Beginning of Essay
, like so many great life stories, was the subject of a very tough childhood. He was son to a couple of poor immigrants, born on 31 July 1912, in New York, America. At the age of fifteen, Friedman's father died. Despite this, he won a scholarship to both Rutgers U ....

Middle of Essay
.... strictly a monetarist. This means that he believed that inflation was a direct result of growth in the supply of money into an economy. His views differed however, with those of his contemporaries, in the major point that he believed that economic stability could only be reached through non-intervention on behalf of the government. This policy is often known as laissez-faire (French for 'let things be') economics. The policy at the time was for the government to sharply increase or decrease money supply, to counteract inflation, in an attempt to attain a stable economy. Friedman argued however, that this intervention was destabilising, and that what ....