弗(fu)里(li)(li)德(de)曼(man)(man)生于紐約市一(yi)(yi)(yi)個(ge)工人(ren)階(jie)級的(de)猶太人(ren)家庭，父(fu)親是(shi)(shi)耶諾·紹爾·弗(fu)里(li)(li)德(de)曼(man)(man)（Jeno Saul Friedman），母親是(shi)(shi)薩拉·埃特(te)爾·蘭道（Sarah Ethel Landau，1892年-？），兩人(ren)從奧匈帝國(guo)（今烏克蘭一(yi)(yi)(yi)帶）移居美國(guo)，在當地邂(xie)逅，曾在血(xue)汗(han)工廠(chang)工作。弗(fu)里(li)(li)德(de)曼(man)(man)是(shi)(shi)家中第一(yi)(yi)(yi)個(ge)孩(hai)子，也是(shi)(shi)唯一(yi)(yi)(yi)的(de)男孩(hai)。他的(de)三個(ge)妹妹包括(kuo)：蒂莉(li)·F·弗(fu)里(li)(li)德(de)曼(man)(man)（Tillie F. Friedman，1919年-？）、海倫·弗(fu)里(li)(li)德(de)曼(man)(man)（Helen Friedman，1920年-？）和露絲·弗(fu)里(li)(li)德(de)曼(man)(man)（Ruth Friedman，1921年-？）。高(gao)中時，弗(fu)里(li)(li)德(de)曼(man)(man)父(fu)親逝世后，舉家搬到新澤西(xi)州的(de)羅威市（Rahway）。
他(ta)16歲前(qian)完(wan)成高(gao)中，憑獎學(xue)金(jin)入讀(du)羅格(ge)斯(si)(si)大(da)(da)學(xue)。原打(da)算(suan)成為精算(suan)師的(de)弗(fu)里(li)德曼最初修(xiu)讀(du)數學(xue)，但成績平平。1932年(nian)取得文學(xue)士，翌年(nian)他(ta)到芝(zhi)加哥大(da)(da)學(xue)修(xiu)讀(du)碩士，1933年(nian)芝(zhi)大(da)(da)碩士畢(bi)業。上第一(yi)堂經(jing)濟課(ke)時，座位是以姓氏字母(mu)編排(pai)，他(ta)緊隨一(yi)名叫羅斯(si)(si)（Rose Director）的(de)女(nv)生之(zhi)后。兩人6年(nian)后結婚(hun)，從此終生不渝。弗(fu)里(li)德曼曾說他(ta)的(de)作品(pin)無一(yi)不被(bei)羅斯(si)(si)審(shen)閱，更笑言自己成為學(xue)術(shu)權(quan)威(wei)后，羅斯(si)(si)是唯一(yi)膽敢跟他(ta)辯論的(de)人.
