Milton Friedman, RIP

Various news sources are reporting that Nobel Prize-winning economist Milton Friedman died today at the age of 94. Friedman, of course, has been one of the leading figures in both academic and popular discussions of free-market economics for over half a century.

The most fitting memorial I can see to Friedman is for Congress and the president to work together to pass a substantial increase in the Earned Income Tax Credit to benefit the working poor, in lieu of the Democrats’ preferred option of hiking the minimum wage on virtually all workers regardless of need, the idea for which originated in Friedman’s own proposal of a “negative income tax” rebate for the least well-off members of the workforce.

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Chris Lawrence
About Chris Lawrence
Chris teaches political science at Middle Georgia State University in Macon, Georgia. He has a Ph.D. in political science (with concentrations in American politics and political methodology) from the University of Mississippi. He began writing for OTB in June 2006. Follow him on Twitter @lordsutch.