Widely regarded as the architect of monetary economics, which places importance on the quantity of money as a tool of government policy to fight inflation, Friedman was an influence on several post-war leaders including Ronald Reagan and Margaret Thatcher.

Influence

Friedman held a BA degree from Rutgers University, an MA degree from the University of Chicago and PhD from Colombia University.

He provided economic advice to Ronald Reagan, former US president, via the Economic Policy Advisory Board.

He also served as an economic advisor to Richard Nixon in his successful 1968 presidential campaign.

Friedman was the author of several influential books and articles, including 'A Theory of the Consumption Function' and 'Capitalism and Freedom'.