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They asked him to create a television program presenting his economic and social philosophy. [ 79 ] [ 80 ] [ 81 ] Friedman and his wife Rose 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).
Laissez-faire (/ ˌ l ɛ s eɪ ˈ f ɛər / LESS-ay-FAIR, from French: laissez faire [lɛse fɛːʁ] ⓘ, lit. ' let do ' ) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations ).
Some historians of economics believe that he coined the phrase laissez faire, laissez passer. [1] Evidence was to be found when the French State parted the East India Company privilege (monopoly) on the slave trade. He is also credited with coining the term "bureaucracy".
Friedman argues that laissez-faire government policy is more desirable than government intervention in the economy. Governments should aim for a neutral monetary policy oriented toward long-run economic growth, by gradual expansion of the money supply. He advocates the quantity theory of money, that general prices are determined by money ...
The other was the political doctrine of laissez-faire economics, namely that all coercive government regulation of the market represents unjustified interference, and that economies would perform best with government only playing a defensive role in order to ensure the operation of free markets.
Maurice Félix Charles Allais [2] (31 May 1911 – 9 October 2010) was a French physicist and economist, the 1988 winner of the Nobel Memorial Prize in Economic Sciences "for his pioneering contributions to the theory of markets and efficient utilization of resources", along with John Hicks (Value and Capital, 1939) and Paul Samuelson (The Foundations of Economic Analysis, 1947), to ...
He arrived upon his laissez-faire view of economics at a time of great opportunity and growth in the expanding British Empire. Laissez-faire policies stood in direct contrast to his supervisor Hobbes's Social Contract, developed from Hobbes's experiences during the greatest depression in England's history, the General Crisis.
Louis Rodolphe Salis [1] (29 May 1851 – 20 March 1897) was the creator, host and owner of the Le Chat Noir ("The Black Cat") cabaret (known briefly in 1881 at its beginning as "Cabaret Artistique") in the Montmartre district of Paris. With this establishment Salis is remembered as the creator of the modern cabaret: a nightclub where the ...