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Nobel-Winning Economist Milton Friedman Dies

By Alex Chadwick,
Amy Scott
Published November 16, 2006 at 1:57 PM EST
Milton Friedman, shown at a White House event in 2002 that was held in his honor, died Nov. 16, 2006, at the age of 94.
Alex Wong
/
Getty Images
Milton Friedman, shown at a White House event in 2002 that was held in his honor, died Nov. 16, 2006, at the age of 94.

Nobel Prize winner Milton Friedman, one of the 20th century's most influential economists, died Thursday of heart failure at the age of 94.

Friedman was an empiricist, whose theories emerged from his study of the evidence, not the other way around. He also was a champion of the free market and small government. In the early 1960s, he proposed ideas such as school vouchers and a flat national tax -- ideas that have a lot of traction today.

Friedman was also incredibly influential as an adviser to governments around the world -- as well as the Nixon, Ford and Reagan administrations. He won the Nobel Prize in 1976 for his theories.

Host Alex Chadwick talks to Marketplace's Amy Scott about Friedman's contributions and impact in the world of economics.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

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Alex Chadwick
For more than 30 years, Alex Chadwick has been bringing the world to NPR listeners as an NPR News producer, program host and currently senior correspondent. He's reported from every continent except Antarctica.
Amy Scott

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The independent journalism and non-commercial programming you rely on every day is in danger.

If you’re reading this, you believe in trusted journalism and in learning without paywalls. You value access to educational content kids love and enriching cultural programming.

Now all of that is at risk.

Federal funding for public media is under threat and if it goes, the impact to our communities will be devastating.

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Your voice has protected public media before. Now, it’s needed again. Learn how you can protect the news and programming you depend on.

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