Milton Friedman, Nobel-winning economist and author of Capitalism and Freedom, passed away today in San Francisco.
Dr Friedman, a leading light of the Chicago School, championed the notion that inflation is always and everywhere a monetary phenomenon, today the ratio legis of monetary policy. Influential in both academia and government, Dr Friedman's work defined contemporary laissez faire economics and shaped public policy in the latter half of the twentieth century.
He was 94.




