Milton Friedman, the free market economist who inspired Margaret Thatcher's economic reforms of the 1980s, died yesterday aged 94.
His theory that inflation resulted from too much money chasing too few goods inspired a generation of central bankers and played a pivotal role in forming the governing philosophies of Lady Thatcher and President Ronald Reagan in the US.
Lady Thatcher said last night: "Milton Friedman revived the economics of liberty when it had been all but forgotten. He was an intellectual freedom fighter. Never was there a less dismal practitioner of a dismal science.
"I shall greatly miss my old friend's lucid wisdom and mordant humour."
Friday, November 17, 2006
Thatcher praises Friedman, her freedom fighter
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