rejoin the Bureau's staff. He accepted the invitation, and assumed responsibility for the Bureau's inquiry into the role of money in the business cycle. As a result, he initiated the "Workshop in Money and Banking" (the "Chicago Workshop"), which promoted a revival of monetary studies. During the latter half of the 1940s, Friedman began a collaboration with Anna Schwartz, an economic historian at the Bureau, that would ultimately result in the 1963 publication of a book co-authored by Friedman and Schwartz, A Monetary History of the United States, 1867–1960.

Friedman spent the 1954–55 academic year as a Fulbright Visiting Fellow at Gonville and Caius College, Cambridge. At the time, the Cambridge economics faculty was divided into a Keynesian majority (including Joan Robinson and Richard Kahn) and an anti-Keynesian minority (headed by Dennis Robertson). Friedman speculates that he was invited to the fellowship because his views were unacceptable to both of the Cambridge factions. Later his weekly columns for Newsweek magazine (1966–84) were well read and increasingly influential among political and business people.^[29] From 1968 to 1978, he and Paul Samuelson participated in the Economics Cassette Series, a biweekly subscription series where the economist would discuss the days' issues for about a half hour at a time.^[30]

Friedman was an economic adviser to Republican presidential candidate Barry Goldwater during 1964.

Nobel memorial prize and retirement[link]

In 1976 Friedman won the Nobel Memorial Prize in Economics "for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy."^[1] During the banquet speech he made a reference to “the Prize in Economic Sciences in Memory of Alfred Nobel”. In that he was the first recipient to do so, and it wasn’t until 2006 that a recipient of the prize called it by its proper name.^[31] During 1977, at age 65, Friedman retired from the University of Chicago after teaching there for 30 years. He and his wife moved to San Francisco where he became a visiting scholar at the Federal Reserve Bank of San Francisco. From 1977 on, he was affiliated with the Hoover Institution at Stanford University. During the same year, Friedman was approached by the Free To Choose Network and asked to create a television program presenting his economic and social philosophy. The Friedmans worked on this project for the next three years, and during 1980, the ten-part series, titled Free to Choose, was broadcast by the Public Broadcasting Service (PBS). The companion book to the series (co-authored by Milton and his wife, Rose Friedman), also titled Free To Choose, was the bestselling nonfiction book of 1980 and has since been translated into 14 foreign languages.

Friedman served as an unofficial adviser to Ronald Reagan during his 1980 presidential campaign, and then served on the President's Economic Policy Advisory Board for the rest of the Reagan Administration. During 1988, he received the National Medal of Science and Reagan honored him with the Presidential Medal of Freedom. Milton Friedman is known now as one of the most influential economists of the 20th century.^[32][33] Throughout the 1980s and 1990s, Friedman continued to write editorials and appear on television. He made several visits to Eastern Europe and to China, where he also advised governments. He was also for many years a Trustee of the Philadelphia Society.^[34][35][36]

Scholarly contributions[link]

Economics[link]

Friedman was best known for reviving interest in the money supply as a determinant of the nominal value of output, that is, the quantity theory of money. Monetarism is the set of views associated with modern quantity theory. Its origins can be traced back to the 16th-century School of Salamanca or even further; however, Friedman's contribution is largely responsible for its modern popularization. He co-authored, with Anna Schwartz, A Monetary History of the United States (1963), which was an examination of the role of the money supply and economic activity in U.S. history. A striking conclusion of their research was one regarding the role of money supply fluctuations as contributing to economic fluctuations. Several regression studies with David Meiselman during the 1960s suggested the primacy of the money supply over investment and government spending in determining consumption and output. These challenged a prevailing but largely untested view on their relative importance. Friedman's empirical research and some theory supported the conclusion that the short-run effect of a change of the money supply was primarily on output but that the longer-run effect was primarily on the price level.

Friedman was the main proponent of the monetarist school of economics. He maintained that there is a close and stable association between price inflation and the money supply, mainly that price inflation should be regulated with monetary deflation and price deflation with monetary inflation. He famously quipped that price deflation can be fought by "dropping money out of a helicopter."^[37]

Friedman's arguments were designed to counter popular claims that price inflation at the time was the result of increases in the price of oil, or increases in wages: as he wrote,

Inflation is always and everywhere a monetary phenomenon.

—Milton Friedman, 1963.^[38]

Friedman rejected the use of fiscal policy as a tool of demand management; and he held that the government's role in the guidance of the economy should be restricted severely. Friedman wrote extensively on the Great Depression, which he termed the Great Contraction, arguing that it had been caused by an ordinary financial shock whose duration and seriousness were greatly increased by the subsequent contraction of the money supply caused by the misguided policies of the directors of the Federal Reserve.

The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.