畢業后(hou)，他曾為(wei)羅斯福新政工作以求(qiu)糊(hu)口，批準了許多早期的新政措施以解決當時面臨的艱難(nan)經(jing)濟(ji)情況，尤其(qi)是新政的許多公共(gong)建設(she)計(ji)(ji)劃。輾轉間他到哥倫比亞(ya)大學繼(ji)續修讀經(jing)濟(ji)學，研究計(ji)(ji)量(liang)、制度及實踐(jian)經(jing)濟(ji)學。返回芝加哥后(hou)，獲亨利·舒爾茨（Henry Schultz）聘(pin)任為(wei)研究助理(li)，協助完成《需求(qiu)理(li)論及計(ji)(ji)算(suan)》論文。為(wei)美國國家經(jing)濟(ji)研究局(ju)工作時，他1940年(nian)曾完成一書，指(zhi)醫生的壟斷局(ju)面導致他們的收(shou)入遠高(gao)于牙(ya)醫，引起局(ju)方爭議，令該書要(yao)在(zai)戰后(hou)始能出版。
弗里德曼在威斯康辛(xin)大學任教了(le)一小(xiao)段時間，但(dan)由于在經濟學系里碰上了(le)反猶主義者的阻撓而(er)只得返回政(zheng)府部門工作(zuo)。
1941年至1943年，他出任美國財政部顧問，研究(jiu)戰(zhan)時稅務政策(ce)，曾支持(chi)凱恩(en)斯主(zhu)義的(de)稅賦政策(ce)，并且協助推廣預扣所得(de)稅制度。1943年至1945年在哥倫比亞大(da)學(xue)(xue)(xue)參(can)與(yu)Harold Hotelling及W. Allen Wallis的(de)研究(jiu)小(xiao)組，為(wei)(wei)武器設計、戰(zhan)略及冶金實(shi)驗分析數據(ju)。1945年，他與(yu)后(hou)來的(de)諾貝爾經濟(ji)學(xue)(xue)(xue)獎得(de)主(zhu)喬治(zhi)·斯蒂格勒到明尼蘇達大(da)學(xue)(xue)(xue)任職，1946年他獲哥倫比亞大(da)學(xue)(xue)(xue)博士(shi)學(xue)(xue)(xue)位，隨后(hou)回(hui)到芝(zhi)加哥大(da)學(xue)(xue)(xue)教授經濟(ji)理(li)論，期間再為(wei)(wei)國家經濟(ji)研究(jiu)局研究(jiu)貨(huo)幣在商業(ye)周期的(de)角色。這是他學(xue)(xue)(xue)術上的(de)重大(da)分水嶺。
在他(ta)的自傳中，弗(fu)里德曼曾描述1941至43年(nian)為羅斯福新政(zheng)工(gong)作(zuo)(zuo)時(shi)，“當時(shi)我是一個徹底的凱恩斯主義者”。隨著時(shi)間(jian)過(guo)去，弗(fu)里德曼對于經濟(ji)政(zheng)策(ce)(ce)的看法(fa)也(ye)逐漸轉變，他(ta)在芝大成立貨幣(bi)(bi)及(ji)銀行研究(jiu)小(xiao)組(zu)，借著經濟(ji)史論家安娜·施瓦茨(ci)的協助，發(fa)表影響深遠(yuan)的《美國貨幣(bi)(bi)史》著作(zuo)(zuo)。他(ta)在書(shu)中挑戰凱恩斯學(xue)派的觀點(dian)，抨(peng)擊(ji)他(ta)們(men)忽略貨幣(bi)(bi)供應、金融政(zheng)策(ce)(ce)對經濟(ji)周期及(ji)通脹(zhang)的重要性(xing)。
他(ta)接著在(zai)芝(zhi)(zhi)(zhi)加哥大(da)學(xue)擔任經(jing)(jing)(jing)濟學(xue)教授，直至1976年(nian)(nian)(nian)(nian)退休(xiu)。這30年(nian)(nian)(nian)(nian)里(li)他(ta)將芝(zhi)(zhi)(zhi)大(da)經(jing)(jing)(jing)濟系形塑成緊(jin)密而完整(zheng)的經(jing)(jing)(jing)濟學(xue)派，力倡(chang)自由經(jing)(jing)(jing)濟，被稱為芝(zhi)(zhi)(zhi)加哥經(jing)(jing)(jing)濟學(xue)派。在(zai)弗(fu)(fu)(fu)里(li)德(de)曼(man)(man)的領導下，多名芝(zhi)(zhi)(zhi)加哥學(xue)派的成員獲得諾貝爾經(jing)(jing)(jing)濟學(xue)獎。他(ta)在(zai)1953年(nian)(nian)(nian)(nian)至1954年(nian)(nian)(nian)(nian)間以訪(fang)問(wen)學(xue)者的身分(fen)前往英國(guo)劍(jian)橋大(da)學(xue)岡維(wei)爾與凱斯學(xue)院(yuan)任教。從1977年(nian)(nian)(nian)(nian)開始(shi)弗(fu)(fu)(fu)里(li)德(de)曼(man)(man)也加入了斯坦福大(da)學(xue)的胡佛研究所。弗(fu)(fu)(fu)里(li)德(de)曼(man)(man)在(zai)1988年(nian)(nian)(nian)(nian)取(qu)得了美國(guo)的國(guo)家科學(xue)獎章。
他(ta)在1980主持(chi)了(le)名為“選擇(ze)的(de)自(zi)由(you)”的(de)節(jie)目(mu)，并出版了(le)同名的(de)著(zhu)作，使得他(ta)廣泛的(de)被大(da)眾認(ren)識。在節(jie)目(mu)中他(ta)以一支鉛筆說明(ming)自(zi)由(you)市(shi)場的(de)原理的(de)片段，成為了(le)他(ta)廣受歡迎的(de)一段言論(lun)，至今在網絡上依然可以見到其(qi)蹤影。
