弗(fu)(fu)里(li)(li)(li)德(de)曼(man)生于紐約市一(yi)個工(gong)人階級的(de)(de)猶太人家庭，父親是(shi)耶諾·紹爾(er)(er)·弗(fu)(fu)里(li)(li)(li)德(de)曼(man)（Jeno Saul Friedman），母親是(shi)薩拉·埃特爾(er)(er)·蘭道（Sarah Ethel Landau，1892年-？），兩人從(cong)奧匈帝國(guo)（今烏(wu)克蘭一(yi)帶）移(yi)居(ju)美國(guo)，在(zai)(zai)當地(di)邂逅(hou)，曾在(zai)(zai)血汗工(gong)廠工(gong)作。弗(fu)(fu)里(li)(li)(li)德(de)曼(man)是(shi)家中第一(yi)個孩(hai)子(zi)，也是(shi)唯一(yi)的(de)(de)男孩(hai)。他的(de)(de)三(san)個妹(mei)妹(mei)包(bao)括：蒂莉·F·弗(fu)(fu)里(li)(li)(li)德(de)曼(man)（Tillie F. Friedman，1919年-？）、海倫·弗(fu)(fu)里(li)(li)(li)德(de)曼(man)（Helen Friedman，1920年-？）和(he)露(lu)絲·弗(fu)(fu)里(li)(li)(li)德(de)曼(man)（Ruth Friedman，1921年-？）。高(gao)中時，弗(fu)(fu)里(li)(li)(li)德(de)曼(man)父親逝世后，舉家搬到新(xin)澤西州的(de)(de)羅威(wei)市（Rahway）。
他16歲前完成高中，憑獎學(xue)(xue)金(jin)入讀(du)羅(luo)格斯(si)(si)大(da)學(xue)(xue)。原(yuan)打算(suan)成為精算(suan)師的弗里(li)德(de)曼(man)最(zui)初修(xiu)讀(du)數學(xue)(xue)，但(dan)成績平(ping)平(ping)。1932年(nian)取得文學(xue)(xue)士，翌(yi)年(nian)他到芝加哥大(da)學(xue)(xue)修(xiu)讀(du)碩(shuo)士，1933年(nian)芝大(da)碩(shuo)士畢業(ye)。上第一(yi)(yi)(yi)堂(tang)經濟課(ke)時，座(zuo)位是(shi)以姓氏字(zi)母編(bian)排，他緊隨一(yi)(yi)(yi)名(ming)叫羅(luo)斯(si)(si)（Rose Director）的女生之后(hou)。兩人6年(nian)后(hou)結婚，從此終生不渝。弗里(li)德(de)曼(man)曾說他的作品無一(yi)(yi)(yi)不被羅(luo)斯(si)(si)審閱，更笑言自(zi)己成為學(xue)(xue)術權威后(hou)，羅(luo)斯(si)(si)是(shi)唯(wei)一(yi)(yi)(yi)膽敢跟他辯論(lun)的人.