—Milton Friedman, Two Lucky People, 233

Friedman also argued for the cessation of government intervention in currency markets, thereby spawning an enormous literature on the subject, as well as promoting the practice of freely floating exchange rates. His close friend George Stigler explained, "As is customary in science, he did not win a full victory, in part because research was directed along different lines by the theory of rational expectations, a newer approach developed by Robert Lucas, also at the University of Chicago."^[39]

Friedman was also known for his work on the consumption function, the permanent income hypothesis (1957), which Friedman himself referred to as his best scientific work.^[40] This work contended that rational consumers would spend a proportional amount of what they perceived to be their permanent income. Windfall gains would mostly be saved. Tax reductions likewise, as rational consumers would predict that taxes would have to increase later to balance public finances. Other important contributions include his critique of the Phillips curve and the concept of the natural rate of unemployment (1968). This critique associated his name, together with that of Edmund Phelps, with the insight that a government that brings about greater inflation cannot permanently reduce unemployment by doing so. Unemployment may be temporarily lower, if the inflation is a surprise, but in the long run unemployment will be determined by the frictions and imperfections of the labor market.

Friedman's essay "The Methodology of Positive Economics" (1953) provided the epistemological pattern for his own subsequent research and to a degree that of the Chicago School. There he argued that economics as science should be free of value judgments for it to be objective. Moreover, a useful economic theory should be judged not by its descriptive realism but by its simplicity and fruitfulness as an engine of prediction. That is, students should measure the accuracy of its predictions, rather than the "soundness of its assumptions. His argument was part of an ongoing debate among such statisticians as Jerzy Neyman, Leonard Savage, and Ronald Fisher.^[41]

Statistics[link]

One of his most famous contributions to statistics is sequential sampling. "Friedman did statistical work at the Division of War Research at Columbia. He and his colleagues came up with a sampling technique, known as sequential sampling, which became, in the words of The New Palgrave Dictionary of Economics, 'the standard analysis of quality control inspection.' The dictionary adds: 'Like many of Friedman’s contributions, in retrospect it seems remarkably simple and obvious to apply basic economic ideas to quality control; that however is a measure of his genius.'"^[42]

Public policy positions[link]

Federal reserve[link]

Friedman believed that if the money supply was to be centrally controlled (as by the Federal Reserve) that the preferable way to do it would be with a mechanical system that would keep the quantity of money increasing at a steady rate. However, instead of government involvement at all, he was open to a "real," non-government, gold standard where money is produced by the private market: "A real gold standard is thoroughly consistent with [classical] liberal principles and I, for one, am entirely in favor of measures promoting its development." He did however add this caveat, "Let me emphasize that this note is not a plea for a return to a gold standard.... I regard a return to a gold standard as neither desirable nor feasible—with the one exception that it might become feasible if the doomsday predictions of hyperinflation under our present system should prove correct."^[43] He said the reason that it was not feasible was because "there is essentially no government in the world that is willing to surrender control over its domestic monetary policy." However, it could be done if "you could re-establish a world in which government's budget accounted for 10 percent of the national income, in which laissez-faire reigned, in which governments did not interfere with economic activities and in which full employment policies had been relegated to the dustbin..."^[43]

He was critical of the Federal Reserve's influence on the economics profession. In a 1993 letter to University of Texas economics professor and former House Banking Committee investigator Robert Auerbach, Friedman wrote:

I cannot disagree with you that having something like 500 economists is extremely unhealthy. As you say, it is not conducive to independent, objective research. You and I know there has been censorship of the material published. Equally important, the location of the economists in the Federal Reserve has had a significant influence on the kind of research they do, biasing that research toward noncontroversial technical papers on method as opposed to substantive papers on policy and results.^[44]

School choice[link]

In his 1955 article "The Role of Government in Education" Friedman proposed supplementing publicly operated schools with privately run but publicly funded schools through a system of school vouchers.^[45] Reforms similar to those proposed in the article were implemented in, for example, Chile in 1981 and Sweden in 1992.^[46] In 1996 Friedman, together with his wife, founded the The Foundation for Educational Choice to advocate school choice and vouchers.

Conscription[link]

Milton Friedman was a major proponent of a volunteer military, stating that the draft was "inconsistent with a free society."^[47][48] In Capitalism and Freedom, he argued that conscription is inequitable and arbitrary, preventing young men from shaping their lives as they see fit.^[49] During the Nixon administration he headed the committee to research a conversion to paid/volunteer armed force. He would later state that his role in eliminating the conscription in the United States was his proudest accomplishment.^[9] Friedman did, however, believe a nation could compel military training as a reserve in case of war time.^[49]

Libertarianism and the Republican party[link]

