---
title: Milton Friedman
author: Bachrach Studios
source: https://www.worldhistory.org/image/21798/milton-friedman/
format: machine-readable-alternate
updated: 2026-05-07
---
# Milton Friedman
_Authored by Bachrach Studios_
## Image File
[](https://www.worldhistory.org/uploads/images/21798.jpg)
## Image Caption
Portrait of Milton Friedman, photograph by Bachrach Studios, New York, 1 January 1986.
Milton Friedman was an American economist and academic who was a professor at the University of Chicago and won the 1976 Nobel Memorial Prize in Economic Sciences. He is recognized as one of the most influential proponents of monetarism, an economic [philosophy](https://www.worldhistory.org/philosophy/) that emphasizes a reduction of inflation by controlling money supply through the Federal Reserve whilst reducing government spending. Friedman advised both President Ronald Reagan and Prime Minister Margaret Thatcher on their economic policies.
## Cite This Work
### APA
Studios, B. (2026, May 07). Milton Friedman. *World History Encyclopedia*.
### Chicago
Studios, Bachrach. "Milton Friedman." *World History Encyclopedia*, May 07, 2026. .
### MLA
Studios, Bachrach. "Milton Friedman." *World History Encyclopedia*, 07 May 2026, .
## License & Copyright
[](https://commons.wikimedia.org/wiki/File:Portrait_of_Milton_Friedman_(4x5_cropped).jpg)Based on [Wikipedia](http://www.wikipedia.org/ "Wikipedia") content that has been reviewed, edited, and republished. [Original image](https://commons.wikimedia.org/wiki/File:Portrait_of_Milton_Friedman_(4x5_cropped).jpg) by [**Bachrach Studios**](https://commons.wikimedia.org/wiki/File:Portrait_of_Milton_Friedman_(4x5_cropped).jpg). Submitted by [Franco R. Batista Garcia](https://www.worldhistory.org/user/francobatista022/ "User Page: Franco R. Batista Garcia"), published on 07 May 2026. The copyright holder has published this content under the following license: [Public Domain](http://en.wikipedia.org/wiki/Public_domain). This item is in the public domain, and can be used, copied, and modified without any restrictions. Please note that content linked from this page may have different licensing terms.