Milton Freidman
Milton Freidman was born in 1912 in Brooklyn, New York. Freidman was the youngest of four children and even though his parents worked, the income was very little. However, there was always food on the table and the family atmosphere was very supportive. Freidman attended public schools along with his sisters and in 1928 he graduated from high school at the age of sixteen. His father died during his senior year of high school. Friedman wanted to attended college even though it meant he would have to pay for it by himself.
Luckily for Friedman, he was awarded a scholarship from Rutgers University. Friedman enjoyed mathematics and he went to school with the intentions of becoming an actuary (a person finds ways to manage potential risks), instead of what he is now famous for, economics. During his four years at Rutgers, he specialized in mathematics and went as far to taking a few actuarial examines. However, shortly after, he became interested in economics and eventually ended with a major in both actuary and economics. In Freidman’s autobiography, he mentions two men who helped him better understand economics. Arthur Burns, one of the men mentioned, was teaching at Rutgers while completing his doctorate for Columbia. “Burns shaped my understanding of economic research, introduced me to the highest scientific standards, and became a guiding influence on my subsequent career” (citation). Homer Jones was the other individual who had an impact on Friedman’s life. Jones introduced Freidman to rigorous economic theory, made economics exciting and relevant, and encouraged him to go on to graduate work. With Jones recommendation, the Chicago Economics Department offered Friedman a scholarship. He began attending classes at Chicago in 1932. According to Friedman, the most important event of that year was meeting an extremely bright fellow economics student, Rose Director. Six years later they got married and Rose became an active partner in...
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