畢業后(hou)，他(ta)(ta)(ta)曾為羅斯(si)福新政(zheng)工作以求(qiu)糊口，批準(zhun)了(le)許多早期的(de)(de)新政(zheng)措(cuo)施以解決當時(shi)面臨的(de)(de)艱難經濟情(qing)況，尤其是新政(zheng)的(de)(de)許多公共(gong)建(jian)設計劃(hua)。輾轉(zhuan)間他(ta)(ta)(ta)到哥倫比亞大(da)學繼續修讀經濟學，研(yan)(yan)究計量、制(zhi)度(du)及實(shi)踐經濟學。返(fan)回芝(zhi)加哥后(hou)，獲亨利(li)·舒爾茨（Henry Schultz）聘任為研(yan)(yan)究助理(li)，協助完成(cheng)《需求(qiu)理(li)論(lun)及計算》論(lun)文。為美國(guo)國(guo)家經濟研(yan)(yan)究局工作時(shi)，他(ta)(ta)(ta)1940年曾完成(cheng)一書(shu)，指醫生的(de)(de)壟斷局面導致他(ta)(ta)(ta)們的(de)(de)收入(ru)遠(yuan)高于牙醫，引起局方爭議，令該(gai)書(shu)要在戰后(hou)始能出(chu)版。
弗里(li)德曼在威斯康辛大學(xue)任教了一小段時間(jian)，但由于在經濟學(xue)系里(li)碰上了反猶(you)主義(yi)者的(de)阻撓(nao)而(er)只得返回政府(fu)部門工作。
1941年至(zhi)1943年，他出任美國財政(zheng)部(bu)顧問，研(yan)究(jiu)戰時稅(shui)(shui)務政(zheng)策，曾支持凱恩(en)斯(si)(si)主(zhu)義的(de)稅(shui)(shui)賦政(zheng)策，并且(qie)協助推(tui)廣預扣所(suo)得(de)稅(shui)(shui)制度。1943年至(zhi)1945年在(zai)哥倫比亞大學(xue)(xue)參與Harold Hotelling及(ji)(ji)W. Allen Wallis的(de)研(yan)究(jiu)小(xiao)組(zu)，為武器(qi)設計、戰略及(ji)(ji)冶(ye)金實(shi)驗分析數據。1945年，他與后來的(de)諾貝爾經(jing)濟學(xue)(xue)獎得(de)主(zhu)喬治·斯(si)(si)蒂(di)格(ge)勒到(dao)明尼蘇達大學(xue)(xue)任職，1946年他獲哥倫比亞大學(xue)(xue)博士(shi)學(xue)(xue)位(wei)，隨后回到(dao)芝加(jia)哥大學(xue)(xue)教授經(jing)濟理(li)論，期間再為國家經(jing)濟研(yan)究(jiu)局研(yan)究(jiu)貨幣在(zai)商(shang)業周期的(de)角(jiao)色(se)。這是(shi)他學(xue)(xue)術(shu)上(shang)的(de)重大分水嶺。
在他(ta)的(de)(de)自傳中，弗里德曼(man)曾描(miao)述1941至43年為羅(luo)斯福新政工作時，“當時我(wo)是一個徹底的(de)(de)凱恩(en)斯主義者”。隨著(zhu)時間過去(qu)，弗里德曼(man)對于經濟(ji)政策的(de)(de)看法也逐漸轉變，他(ta)在芝大(da)成立貨(huo)幣(bi)及銀行研究小組，借(jie)著(zhu)經濟(ji)史論家安娜·施(shi)瓦(wa)茨的(de)(de)協助，發表(biao)影響深遠的(de)(de)《美國貨(huo)幣(bi)史》著(zhu)作。他(ta)在書中挑(tiao)戰凱恩(en)斯學派的(de)(de)觀(guan)點，抨(peng)擊他(ta)們忽略(lve)貨(huo)幣(bi)供應、金(jin)融政策對經濟(ji)周期及通(tong)脹的(de)(de)重要性。
他(ta)接著在(zai)芝加(jia)哥大學(xue)(xue)(xue)擔任(ren)經濟(ji)(ji)學(xue)(xue)(xue)教(jiao)授，直至1976年退休。這30年里他(ta)將芝大經濟(ji)(ji)系形塑(su)成(cheng)緊密而完整(zheng)的(de)(de)(de)經濟(ji)(ji)學(xue)(xue)(xue)派(pai)，力倡自由經濟(ji)(ji)，被稱為(wei)芝加(jia)哥經濟(ji)(ji)學(xue)(xue)(xue)派(pai)。在(zai)弗(fu)里德(de)曼(man)的(de)(de)(de)領導下(xia)，多名芝加(jia)哥學(xue)(xue)(xue)派(pai)的(de)(de)(de)成(cheng)員獲(huo)得諾貝(bei)爾(er)經濟(ji)(ji)學(xue)(xue)(xue)獎。他(ta)在(zai)1953年至1954年間(jian)以訪問學(xue)(xue)(xue)者的(de)(de)(de)身分前往英國(guo)劍橋大學(xue)(xue)(xue)岡維爾(er)與凱(kai)斯學(xue)(xue)(xue)院(yuan)任(ren)教(jiao)。從1977年開(kai)始(shi)弗(fu)里德(de)曼(man)也加(jia)入了斯坦福大學(xue)(xue)(xue)的(de)(de)(de)胡佛(fo)研(yan)究(jiu)所。弗(fu)里德(de)曼(man)在(zai)1988年取得了美國(guo)的(de)(de)(de)國(guo)家(jia)科學(xue)(xue)(xue)獎章。
他(ta)在(zai)1980主(zhu)持了名為“選擇的自由(you)”的節目(mu)，并(bing)出(chu)版了同名的著作，使得他(ta)廣(guang)泛(fan)的被大眾認識(shi)。在(zai)節目(mu)中他(ta)以(yi)一(yi)支鉛筆說(shuo)明自由(you)市場(chang)的原理的片段(duan)，成(cheng)為了他(ta)廣(guang)受歡迎的一(yi)段(duan)言論，至今(jin)在(zai)網絡(luo)上依然可以(yi)見(jian)到其(qi)蹤影。
