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He then worked for Columbia University and for the federal government, and became Professor of Economics at the University of Chicago. There he carried forward the intellectual tradition of the Chicago school of economics. Friedman is currently affiliated with the Hoover Institution at Stanford University.
Friedman can be classified as a monetarist, and is often seen as the leading proponent of this economic school. He maintains that there is a close and stable link between inflation and the money supply, rejects the use of fiscal policy as a tool of demand management and holds that the government's role in the management of the economy should be severely restricted...
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