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The Legacy of Milton Friedman as Teacher
Milton Friedman is beyond question the most famous living economist of the 20th century. He is closely associated with the doctrine of ‘monetarism’ which has been adopted by many governments around the world.
More Information
Critical Acclaim
Contributors
Contents
More Information
Milton Friedman is beyond question the most famous living economist of the 20th century. He is closely associated with the doctrine of ‘monetarism’ which has been adopted by many governments around the world.
This important two volume collection presents a major study of Milton Friedman’s outstanding contribution to economics as a teacher at the University of Chicago. It shows how Friedman’s distinctive ideas about money, markets and economic theory, communicated in the classroom and in thesis committees, influenced an entire generation of economists. It also reveals his influence on graduate-education practices at the University of Chicago and elsewhere.
This important two volume collection presents a major study of Milton Friedman’s outstanding contribution to economics as a teacher at the University of Chicago. It shows how Friedman’s distinctive ideas about money, markets and economic theory, communicated in the classroom and in thesis committees, influenced an entire generation of economists. It also reveals his influence on graduate-education practices at the University of Chicago and elsewhere.
Critical Acclaim
‘Hammond’s introduction is learned, balanced and insightful, and, in conjunction with the Dwyer, Fand, Timberlake and Becker contributions, it provides a broad background from which to interpret Friedman’s pedagogical impact.’
– A.W. Bob Coats, Economic Record
– A.W. Bob Coats, Economic Record
Contributors
42 articles, dating from 1952 to 1998
Contributors include: G.S. Becker, P. Cagan, M.R. Darby, G.P. Dwyer Jr., D.I. Fand, J.A. Gray, G. Macesich, D. Meiselman, S. Peltzman, R.H. Timberlake
Contributors include: G.S. Becker, P. Cagan, M.R. Darby, G.P. Dwyer Jr., D.I. Fand, J.A. Gray, G. Macesich, D. Meiselman, S. Peltzman, R.H. Timberlake
Contents
Contents:
Acknowledgements • Introduction
Volume I:
Part I: Students’ Reflections on their Teacher
1. Gerald P. Dwyer, Jr. (1999), ‘How was Milton Friedman Distinctive as a Teacher?’
2. David I. Fand (1999), ‘Friedman’s Price Theory: Economics 300 at the University of Chicago in 1947–1951’
3. Richard H. Timberlake (1999), ‘Observations on a Constant Teacher by a Graduate Student Emeritus’
4. Gary S. Becker (1991), ‘Milton Friedman 1912–’
Part II: The Legacy in Students’ Scholarship
5. G. Warren Nutter (1969), ‘Growth of Monopoly: 1899–1939’
6. E.J. Mishan (1952), ‘Toward a General Theory of Price, Income, and Money’
7. William Hamburger (1955), ‘The Relation of Consumption to Wealth and the Wage Rate’
8. Phillip Cagan (1956), ‘The Monetary Dynamics of Hyperinflation’
9. Eugene M. Lerner (1955), ‘Money, Prices, and Wages in the Confederacy, 1861–65’
10. Richard T. Selden (1956), ‘Monetary Velocity in the United States’
11. Gary S. Becker (1957), ‘The Forces Determining Discrimination in the Market Place’ and ‘Effective Discrimination’
12. John J. Klein (1960), ‘Price-Level and Money-Denomination Movements’
13. Norman V. Breckner (1958), ‘Liquidity and Farm Investment Outlays’
14. Boris P. Pesek (1958), ‘Monetary Reforms and Monetary Equilibrium’
15. George Macesich (1960), ‘Sources of Monetary Disturbances in the United States’
16. James K. Kindahl (1961), ‘Economic Factors in Specie Resumption: The United States, 1865–79’
17. Richard H. Timberlake (1993), ‘The Specie Circular and the Distribution of the Surplus’
18. John V. Deaver (1970), ‘The Chilean Inflation and the Demand for Money’
19. A. James Meigs (1962), ‘Development of the Hypotheses’
20. David Meiselman (1962), ‘An Operational Test of the Expectations Hypotheses’
Name Index
Volume II:
1. Edgar L. Feige (1964), ‘Estimation of Demand Functions for Financial Assets’
2. George R. Morrison (1966), ‘The Theory and its Implementation’
3. Sam Peltzman (1965), ‘Entry in Commercial Banking’
4. Adolfo Cesar Diz (1970), ‘Money and Prices in Argentina, 1935–1962’
5. Michael W. Keran (1970), ‘Monetary Policy and the Business Cycle in Postwar Japan’
6. Morris Perlman (1970), ‘International Differences in Liquid Assets Portfolios’
7. Miguel Sidrauski (1967), ‘Rational Choice and Patterns of Growth in a Monetary Economy’
8. William E. Gibson (1970), ‘Interest Rates and Monetary Policy’
9. Douglas K. Adie (1970), ‘English Bank Deposits before 1844’
10. Benjamin Klein (1974), ‘Competitive Interest Payments on Bank Deposits and the Long-Run Demand for Money’
11. Michael R. Darby (1972), ‘The Allocation of Transitory Income Among Consumers’ Assets’
12. Edi Karni (1972), ‘Inflation and Real Interest Rate: A Long-Term Analysis’
13. Robert D. Laurent (1974), ‘Currency in Circulation and the Real Value of Notes’
14. Michael David Bordo (1975), ‘The Income Effects of the Sources of Monetary Change: An Historical Approach’
15. Warren L. Coats, Jr. (1973), ‘Regulation D and the Vault Cash Game’
16. Richard V.L. Cooper (1974), ‘Efficient Capital Markets and the Quantity Theory of Money’
17. Leonardo Auernheimer (1974), ‘The Honest Government’s Guide to the Revenue from the Creation of Money’
18. James R. Lothian (1976), ‘The Demand for High-Powered Money’
19. Benjamin Eden (1976), ‘On the Specification of the Demand for Money: The Real Rate of Return versus the Rate of Inflation’
20. Jo Anna Gray (1978), ‘On Indexation and Contract Length’
21. Alan C. Stockman (1980), ‘A Theory of Exchange Rate Determination’
22. Gerald P. Dwyer, Jr. (1984), ‘The Gibson Paradox: A Cross-Country Analysis’
Name Index
Acknowledgements • Introduction
Volume I:
