- published: 31 Jul 2012
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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. 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, and The Economist described him as "the most influential economist of the second half of the 20th century…possibly of all of it."
Friedman's challenges to what he later called "naive Keynesian" (as opposed to New Keynesian) theory began with his 1950s reinterpretation of the consumption function, and he became the main advocate opposing activist Keynesian government policies. 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. 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. He argued that the Phillips curve was not stable and predicted what would come to be known as stagflation. Friedman argued that, given the existence of the Federal Reserve, a constant small expansion of the money supply was the only wise policy.
Michael Francis Moore (born April 23, 1954) is an American filmmaker, author, social critic and activist. He is the director and producer of Fahrenheit 9/11, which is the highest-grossing documentary of all time. His films Bowling for Columbine and Sicko also place in the top ten highest-grossing documentaries. In September 2008, he released his first free movie on the Internet, Slacker Uprising, which documented his personal quest to encourage more Americans to vote in presidential elections. He has also written and starred in the TV shows TV Nation and The Awful Truth.
Moore criticizes globalization, large corporations, assault weapon ownership, U.S. Presidents Bill Clinton and George W. Bush, the Iraq War, the American health care system, and capitalism in his written and cinematic works.
Moore was born in Flint, Michigan, and raised in Davison, a suburb of Flint, by parents Veronica (née Wall), a secretary, and Frank Moore, an automotive assembly-line worker. At that time, the city of Flint was home to many General Motors factories, where his parents and grandfather worked. His uncle LaVerne was one of the founders of the United Automobile Workers labor union and participated in the Flint Sit-Down Strike.
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