Bücher von Milton Friedman

2015 Reprint of 1957Edition. Full Facsimile of the original edition. Not reproduced with Optical Recognition Software. In this book Friedman developed the permanent income hypothesis (PIH). As classical Keynesian consumption theory was unable to explain the constancy of savings rate in the face of rising real incomes in the United States, a number of new theories of consumer behavior emerged. In his book, Friedman posits a theory that encompasses many of the competing hypotheses at the time as special cases and presents statistical evidence in support of his theory."Friedman described Keynes's theory of a declining propensity to consume as 'very imaginative and thoughtful.' But in "A Theory of the Consumption Function" (1957), he demonstrated that while the hypothesis seemed to make psychological sense, it was empirically false. In relating income to propensity to consume, Keynes had erred in not distinguishing between 'transitory' and 'permanent' income. In fact, consumption does not decline as incomes generally rise. Economists across the political spectrum agreed with Friedman's refutation of Keynes...."--James A. Nuechterlein, Commentary

Milton Friedmans Buch ist aktueller denn je. Ihm geht es um die Freiheit des Menschen jenseits staatlicher Bevormundung. Seine Analyse zur Rolle des Staates, der Sozial- und Wohlfahrtssysteme ist nicht nur ein anschauliches Buch, sondern für jeden an Politik und Wirtschaft interessierten Leser eine spannende Lektüre. Mit einem neuen Vorwort des Autors und einem Geleitwort von Horst Siebert, dem ehemaligen Präsidenten des Kieler Instituts für Weltwirtschaft.

Das Sachbuch „Kapitalismus und Freiheit" zählt zu den anerkanntesten wirtschaftspolitischen Werken unserer Zeit. Der amerikanische Wirtschaftswissenschaftler Milton Friedman setzt sich darin mit der Bedeutung von wirtschaftlicher Freiheit für die politische Unabhängigkeit des Menschen in der modernen Gesellschaft auseinander. Die hier vorliegende Auflage enthält neben einem nachträglich verfassten Vorwort von Milton Friedman auch Anmerkungen des bekannten deutschen Ökonomen Horst Siebert. Milton Friedman wurde am 31. Juli 1912 im New Yorker Stadtbezirk Brooklyn geboren. Er studierte Mathematik und Ökonomie an der Rutgers University in New Jersey, sowie an der University of Chicago. Nach seinem Studienabschluss arbeitete Milton Friedman zunächst im öffentlichen Dienst. Im Jahr 1946 erhielt er seine Promotion und übernahm eine Stelle als Dozent an der Universität von Chicago, für die er über 30 Jahre lang tätig war. In dieser Zeit verfasste Milton Friedman wegweisende Theorien und wurde für seine Arbeit im Jahr 1976 mit dem Alfred-Nobel-Gedächtnispreis für Wirtschaftswissenschaften ausgezeichnet.

Frontmatter -- Table of Contents -- Preface -- Preface to Price Theory: A Provisional Text -- 1. Introduction -- 2. Theory of Demand -- 3. The "Welfare" Effects of Taxes -- 4. The Utility Analysis of Uncertainty -- 5. The Relationships Between Supply Curves and Cost Curves -- 6. The Law of Variable Proportions and a Firm's Cost Curves -- 7. Derived Demand -- 8. The Theory of Distribution with Fixed Proportions -- 9. The Theory of Marginal Productivity and the Demand for Factors of Production -- 10. Marginal Productivity Analysis: Some General Issues -- 11. The Supply of Factors of Production -- 12. Wage Determination and Unemployment -- 13. Wages in Different Occupations -- 14. Relation Between the Functional and Personal Distribution of Income -- 15. The Size Distribution of Income -- 16. Profits -- 17. The Theory of Capital and the Rate of Interest -- Appendix A: Reading Assignments -- Appendix B: Problems -- Index

Friedman and Schwartz's A Monetary History of the United States, 1867-1960, published in 1963, stands as one of the most influential economics books of the twentieth century. A landmark achievement, the book marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. The chapter entitled "e;The Great Contraction, 1929-33"e; addressed the central economic event of the century, the Great Depression. Published as a stand-alone paperback in 1965, The Great Contraction, 1929-1933 argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy--a concept that has come to inform the actions of central banks worldwide. This edition of the original text includes a new preface by Anna Jacobson Schwartz, as well as a new introduction by the economist Peter Bernstein. It also reprints comments from the current Federal Reserve chairman, Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.

Argues that free-market forces work better than government controls for achieving real equality and security, protecting consumers and workers, providing education, and avoiding inflation and unemployment.

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 researchers and policy makers? This book presents a theory of the consumption function, and tests it against extensive statistical material.

At the January 1977 meeting of its monthly Economic Seminar series, the Federal Reserve Bank of San Francisco was honored to present Prof. Franco Modigliani, Immediate Past President of the American Economic Association. In his paper, Prof. Modigliani developed some of the themes which he had first covered last September in his AEA Presidential Address, ¿gThe Monetarist Controversy"YOr, Should We Forsake Stabilization Policies?¿h The Bank was doubly fortunate to obtain, as seminar discussant, Nobel Laureate Milton Friedman, who was serving as Visiting Scholar at this institution during the winter term. This supplement to the Bank¿fs Economic Review contains Prof. Modigliani¿fs lecture, Prof. Friedman¿fs reply, the discussion between the two and a floor discussion"Yplus, as an appendix, Prof. Modigliani¿fs AEA Presidential Address. The seminar was chaired by Dr. Michael W. Keran, Vice President and Director of Research for the Federal Reserve Bank of San Francisco.

"[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 is controversial stuff, and Professor Friedman . . . doesn''t blanch at what he feels is his call of duty. And many a banker will just see red . . . [This book] can be recommended for a good look at the real roots of inflationΓÇöthe look that thus far has not been widespread enough, among enough people."ΓÇöThe Wall Street Journal