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Introduction: Milton Friedman’s Impact on Modern Capitalism Milton Friedman (1912-2006) was a Nobel Prize-winning American economist renowned for his influential advocacy of free-market capitalism and monetarism. His economic theories, which challenged the dominant Keynesian economics of the 1950s and 1960s, significantly influenced modern capitalism as we know it today. Born
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Definition and Origins of Laissez-Faire Economics Laissez-faire is a prominent economic theory that advocates minimal intervention by the government in business affairs, with the belief that the less government interference, the more successful businesses will be, leading to overall societal benefit. The term laissez-faire, which means “let alone” or “leave
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