economics tribute

Nobel Prize winner economist Milton Friedman, died today.

I don't keep up with economics in as much detail since school, but my main interest was monetary policy. Therefore I always had an interest in monetary theory and Friedman was one of my favorite economists. I also always had an interest in the workings of the Federal Reserve Board.

Here is an interesting quote (as written in the linked article above) from Friedman to get you thinking:

In an essay titled "Is Capitalism Humane?" he said that "a set of social institutions that stresses individual responsibility, that treats the individual ... as responsible for and to himself, will lead to a higher and more desirable moral climate."