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He was widely regarded as among the most authoritative living planning writers on sustainable international development and planning theory. [citation needed] Friedmann died at the age of 91 in Vancouver on June 11, 2017. [3] He is survived by his daughter Manuela Friedmann and his first wife, Traudl.
The Friedman doctrine is controversial, [1] with critics variously saying it is wrong on financial, economic, legal, social, or moral grounds. [14] [15] It has been criticized by proponents of the stakeholder theory, who believe the Friedman doctrine is inconsistent with the idea of corporate social responsibility to a variety of stakeholders. [16]
Monetarism is an economic theory commonly associated with neoliberalism. [96] Formulated by Milton Friedman, it focuses on the macroeconomic aspects of the supply of money, paying particular attention to the effects of central banking. [291]
Milton Friedman made a restatement of the theory in 1956 and made it into a cornerstone of monetarist thinking. The theory is often stated in terms of the equation M V = P Y, where M is the money supply, V is the velocity of money, and P Y is the nominal value of output or nominal GDP (P itself being a price index and Y the amount of
The American economist Milton Friedman developed the permanent income hypothesis in his 1957 book A Theory of the Consumption Function. [7] In his book, Friedman posits a theory that explained how and why future expectations change consumption. [8] Friedman's 1957 book A Theory of the Consumption Function created the basis for consumption ...
Friedman's book Price Theory: A Provisional Text, originally based on lecture notes taken by David I. Fand and Warren J. Gustus in 1951–52. These notes were popular among graduate students and eventually prompted Friedman to work on their publication. The revised edition was prepared when Friedman resumed teaching price theory in the early 1970s.
The natural rate of unemployment is the name that was given to a key concept in the study of economic activity. Milton Friedman and Edmund Phelps, tackling this 'human' problem in the 1960s, both received the Nobel Memorial Prize in Economic Sciences for their work, and the development of the concept is cited as a main motivation behind the prize.
The Lexus and the Olive Tree: Understanding Globalization is a 1999 book by Thomas L. Friedman that posits that the world is currently undergoing two struggles: the drive for prosperity and development, symbolized by the Lexus LS, and the desire to retain identity and traditions, symbolized by the olive tree.