Economist Milton Friedman dies at 94

November 16, 2006

Nobel laureate Milton Friedman has died at the age of 94, his family announced. Friedman is considered to be one the most influential economists of the past century.

Friedman won the Nobel Prize in Economics in 1976 and essentially defined the theory of Monetarism. He served on U.S. President Reagan's Economic Policy Advisory Board and significantly influenced post-WWII economic policy in the U.S.

He was a leading figure in the Chicago school of economics.