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Friedman, Milton

An American economist of the twentieth century. Friedman has defended free enterprise and attacked government regulation of the economy. He has condemned socialism as an economic failure and celebrated capitalism for combining prosperity with personal liberty. (See also monetarism.)

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The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.