他通常(chang)反對政府干預(yu)的計劃，尤(you)其(qi)是(shi)對于(yu)市(shi)(shi)場價格(ge)的管(guan)制(zhi)，他認為(wei)價格(ge)在(zai)市(shi)(shi)場機(ji)制(zhi)里(li)扮演調度資源所(suo)不(bu)可或缺的信號功能(neng)。在(zai)《美國貨(huo)幣歷史》一書中，他提(ti)出大蕭條其(qi)實是(shi)政府對于(yu)貨(huo)幣供應管(guan)制(zhi)不(bu)當(dang)所(suo)致。后來(lai)他在(zai)2006年說道(dao)：“你知道(dao)嗎？很奇怪(guai)的是(shi)為(wei)何人們仍以為(wei)是(shi)羅(luo)斯福的政策讓我們脫離了經濟大蕭條。當(dang)時的問題是(shi)，你有一堆失業的機(ji)器和(he)(he)失業的人民，你怎(zen)么能(neng)靠著成立(li)產(chan)業壟斷集團和(he)(he)提(ti)升(sheng)價格(ge)及工資來(lai)解(jie)決(jue)他們的問題？”
1992年獲諾(nuo)貝(bei)爾經濟(ji)獎的加里·貝(bei)克形(xing)容(rong)，弗里德曼(man)可能是(shi)(shi)全球最(zui)(zui)為人認(ren)識(shi)的經濟(ji)學家，“他(ta)能以最(zui)(zui)簡單的語言表達最(zui)(zui)艱深的經濟(ji)理論(lun)”。他(ta)亦是(shi)(shi)極出色(se)的演說家，能隨時即席(xi)演說，極富說服力。香港(gang)科技大(da)學經濟(ji)發展研究中心主任雷鼎鳴形(xing)容(rong)弗里德曼(man)思考快如閃電，據說辯論(lun)從未輸過(guo)。“無人敢說辯贏(ying)了他(ta)，因(yin)與他(ta)辯論(lun)過(guo)已是(shi)(shi)無限光榮，沒多少人能與他(ta)說上兩(liang)分鐘。”
弗(fu)里(li)德曼(man)是(shi)(shi)學術世家。他妻(qi)子羅絲是(shi)(shi)經濟學家，其妻(qi)兄長亞倫·戴雷科特(te)是(shi)(shi)芝加哥(ge)大學聲望顯赫的法律(lv)學教授(shou)。弗(fu)里(li)德曼(man)育有兩名子女，包(bao)括(kuo)女兒(er)珍尼·弗(fu)里(li)德曼(man)及大衛·弗(fu)里(li)德曼(man)，大衛本身是(shi)(shi)無政府資本主義學說的重要學者。大衛的兒(er)子Patri畢業于斯坦(tan)福大學，2006年時在Google任(ren)職。
他于2006年11月16日(ri)在舊金山家中因(yin)心(xin)臟病發引致衰竭逝(shi)世。
"Professor Pigou's Method for Measuring Elasticities of Demand From Budgetary Data" The Quarterly Journal of Economics Vol. 50, No. 1 (Nov., 1935), pp. 151-163 JSTOR
"Marginal Utility of Money and Elasticities of Demand," The Quarterly Journal of Economics Vol. 50, No. 3 (May, 1936), pp. 532-533 JSTOR
"The Use of Ranks to Avoid the Assumption of Normality Implicit in the Analysis of Variance," Journal of the American Statistical Association Vol. 32, No. 200 (Dec., 1937), pp. 675-701 JSTOR
"The Inflationary Gap: II. Discussion of the Inflationary Gap," American Economic Review Vol. 32, No. 2, Part 1 (Jun., 1942), pp. 314-320 JSTOR
"The Spendings Tax as a Wartime Fiscal Measure," American Economic Review Vol. 33, No. 1, Part 1 (Mar., 1943), pp. 50-62 JSTOR
Taxing to Prevent Inflation: Techniques for Estimating Revenue Requirements (Columbia U.P. 1943, 236pp) with Carl Shoup and Ruth P. Mack
Income from Independent Professional Practice with Simon Kuznets (1945), 弗里德曼的博士論文
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"The Expected-Utility Hypothesis and the Measurability of Utility", with Leonard Savage, 1952, Journal of Political Economy Vol. 60, No. 6 (Dec., 1952), pp. 463-474 JSTOR
The Methodology of Positive Economics (1953)