He served as a member of President Reagan's Economic Policy Advisory Board during 1981. During 1988, he received the Presidential Medal of Freedom and the National Medal of Science. He said that he was a libertarian philosophically, but a member of the U.S. Republican Party for the sake of "expediency" ("I am a libertarian with a small 'l' and a Republican with a capital 'R.' And I am a Republican with a capital 'R' on grounds of expediency, not on principle.") But, he said, "I think the term classical liberal is also equally applicable. I don't really care very much what I'm called. I'm much more interested in having people thinking about the ideas, rather than the person."^[50]

Public goods and monopoly[link]

Friedman was supportive of the state provision of some public goods that private businesses are not considered as being able to provide. However, he argued that many of the services performed by government could be performed better by the private sector. Above all, if some public goods are provided by the state, he believed that they should not be a legal monopoly where private competition is prohibited; for example, he wrote:

There is no way to justify our present public monopoly of the post office. It may be argued that the carrying of mail is a technical monopoly and that a government monopoly is the least of evils. Along these lines, one could perhaps justify a government post office, but not the present law, which makes it illegal for anybody else to carry the mail. If the delivery of mail is a technical monopoly, no one else will be able to succeed in competition with the government. If it is not, there is no reason why the government should be engaged in it. The only way to find out is to leave other people free to enter.

—Milton Friedman, Friedman, Milton & Rose D. Capitalism and Freedom, University of Chicago Press, 1982, 29

Welfare[link]

Friedman made newspaper headlines by proposing a negative income tax to replace the existing welfare system, and then opposing a bill to implement it because the bill proposed to supplement the existing system rather than replace it.

Drugs[link]

Friedman also supported libertarian policies such as legalization of drugs and prostitution. During 2005, Friedman and more than 500 other economists advocated discussions regarding the economic benefits of the legalization of marijuana.^[51]

Economic freedom[link]

Michael Walker of the Fraser Institute and Friedman hosted a series of conferences from 1986 to 1994. The goal was to create a clear definition of economic freedom and a method for measuring it. Eventually this resulted in the first report on worldwide economic freedom, Economic Freedom in the World. This annual report has since provided data for numerous peer-reviewed studies and has influenced policy in several nations.

Along with sixteen other distinguished economists he opposed the Copyright Term Extension Act and filed an amicus brief in Eldred v. Ashcroft.^[52] He supported the inclusion of the word "no-brainer" in the brief.^[53]

Friedman argued for stronger basic legal (constitutional) protection of economic rights and freedoms in order to further promote industrial-commercial growth and prosperity and buttress democracy and freedom and the rule of law generally in society.^[54]

Honors, recognition, and influence[link]

Friedman allowed the Cato Institute to use his name for its biannual Milton Friedman Prize for Advancing Liberty beginning in 2001. A Friedman Prize was given to the late British economist Peter Bauer during 2002, Peruvian economist Hernando de Soto during 2004, Mart Laar, former Estonian Prime Minister during 2006 and a young Venezuelan student Yon Goicoechea during 2008. His wife Rose, sister of Aaron Director, with whom he initiated the Friedman Foundation for Educational Choice, served on the international selection committee. Friedman was also a recipient of the Nobel Prize in Economics.

Hong Kong[link]

Friedman once said, "If you want to see capitalism in action, go to Hong Kong."^[55] He wrote in 1990 that the Hong Kong economy was perhaps the best example of a free market economy.^[56]

One month before his death, he wrote the article "Hong Kong Wrong – What would Cowperthwaite say?" in the Wall Street Journal, criticizing Donald Tsang, the Chief Executive of Hong Kong, for abandoning "positive noninterventionism."^[57] Tsang later said he was merely changing the slogan to "big market, small government," where small government is defined as less than 20% of GDP. In a debate between Tsang and his rival, Alan Leong, before the 2007 Chief Executive election, Leong introduced the topic and jokingly accused Tsang of angering Friedman to death.

Chile[link]

During 1975, two years after the military coup that ended the government of Salvador Allende, the economy of Chile experienced a severe crisis. Friedman accepted the invitation of a private foundation to visit Chile and speak on principles of economic freedom. He spent seven days in Chile giving a series of lectures. One of the lectures was entitled "The Fragility of Freedom," and according to Friedman, "dealt with precisely the threat to freedom from a centralized military government."^[58] Friedman encapsulated his philosophy in a lecture at Universidad Católica de Chile, saying: "free markets would undermine political centralization and political control."^[59]

Friedman also met with military dictator President Augusto Pinochet during his visit. He never served as an adviser to the Chilean government, but did write a letter to Pinochet outlining what Friedman considered the two key economic problems of Chile. The letter listed a series of monetary and fiscal measures deemed a "shock program" to end hyperinflation and promote a market economy.^[60] His letter suggested (among other, more specific prescriptions) that a brief period of cutting government spending would reduce its fiscal deficit and thus reduce the rate of increase of the quantity of money in the country that was driving inflation. The economist did however admit his knowledge of Chile was "too limited to enable [him] to be precise or comprehensive" and that the measures he outlined were "to be taken as illustrative."^[60] Friedman felt that there might be a brief period ("measured in months") of higher unemployment, followed by recovery once inflation was tamed. His letter also suggested that cutting spending to reduce the fiscal deficit would result in less transitional unemployment than raising taxes to do so. Later, Friedman said he believed that market reforms would undermine Pinochet.^[61] Chilean graduates of the Chicago School of Economics and its new local chapters had been appointed to important positions in the new government soon after the coup, which allowed them to advise Pinochet on economic policies in accord with the School's economic doctrine.

