Milton Friedman Theory. Prices then fall as people would have less money to spend. American economist milton friedman developed the doctrine as a theory of business ethics that states that an entity s greatest responsibility lies in the satisfaction of the shareholders the business should therefore always endeavor to maximize its revenues to increased returns for the shareholders.
July 31 1912 november 16 2006 was an american economist who received the 1976 nobel memorial prize in economic sciences for his research on consumption analysis monetary history and theory and the complexity of stabilization policy. He said that the antidote to inflation was higher interest rates which in turn reduces the money supply. American economist milton friedman developed the doctrine as a theory of business ethics that states that an entity s greatest responsibility lies in the satisfaction of the shareholders the business should therefore always endeavor to maximize its revenues to increased returns for the shareholders.
Milton friedman was one of the leading economic voices of the latter half of the 20th century.
Milton friedman ˈ f r iː d m ən. Milton friedman popularized the theory of monetarism in his 1967 address to the american economic association. This shareholder primacy approach views shareholders as the economic engine of the organization and the only group to which the firm is socially responsible. Milton friedman ˈ f r iː d m ən.