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"Choice, Chance, and the Personal Distribution of Income," Journal of Political Economy Vol. 61, No. 4 (Aug., 1953), pp. 277-290 JSTOR
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A Theory of the Consumption Function (1957)
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"The Supply of Money and Changes in Prices and Output", 1958, in Relationship of Prices to Economic Stability and Growth.
"The Demand for Money: Some Theoretical and Empirical Results," Journal of Political Economy Vol. 67, No. 4 (Aug., 1959), pp. 327-351 JSTOR
A Program for Monetary Stability (Fordham University Press, 1960) 110 pp
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"The Lag in Effect of Monetary Policy," Journal of Political EconomyVol. 69, No. 5 (Oct., 1961), pp. 447-466 JSTOR
Price Theory ISBN 0-202-06074-8 (1962), college textbook
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Inflation: Causes and consequences, 1963.
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A Monetary History of the United States, 1867-1960, with Anna J. Schwartz, 1963; part 3 reprinted as The Great Contraction
"Money and Business Cycles" with A. J. Schwartz, 1963, Review of Economics & Statistics.
"The Relative Stability of Monetary Velocity and the Investment Multiplier in the United States, 1898-1958", with D. Meiselman, 1963, in Stabilization Policies.
"A Reply to Donald Hester", with D. Meiselman, 1964
"Reply to Ando and Modigliani and to DePrano and Mayer," with David Meiselman. American Economic Review Vol. 55, No. 4 (Sep., 1965), pp. 753-785 JSTOR
"Interest Rates and the Demand for Money," Journal of Law and Economics Vol. 9 (Oct., 1966), pp. 71-85 JSTOR
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"What Price Guideposts?", in G.P. Schultz, R.Z. Aliber, editors, Guidelines
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'Monetary vs. Fiscal Policy with Walter W. Heller (1969)
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"Comments on the Critics," Journal of Political Economy Vol. 80, No. 5 (Sep., 1972), pp. 906-950 JSTOR
"Comments on the Critics", 1974, in Gordon, ed. Milton Friedman and his Critics.
"Monetary Correction: A proposal for escalation clauses to reduce the cost of ending inflation", 1974
The Optimum Quantity of Money: And Other Essays (1976)
Milton Friedman in Australia, 1975 (1975)
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"Comments on Tobin and Buiter", 1976, in J. Stein, editor, Monetarism.
