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In Memoriam

Milton Friedman, Alumnus of Rutgers, The State University of New Jersey, died on November 16, 2006. Milton was a member of the Rutgers College Class of 1932.

Milton Friedman was a retired professor of economics at the University of Chicago and one of the world’s leading proponents of the importance of the free market.He was the premier spokesman for the monetarist school of economics and a pioneer in promoting the value of free market economics when the position was not popular.

Friedman won the Nobel Memorial Prize in Economic Sciences in 1976 for “his achievements in the field of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.”

Friedman and his wife, Rose, were the authors of a number of influential books, including Capitalism and Freedom and Free To Choose, which was published as a companion book to a public television series by the same name. Ronald Reagan, Margaret Thatcher and free-market leaders in Eastern Europe were all devoted followers of the Friedman’s views.

Friedman studied economics at the University of Chicago after graduating with a B.A. from Rutgers University in 1932. He met Rose Friedman while both were students at Chicago and he received an M.A. in Economics from the University in 1933. He joined the faculty of the University of Chicago in 1946 after completing a Ph.D. in Economics at Columbia University and serving as an economist with the U.S. Treasury Department and a number of other agencies.

He is survived by his wife and colleague of many years, Rose Director Friedman, a daughter, Janet, and son, David.

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