Milton Friedman

High school (ages 12+)
History & Culture

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/milton-friedman

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. When was Milton Friedman born?July 31, 1912
2. When did Milton Friedman die?November 16, 2006 (age 94)
3. Where was Milton Friedman born?New York City, New York, USA
4. Who was Milton Friedman?Milton Friedman was a famous economist who won a Nobel Prize and taught at the University of Chicago. He helped change how governments think about money and jobs.
5. What is the "permanent income" idea?He said people decide how much to spend based on what they expect to earn over their whole life, not just what they have right now. This helps explain why people save and spend.

Monetarism: An economic school of thought that emphasizes the role of governments in controlling the amount of money in circulation.
Natural Rate of Unemployment: The unemployment rate that exists when the economy is at its potential output, where inflation is stable.
Consumption Smoothing: The economic theory that individuals prefer a stable level of consumption over time rather than fluctuating wildly.
Deregulation: The reduction or elimination of government regulations on businesses and industries.