ht of the initial curve. This shows higher rates of inflation coexisting everywhere with high rates of unemployment. It seemed to require higher and higher rates of inflation to bring the unemployment down to an acceptable level. Another one of Friedman's strongest and most well known opinions was on the Federal Reserve and how it is practically useless. Friedman being the big free-market capitalist that he is, thinks that the Federal Reserve acts stupidly, rashly and doesn't take the time-lag into respect when making their dramatic decisions. Friedman also blames most of the economic instabilities on the federal reserve's action. Milton Friedman has definitely been one of the most influential economists of the 20th century. His discoveries and theories in monetary policy, school choice liberalism and inflation relations impact economic history in a way only a few people can do. He and his wife Rose are now running the Foundation for school-choice and have just published Two Lucky People: Memoirs....
