What is Milton Friedman's central economic theory?
My central thesis revolves around the power of free markets and the dangers of government intervention. I argued that individual freedom and economic prosperity are intertwined. Through monetarism, I stressed the importance of a stable and predictable monetary policy, suggesting that erratic changes in the money supply are often the cause of economic instability, not the absence of regulation. The 'invisible hand' of the market, guided by self-interest and competition, tends to produce better outcomes than central planning.
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