他(ta)通常反對(dui)(dui)政(zheng)府干預的(de)(de)(de)(de)計劃，尤其(qi)是(shi)對(dui)(dui)于市場價格(ge)的(de)(de)(de)(de)管(guan)制，他(ta)認為(wei)價格(ge)在(zai)市場機(ji)(ji)制里扮(ban)演調度(du)資(zi)(zi)源(yuan)所不(bu)可或缺的(de)(de)(de)(de)信(xin)號功能。在(zai)《美國貨幣歷史》一書中，他(ta)提出大蕭條(tiao)其(qi)實是(shi)政(zheng)府對(dui)(dui)于貨幣供應管(guan)制不(bu)當(dang)所致。后來他(ta)在(zai)2006年說道：“你(ni)知道嗎？很(hen)奇怪的(de)(de)(de)(de)是(shi)為(wei)何人(ren)們仍以為(wei)是(shi)羅斯福的(de)(de)(de)(de)政(zheng)策讓(rang)我們脫(tuo)離了經(jing)濟大蕭條(tiao)。當(dang)時(shi)的(de)(de)(de)(de)問(wen)題是(shi)，你(ni)有一堆失業的(de)(de)(de)(de)機(ji)(ji)器和(he)失業的(de)(de)(de)(de)人(ren)民，你(ni)怎(zen)么能靠著(zhu)成立(li)產業壟斷集團和(he)提升價格(ge)及(ji)工資(zi)(zi)來解決他(ta)們的(de)(de)(de)(de)問(wen)題？”
1992年獲諾貝爾(er)經濟獎的(de)(de)(de)加里·貝克形容，弗里德曼可能(neng)(neng)是全球最為人認識(shi)的(de)(de)(de)經濟學(xue)家，“他能(neng)(neng)以最簡單的(de)(de)(de)語言表達最艱深(shen)的(de)(de)(de)經濟理論”。他亦是極(ji)出色的(de)(de)(de)演說(shuo)(shuo)家，能(neng)(neng)隨(sui)時即席演說(shuo)(shuo)，極(ji)富說(shuo)(shuo)服力。香港(gang)科(ke)技(ji)大學(xue)經濟發展研究(jiu)中(zhong)心(xin)主任雷鼎鳴形容弗里德曼思考(kao)快如閃電(dian)，據說(shuo)(shuo)辯論從未輸過(guo)(guo)。“無人敢說(shuo)(shuo)辯贏了他，因與他辯論過(guo)(guo)已(yi)是無限光榮，沒多(duo)少人能(neng)(neng)與他說(shuo)(shuo)上兩分(fen)鐘。”
弗(fu)里德曼(man)(man)是(shi)(shi)(shi)學術(shu)世家(jia)。他(ta)妻子羅絲是(shi)(shi)(shi)經濟學家(jia)，其妻兄長亞(ya)倫(lun)·戴(dai)雷科特(te)是(shi)(shi)(shi)芝加哥大(da)(da)學聲望顯赫的(de)法(fa)律學教授。弗(fu)里德曼(man)(man)育有兩(liang)名子女(nv)，包括女(nv)兒珍尼·弗(fu)里德曼(man)(man)及大(da)(da)衛(wei)·弗(fu)里德曼(man)(man)，大(da)(da)衛(wei)本身是(shi)(shi)(shi)無(wu)政府(fu)資本主義學說的(de)重(zhong)要學者。大(da)(da)衛(wei)的(de)兒子Patri畢(bi)業于(yu)斯坦福大(da)(da)學，2006年時在(zai)Google任職(zhi)。
他(ta)于2006年11月16日在舊金(jin)山家中因心(xin)臟病(bing)發引致衰竭逝世。
"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(li)德曼(man)的(de)博士(shi)論文(wen)
"Lange on Price Flexibility and Employment: A Methodological Criticism," American Economic Review Vol. 36, No. 4 (Sep., 1946), pp. 613-631 JSTOR
"Utility Analysis of Choices Involving Risk" with Leonard Savage, 1948, Journal of Political Economy Vol. 56, No. 4 (Aug., 1948), pp. 279-304 JSTOR
"A Monetary and Fiscal Framework for Economic Stability", 1948, American Economic Review, Vol. 38, No. 3 (Jun., 1948), pp. 245-264 JSTOR
"A Fiscal and Monetary Framework for Economic Stability," Econometrica Vol. 17, Supplement: Report of the Washington Meeting (Jul., 1949), pp. 330-332 JSTOR
