• Publications
  • Influence
The Social Responsibility of Business Is to Increase Its Profits
When I hear businessmen speak eloquently about the “social responsibilities of business in a free-enterprise system”, I am reminded of the wonderful line about the Frenchman who discovered at the ageExpand
There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agreement that these goals are mutually compatible or, among thoseExpand
A Theory of the Consumption Function
What is the exact nature of the consumption function? Can this term be defined so that it will be consistent with empirical evidence and a valid instrument in the hands of future economic researchersExpand
A Monetary History of the United States
Writing in the June  issue of the Economic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: “The long-awaited monetaryExpand
The Use of Ranks to Avoid the Assumption of Normality Implicit in the Analysis of Variance
(1937). The Use of Ranks to Avoid the Assumption of Normality Implicit in the Analysis of Variance. Journal of the American Statistical Association: Vol. 32, No. 200, pp. 675-701.
Nobel Lecture: Inflation and Unemployment
  • M. Friedman
  • Economics
  • Journal of Political Economy
  • 1 June 1977
In the past several decades, professional views on the relation between inflation and unemployment have gone through two stages and are now entering a third. The first was the acceptance of a stableExpand
The Utility Analysis of Choices Involving Risk
T vHE purpose of this paper is to suggest that an important class of reactions of individuals to risk can be rationalized by a rather simple extension of orthodox utility analysis. IndividualsExpand
A Program for Monetary Stability.
"[T]he only really sure way to beat inflation is to cut off inflation at the root. . . Milton Friedman [presents his strategy against] inflation in his penetrating . . . book . . . This isExpand