"Inflation and Unemployment: Nobel lecture", 1977, Journal of Political Economy. Vol. 85, pp. 451-72. JSTOR
"Interrelations between the United States and the United Kingdom, 1873-1975.", with A.J. Schwartz, 1982, J Int Money and Finance
Monetary Trends in the United States and the United Kingdom: Their relations to income, prices and interest rates, 1876-1975. with Anna J. Schwartz, 1982
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Chao, Hsiang-ke. "Milton Friedman and the Emergence of the Permanent Income Hypothesis" History of Political Economy 2003 35(1): 77-104. Issn: 0018-2702 Fulltext in Project Muse
A.W. Bob Coats; "The Legacy of Milton Friedman as Teacher" Economic Record, Vol. 77, 2001
Frazer, William. Power and Ideas: Milton Friedman and the Big U-Turn. Vol. 1: The Background. Vol. 2: The U-Turn. Gainesville, Fla.: Gulf/Atlantic, 1988. 867 pp.
Hammond, J. Daniel. "Remembering Economics" Journal of the History of Economic Thought 2003 25(2): 133-143. Issn: 1042-7716; focus is on Friedman
Hirsch, Abraham, and Neil de Marchi. Milton Friedman: Economics in Theory and Practice (1990) his methodology
Jordan, Jerry L., Allan H. Meltzer, Thomas J. Sargent and Anna J. Schwartz; "Milton, Money, and Mischief: Symposium and Articles in Honor of Milton Friedman's 80th Birthday" Economic Inquiry. Volume: 31. Issue: 2. 1993. pp 197+.
Kasper, Sherryl. The Revival of Laissez-Faire in American Macroeconomic Theory: A Case Study of Its Pioneers (2002)
Leeson, Robert, ed. Ideology and International Economy: The Decline and Fall of Bretton Woods (2003)
Powell, Jim. The Triumph of Liberty (New York: Free Press, 2000). See profile of Friedman in the chapter "Inflation and Depression."
Rayack; Elton. Not So Free to Choose: The Political Economy of Milton Friedman and Ronald Reagan Praeger, 1987; attacks Friedman's policies from the left
Steindl, Frank G. "Friedman and Money in the 1930s" History of Political Economy 2004 36(3): 521-531. Issn: 0018-2702 lecture notes from his 1940 course show he did not criticize the Fed at that time, and did not emphasize money.
Tavlas, George S. "Retrospectives: Was the Monetarist Tradition Invented?" Journal of Economic Perspectives 1998 12(4): 211-222. Issn: 0895-3309 Fulltext in JSTOR
Stigler, George Joseph. Memoirs of an Unregulated Economist (1988)
