Forder Milton Friedman

1. Auflage 2019
ISBN: 978-1-137-38784-4
Verlag: Palgrave Macmillan UK
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 489 Seiten

Reihe: Great Thinkers in Economics

This book examines the work of Milton Friedman, which is amongst the most significant in modern economics and, equally, amongst the most contentious. Although Friedman became most famous for his views on money and monetary policy as well as his public writings, a large and important part of his work concerned other aspects of economics.All parts of Friedman's work are considered here, as is his account of his own life. By focussing on what Friedman wrote rather than what later authors have written about him, this volume seeks to analyse the character, qualities and development of the arguments he made. This text is important for anyone interested in this both celebrated and reviled figure in economics. James Forder clarifies messages in Friedman's writing that have otherwise so often been obscured by academic and public controversy.

James Forder is Andrew Graham Fellow and Tutor in Political Economy, Balliol College, University of Oxford, UK.

Autoren/Hrsg.

Forder, James

Inhaltsverzeichnis

1;Also in the Great Thinkers in Economics series;6
2;Acknowledgements;9
3;Contents;10
4;1 Introduction;15
5;Part I Friedman’s Life and Autobiography;24
6;2 Part I Introduction;25
7;3 Two Lucky People;27
7.1;1Two Lucky People;28
7.2;2A Sample of Missing and Forgotten Matters;35
7.3;3An Unintellectual Work;38
7.4;4On Not Judging Motives;41
7.5;5Friedman’s Economics;45
7.6;6Conclusion;48
8;4 Three Controversies;50
8.1;1The Publication of Friedman and Kuznets;50
8.2;2Friedman in Chile;53
8.3;3Monetary Trends… in the United Kingdom;63
8.4;4Conclusion;71
9;5 Friedman in Britain in the 1970s and 1980s;72
9.1;1Friedman and Thatcher;72
9.2;2Friedman at the Institute of Economic Affairs, and Elsewhere;75
9.3;3Friedman in the British Public Eye;80
9.4;4Conclusion;85
10;6 Part I Conclusion;87
11;Part II Milton Friedman’s Economics, 1935–1957;90
12;7 Part II Introduction;91
13;8 An Early Miscellany?;93
13.1;1Statistics;93
13.2;2The Theory of Demand;95
13.3;3The Marshallian Demand Curve;97
13.4;4Book Reviews;100
13.5;5Choice Under Uncertainty;106
13.6;6Labour Unions;113
13.7;7Macroeconomics and Money;118
13.8;8Flexible Exchange Rates;131
13.9;9Conclusion;139
14;9 Consumption;140
14.1;1Theory of the Consumption Function;140
14.2;2Reactions to A Theory of the Consumption Function;148
14.3;3Aspects of the Theory of Consumption Before A Theory of the Consumption Function;153
14.4;4The Importance of A Theory of the Consumption Function;158
15;10 Methodology;165
15.1;1Friedman’s Argument;166
15.2;2Responses to Friedman;171
15.3;3Assessing Friedman’s Essay;175
15.4;4Three Good Ideas and Their Origins;181
15.5;5Other Methodological Issues;184
15.5.1;5.1Marshallianism and Walrasianism;184
15.5.2;5.2Causation;188
15.5.3;5.3Positive and Normative Economics, and the Explanation of Disagreement;190
15.6;6Friedman’s Essay, and Friedman’s Methodology, 1935–1957;195
15.7;7Conclusion on the Methodology of Positive Economics;201
16;11 Part II Conclusion;202
17;Part III Friedman on Money;204
18;12 Part III Introduction;205
19;13 The Monetary History and Monetary Statistics;207
19.1;1Monetary Statistics;208
19.2;2Monetary History;210
20;14 Quantity Theory Themes;218
20.1;1The ‘Restatement’, and Other Restatements;218
20.2;2The ‘Oral Tradition’ of the Quantity Theory;223
20.3;3The Stability of Velocity;230
20.4;4Causation;237
20.5;5The Quantity Theory Versus the Income-Expenditure Theory;242
20.5.1;5.1Friedman and Becker;243
20.5.2;5.2Friedman and Meiselman (1963);245
20.5.3;5.3Friedman’s Theoretical Framework for Monetary Analysis;249
20.5.4;5.4A Sequel to A Theoretical Framework;253
20.5.5;5.5The Quantity Theory or the Income Expenditure Theory?;254
20.6;6Friedman’s Accounts of Developments in Monetary Thought;255
21;15 Stabilization Policy and the Causes of Inflation;264
21.1;1Rules and Discretion Continued;264
21.2;2The Optimum Quantity of Money;276
21.3;3The Causes of Excess Growth in the Quantity of Money;277
21.3.1;3.1Always and Everywhere a Monetary Phenomenon—Cost-Push Inflation;278
21.3.2;3.2The Interests of the Federal Reserve;281
21.3.3;3.3Development and Inflationary Government Finance;282
21.3.4;3.4Indexation and Disinflation;285
22;16 The Phillips Curve;293
22.1;1The Phillips Curve Myth;293
22.2;2Friedman on the Phillips Curve Before the Presidential Address;294
22.3;3Friedman on the Phillips Curve: From Presidential Address to 1975;296
22.4;41975 and After;303
23;17 Monetary Trends in the United States and the United Kingdom;309
24;18 Part III Conclusion;316
25;Part IV Popular Writing;319
26;19 Part IV Introduction;320
27;20 Capitalism and Freedom;322
27.1;1The Matter of ‘Freedom’;322
27.2;2The Economics of Capitalism and Freedom;341
27.3;3Reactions to Capitalism and Freedom;355
28;21 Newsweek and Journalism;360
29;22 Free to Choose;373
30;23 Other Causes;380
30.1;1Missing Issues?;381
30.2;2Foreign Aid;381
30.3;3The Privatization of Money;382
30.4;4Drugs;384
30.5;5Conscription;385
30.6;6The Popularization of Monetarism;388
30.7;7Conclusion;392
31;24 Part IV Conclusion;393
32;25 Conclusion: The Legacies of Milton Friedman;395
33;References;415
34;Author Index;476
35;Subject Index;485