Part I: Students’ Reflections on their Teacher
1. Gerald P. Dwyer, Jr. (1999), ‘How was Milton Friedman Distinctive as a Teacher?’
2. David I. Fand (1999), ‘Friedman’s Price Theory: Economics 300 at the University of Chicago in 1947–1951’
3. Richard H. Timberlake (1999), ‘Observations on a Constant Teacher by a Graduate Student Emeritus’
4. Gary S. Becker (1991), ‘Milton Friedman 1912–’
Part II: The Legacy in Students’ Scholarship
5. G. Warren Nutter (1969), ‘Growth of Monopoly: 1899–1939’
6. E.J. Mishan (1952), ‘Toward a General Theory of Price, Income, and Money’
7. William Hamburger (1955), ‘The Relation of Consumption to Wealth and the Wage Rate’
8. Phillip Cagan (1956), ‘The Monetary Dynamics of Hyperinflation’
9. Eugene M. Lerner (1955), ‘Money, Prices, and Wages in the Confederacy, 1861–65’
10. Richard T. Selden (1956), ‘Monetary Velocity in the United States’
11. Gary S. Becker (1957), ‘The Forces Determining Discrimination in the Market Place’ and ‘Effective Discrimination’
12. John J. Klein (1960), ‘Price-Level and Money-Denomination Movements’
13. Norman V. Breckner (1958), ‘Liquidity and Farm Investment Outlays’
14. Boris P. Pesek (1958), ‘Monetary Reforms and Monetary Equilibrium’
15. George Macesich (1960), ‘Sources of Monetary Disturbances in the United States’
16. James K. Kindahl (1961), ‘Economic Factors in Specie Resumption: The United States, 1865–79’
17. Richard H. Timberlake (1993), ‘The Specie Circular and the Distribution of the Surplus’
18. John V. Deaver (1970), ‘The Chilean Inflation and the Demand for Money’
19. A. James Meigs (1962), ‘Development of the Hypotheses’
20. David Meiselman (1962), ‘An Operational Test of the Expectations Hypotheses’
Name Index
Volume II:
1. Edgar L. Feige (1964), ‘Estimation of Demand Functions for Financial Assets’
2. George R. Morrison (1966), ‘The Theory and its Implementation’
3. Sam Peltzman (1965), ‘Entry in Commercial Banking’
4. Adolfo Cesar Diz (1970), ‘Money and Prices in Argentina, 1935–1962’
5. Michael W. Keran (1970), ‘Monetary Policy and the Business Cycle in Postwar Japan’
6. Morris Perlman (1970), ‘International Differences in Liquid Assets Portfolios’
7. Miguel Sidrauski (1967), ‘Rational Choice and Patterns of Growth in a Monetary Economy’
8. William E. Gibson (1970), ‘Interest Rates and Monetary Policy’
9. Douglas K. Adie (1970), ‘English Bank Deposits before 1844’
10. Benjamin Klein (1974), ‘Competitive Interest Payments on Bank Deposits and the Long-Run Demand for Money’
11. Michael R. Darby (1972), ‘The Allocation of Transitory Income Among Consumers’ Assets’
12. Edi Karni (1972), ‘Inflation and Real Interest Rate: A Long-Term Analysis’
13. Robert D. Laurent (1974), ‘Currency in Circulation and the Real Value of Notes’
14. Michael David Bordo (1975), ‘The Income Effects of the Sources of Monetary Change: An Historical Approach’
15. Warren L. Coats, Jr. (1973), ‘Regulation D and the Vault Cash Game’
16. Richard V.L. Cooper (1974), ‘Efficient Capital Markets and the Quantity Theory of Money’
17. Leonardo Auernheimer (1974), ‘The Honest Government’s Guide to the Revenue from the Creation of Money’
18. James R. Lothian (1976), ‘The Demand for High-Powered Money’
19. Benjamin Eden (1976), ‘On the Specification of the Demand for Money: The Real Rate of Return versus the Rate of Inflation’
20. Jo Anna Gray (1978), ‘On Indexation and Contract Length’
21. Alan C. Stockman (1980), ‘A Theory of Exchange Rate Determination’
22. Gerald P. Dwyer, Jr. (1984), ‘The Gibson Paradox: A Cross-Country Analysis’
Name Index