Wahid, Abu N. M. ed; Frontiers of Economics: Nobel Laureates of the Twentieth Century. Greenwood Press. 2002 pp 109-15.
《實證(zheng)經濟(ji)學論(lun)文集》（Essays in Positive Economics）
《消費函數理論(lun)》（A Theory of the Consumption Function）
《資本(ben)主義(yi)與自由(you)》（Capitalism and Freedom）
《自由選擇》（Free to Choose）
《價格理(li)論》（Price Theory：A Provisional Text）
《美國貨幣史(shi)》（A Monetary History of the United States，1867一1960）與施瓦茲（Anna J.Schwartz）
弗(fu)里(li)(li)德曼最知(zhi)名的(de)(de)(de)(de)(de)(de)(de)理論(lun)，是(shi)他提出(chu)的(de)(de)(de)(de)(de)(de)(de)貨(huo)(huo)(huo)幣供(gong)給(gei)作為決(jue)(jue)定(ding)生(sheng)產價(jia)值基準的(de)(de)(de)(de)(de)(de)(de)因素，通貨(huo)(huo)(huo)膨脹(zhang)在(zai)(zai)根本上(shang)(shang)源(yuan)自(zi)于貨(huo)(huo)(huo)幣供(gong)給(gei)量的(de)(de)(de)(de)(de)(de)(de)主張(zhang)。貨(huo)(huo)(huo)幣主義是(shi)現(xian)代(dai)(dai)經濟學在(zai)(zai)貨(huo)(huo)(huo)幣數量理論(lun)的(de)(de)(de)(de)(de)(de)(de)重要觀(guan)點之(zhi)一(yi)，這(zhe)種理論(lun)的(de)(de)(de)(de)(de)(de)(de)根源(yuan)可以追溯至(zhi)16世紀西班牙的(de)(de)(de)(de)(de)(de)(de)薩(sa)拉曼卡學派，弗(fu)里(li)(li)德曼的(de)(de)(de)(de)(de)(de)(de)貢獻則(ze)是(shi)現(xian)代(dai)(dai)化了(le)這(zhe)種理論(lun)，將其推(tui)廣為現(xian)代(dai)(dai)經濟學的(de)(de)(de)(de)(de)(de)(de)主流(liu)貨(huo)(huo)(huo)幣學說。他在(zai)(zai)1963年與Anna Schwartz合著的(de)(de)(de)(de)(de)(de)(de)A Monetary History of the United States一(yi)書中檢驗了(le)美國歷史上(shang)(shang)貨(huo)(huo)(huo)幣供(gong)給(gei)和經濟活動(dong)之(zhi)間的(de)(de)(de)(de)(de)(de)(de)關(guan)聯(lian)(lian)。他們得出(chu)了(le)驚人結(jie)論(lun)：貨(huo)(huo)(huo)幣供(gong)給(gei)一(yi)向是(shi)經濟活動(dong)起伏的(de)(de)(de)(de)(de)(de)(de)唯一(yi)影(ying)(ying)響(xiang)來源(yuan)。又或者如同(tong)美國聯(lian)(lian)邦儲備(bei)系統的(de)(de)(de)(de)(de)(de)(de)主席本·伯南(nan)克(ke)在(zai)(zai)2002年慶(qing)祝弗(fu)里(li)(li)德曼90歲生(sheng)日時所描述的(de)(de)(de)(de)(de)(de)(de)：“有關(guan)大(da)蕭(xiao)條，你是(shi)正(zheng)確的(de)(de)(de)(de)(de)(de)(de)，我(wo)們（聯(lian)(lian)邦儲備(bei)系統）當(dang)時的(de)(de)(de)(de)(de)(de)(de)確做錯了(le)。我(wo)們真的(de)(de)(de)(de)(de)(de)(de)很抱歉。”David Meiselman在(zai)(zai)1960年代(dai)(dai)進(jin)行的(de)(de)(de)(de)(de)(de)(de)幾次研(yan)究(jiu)(jiu)顯示了(le)貨(huo)(huo)(huo)幣供(gong)給(gei)在(zai)(zai)決(jue)(jue)定(ding)經濟投資、以及政(zheng)府(fu)開(kai)銷(xiao)在(zai)(zai)決(jue)(jue)定(ding)消(xiao)費及生(sheng)產總(zong)額上(shang)(shang)的(de)(de)(de)(de)(de)(de)(de)角色(se)是(shi)至(zhi)高無上(shang)(shang)的(de)(de)(de)(de)(de)(de)(de)。弗(fu)里(li)(li)德曼的(de)(de)(de)(de)(de)(de)(de)觀(guan)察研(yan)究(jiu)(jiu)和一(yi)些學說進(jin)一(yi)步(bu)推(tui)展了(le)這(zhe)種結(jie)論(lun)，主張(zhang)貨(huo)(huo)(huo)幣供(gong)給(gei)的(de)(de)(de)(de)(de)(de)(de)改變是(shi)影(ying)(ying)響(xiang)經濟生(sheng)產的(de)(de)(de)(de)(de)(de)(de)首(shou)要原因，但長(chang)期的(de)(de)(de)(de)(de)(de)(de)影(ying)(ying)響(xiang)則(ze)是(shi)由物價(jia)水平決(jue)(jue)定(ding)的(de)(de)(de)(de)(de)(de)(de)。
