Milton Friedman (1912-2006), a Nobel Prize winning economist, specialized in consumption theory, monetary policy, and stabilization policy. Early in his career he was a Keynesian, but he never advocated wage and price controls. In fact, he has been called the first counterrevolutionary against Keynesianism. He endorsed a macroeconomic policy which became known as monetarism. He believed in a natural rate of unemployment which governments could modulate at the risk of inflation. He objected to a good deal of government regulation, and favored free market economics. In his seminal work, “Capitalism and Freedom,” he called for floating exchange rates, a voluntary military, negative income tax, education vouchers, and abolition of medical licenses!