Essays in Positive Economics

by Milton Friedman

Overview

"Stimulating, provocative, often infuriating, but well worth reading."--Peter Newman, Economica

"His critical blast blows like a north wind against the more pretentious erections of modern economics. It is however a healthy and invigorating blast, without malice and with a sincere regard for scientific objectivity."--K.E. Boulding, Political Science Quarterly

"Certainly one of the most engrossing volumes that has appeared recently in economic theory."--William J. Baumol, Review of Economics and Statistics

Product Details

ISBN-13:	9780226264035
Publisher:	University of Chicago Press
Publication date:	08/15/1966
Series:	Phoenix Books
Edition description:	Digital Reprint
Pages:	334
Product dimensions:	5.25(w) x 8.00(h) x 1.00(d)

About the Author

Milton Friedman (1912-2006) was the Paul Snowden Russell Distinguished Service Professor Emeritus in Economics at the University of Chicago. He received the 1976 Nobel Prize in Economics and is best known for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy. He was a principal founder of what has come to be known as the Chicago School of Economics and was one of the world's leading proponents of the importance of the free market. Friedman authored many books during his lifetime including the seminal work Capitalism and Freedom, which was published by Chicago in 1962. He and his wife Rose Friedman co-authored the memoir Two Lucky People, also published by Chicago.

Table of Contents

Part I. Introduction
The Methodology of Positive Economics
Part II. Price Theory
The Marshallian Demand Curve
The "Welfare" Effects of an Income Tax and an Excise Tax
Part III. Monetary Theory and Policy
The Effects of a Full-Employment Policy on Economic Stability: A Formal Analysis
A Monetary and Fiscal Framework for Economic Stability
The Case for Flexible Exchange Rates
Commodity-Reserve Currency
Discussion of the Inflationary Gap
Comments on Monetary Policy
Part IV. Comments on Method
Lange on Price Flexibility and Employment: A Methodological Criticism
Lerner on the Economic of Control
Index