弗(fu)里(li)德(de)曼對于消費層(ceng)面的(de)(de)(de)分析也相當(dang)知名，亦(yi)即他(ta)在(zai)1957年提(ti)出(chu)的(de)(de)(de)恒常所(suo)得(de)假說。這個理(li)論(lun)被一些經(jing)濟學(xue)者視為是他(ta)在(zai)經(jing)濟學(xue)方(fang)法(fa)論(lun)上(shang)最重(zhong)(zhong)要的(de)(de)(de)貢獻。他(ta)其他(ta)重(zhong)(zhong)要的(de)(de)(de)貢獻還包括了對菲利普斯曲線的(de)(de)(de)批評，以(yi)及他(ta)提(ti)出(chu)的(de)(de)(de)失業率的(de)(de)(de)自然比率的(de)(de)(de)概(gai)念（1968年）。這些學(xue)說都與貨幣和金融政(zheng)策在(zai)對經(jing)濟的(de)(de)(de)長期(qi)及短期(qi)影響上(shang)有關(guan)。在(zai)統計學(xue)上(shang)，他(ta)則(ze)創造出(chu)了知名的(de)(de)(de)弗(fu)里(li)德(de)曼測試(shi)。
弗里德曼的論(lun)文(wen)The Methodology of Positive Economics（1953年(nian)）則替他(ta)稍后幾十(shi)年(nian)的研究(jiu)方法論(lun)架構了(le)模型，并(bing)且也成為(wei)(wei)了(le)芝加哥經(jing)(jing)濟學派的主要(yao)框架之(zhi)(zhi)一。他(ta)主張(zhang)經(jing)(jing)濟學身為(wei)(wei)一種學科，應該免于客觀的價值衡量。除此之(zhi)(zhi)外，一個(ge)經(jing)(jing)濟理論(lun)有(you)用與否(fou)，不(bu)應該是(shi)以它(ta)對(dui)現實的描述（例如頭(tou)發顏色(se)）作為(wei)(wei)衡量標準，而是(shi)應該以它(ta)能否(fou)有(you)效作為(wei)(wei)對(dui)未來情況(kuang)的預測為(wei)(wei)基準。
弗(fu)里德曼在理論上(shang)有三大貢獻，首先是(shi)提出現代(dai)貨(huo)幣(bi)數量論，即通(tong)貨(huo)膨脹起源于“太多的貨(huo)幣(bi)追逐太少的商品”。政府可以(yi)通(tong)過控制貨(huo)幣(bi)增長來(lai)遏(e)制通(tong)脹。這被視為現代(dai)經濟理論的一(yi)場革命。
其次，他創立消(xiao)費(fei)函(han)數理(li)論，對凱(kai)恩斯(si)經濟理(li)論中的(de)邊際(ji)消(xiao)費(fei)遞減(jian)規律進(jin)行駁斥(chi)。凱(kai)恩斯(si)認為(wei)，隨著(zhu)社(she)會財(cai)富和個人(ren)收入的(de)增加(jia)(jia)，人(ren)們用于消(xiao)費(fei)方面的(de)支(zhi)出呈遞減(jian)趨勢，與此同時(shi)儲(chu)蓄則越來(lai)越多。因(yin)(yin)此政府可以(yi)通過(guo)增加(jia)(jia)公(gong)共支(zhi)出來(lai)抵消(xiao)個人(ren)消(xiao)費(fei)的(de)減(jian)少，從而保證(zheng)經濟的(de)持續增長。弗(fu)里德(de)曼(man)指出，這一理(li)論站不住腳，因(yin)(yin)為(wei)人(ren)們的(de)欲望實際(ji)上永無止(zhi)境，原有(you)的(de)得到滿足后，新(xin)的(de)隨即產生。
第三，1968年，弗里德曼與美國哥倫(lun)比亞大學(xue)經濟學(xue)家菲爾普(pu)同時(shi)提出“自然(ran)(ran)率(lv)假(jia)說(shuo)”理論。他(ta)們發現，長(chang)期來看(kan)，失業(ye)率(lv)與通貨(huo)膨脹(zhang)并沒有(you)必然(ran)(ran)聯系。自然(ran)(ran)失業(ye)率(lv)永遠存在，是不可(ke)消除的。因此政府的宏觀調控政策長(chang)期來看(kan)是不起任何作(zuo)用的。
1951年：約翰·貝茲(zi)·克拉克獎（John Bates Clark Medal）
1976年：諾(nuo)貝爾經濟學獎
1988年(nian)：國家科學獎章
1988年：總統自(zi)由勛(xun)章(zhang)（Presidential Medal of Freedom）
巧笑倩兮 