According to his critics, Friedman did not criticize Pinochet's dictatorship at the time, nor the assassinations, illegal imprisonments, torture, or other atrocities that were well known by then.^[62] In his 1980 documentary Free to Choose, he said the following: "Chile is not a politically free system, and I do not condone the system. But the people there are freer than the people in Communist societies because government plays a smaller role. ... The conditions of the people in the past few years has been getting better and not worse. They would be still better to get rid of the junta and to be able to have a free democratic system."^[63][64] In 1984 Friedman stated that he has "never refrained from criticizing the political system in Chile."^[58]

Friedman defended his activity in Chile on the grounds that, in his opinion, the adoption of free market policies not only improved the economic situation of Chile but also contributed to the amelioration of Pinochet's rule and to the eventual transition to a democratic government during 1990. That idea is included in Capitalism and Freedom, in which he declared that economic freedom is not only desirable in itself but is also a necessary condition for political freedom. He stressed that the lectures he gave in Chile were the same lectures he later gave in China and other socialist states.^[65] During the 2000 PBS documentary The Commanding Heights (based on the book), Friedman continued to argue that criticism over his role in Chile missed his main contention that freer markets resulted in freer people, and that Chile's unfree economy had caused the military government. Friedman suggested that the economic liberalization he advocated caused the end of military rule and a free Chile.^[66]

Iceland[link]

Friedman visited Iceland during the autumn of 1984, met with important Icelanders and gave a lecture at the University of Iceland on the "tyranny of the status quo." He participated in a lively television debate on August 31, 1984 with socialist intellectuals, including Ólafur Ragnar Grímsson, who later became the president of Iceland.^[67] When they complained that a fee was charged for attending his lecture at the University and that hitherto, lectures by visiting scholars had been free-of-charge, Friedman replied that previous lectures had not been free-of-charge in a meaningful sense: Lectures always have related costs. What mattered was whether attendees or non-attendees covered those costs. Friedman thought that it was fairer that only those who attended paid. In this discussion Friedman also stated that he did not receive any money for delivering that lecture.

Estonia[link]

Although Friedman never visited Estonia, his book Free to Choose exercised a great influence on that nation's then 32-year-old prime minister, Mart Laar, who has claimed that it was the only book on economics he had read before taking office. Laar's reforms are often credited with responsibility for transforming Estonia from an impoverished Soviet Republic to the "Baltic Tiger." A prime element of Laar's program was introduction of the flat tax. Laar won the 2006 Milton Friedman Prize for Advancing Liberty, awarded by the Cato Institute.^[68]

United Kingdom[link]

Milton Friedman influenced the thinking of Alan Walters and Patrick Minford, two of Margaret Thatcher's main macroeconomic advisers. See the book Margaret Thatcher's Revolution: How it Happened and What it Meant, edited by Subroto Roy & John Clarke, Continuum 2005

Criticism[link]

Keynesian criticism[link]

During the financial crisis of 2007–2010, several Keynesian economists such as James Galbraith and Joseph Stiglitz blamed the free market philosophy of Friedman and the Chicago school for the economic turmoil.^[69]

After Friedman's death in 2006, Keynesian Nobel laureate Paul Krugman, praised Friedman as a "great economist and a great man," but criticized him by writing that "he slipped all too easily into claiming both that markets always work and that only markets work. It's extremely hard to find cases in which Friedman acknowledged the possibility that markets could go wrong, or that government intervention could serve a useful purpose."^[70]

Austrian school criticism[link]

In 1971, libertarian economist Murray Rothbard criticized Friedman's efforts to make the government more efficient as detrimental to individual liberty, concluding "...as we examine Milton Friedman’s credentials to be the leader of free-market economics, we arrive at the chilling conclusion that it is difficult to consider him a free-market economist at all."^[71] Friedman's position on governmental control of money changed since 1971 when this criticism was made.^[72] In a 1995 interview in Reason magazine he said the "difference between me and people like Murray Rothbard is that, though I want to know what my ideal is, I think I also have to be willing to discuss changes that are less than ideal so long as they point me in that direction." He said he actually would "like to abolish the Fed," and points out that when he has written about the Fed it is simply his recommendations of how it should be run given that it exists.^[9]