"The Marshallian Demand Curve," The Journal of Political Economy Vol. 57, No. 6 (Dec., 1949), pp. 463-495 JSTOR
"Wesley C. Mitchell as an Economic Theorist," The Journal of Political Economy Vol. 58, No. 6 (Dec., 1950), pp. 465-493 JSTOR
"Some Comments on the Significance of Labor Unions for Economic Policy", 1951, in D. McC. Wright, editor, The Impact of the Union.
"Commodity-Reserve Currency," Journal of Political Economy Vol. 59, No. 3 (Jun., 1951), pp. 203-232 JSTOR
"Price, Income, and Monetary Changes in Three Wartime Periods," American Economic Review Vol. 42, No. 2, Papers and Proceedings of the Sixty-fourth Annual Meeting of the American Economic Association (May, 1952), pp. 612-625 JSTOR
"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)
Essays in Positive Economics (1953)
"Choice, Chance, and the Personal Distribution of Income," Journal of Political Economy Vol. 61, No. 4 (Aug., 1953), pp. 277-290 JSTOR
"The Quantity Theory of Money: A restatement", 1956, in Friedman, editor, Studies in Quantity Theory.
A Theory of the Consumption Function (1957)
"A Statistical Illusion in Judging Keynesian Models" with Gary S. Becker, Journal of Political Economy Vol. 65, No. 1 (Feb., 1957), pp. 64-75 JSTOR
"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
"Monetary Data and National Income Estimates," Economic Development and Cultural Change Vol. 9, No. 3, (Apr., 1961), pp. 267-286 JSTOR
"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
"The Interpolation of Time Series by Related Series," Journal of the American Statistical Association Vol. 57, No. 300 (Dec., 1962), pp. 729-757 JSTOR
"Should There be an Independent Monetary Authority?", in L.B. Yeager, editor, In Search of a Monetary Constitution
Inflation: Causes and consequences, 1963.
"Money and Business Cycles," The Review of Economics and Statistics Vol. 45, No. 1, Part 2, Supplement (Feb., 1963), pp. 32-64 JSTOR
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
The Balance of Payments: Free Versus Fixed Exchange Rates with Robert V. Roosa (1967)]
"The Monetary Theory and Policy of Henry Simons," Journal of Law and Economics Vol. 10 (Oct., 1967), pp. 1-13 JSTOR
"What Price Guideposts?", in G.P. Schultz, R.Z. Aliber, editors, Guidelines
"The Role of Monetary Policy." American Economic Review, Vol. 58, No. 1 (Mar., 1968), pp. 1-17 JSTOR presidential address to American Economics Association
"Money: the Quantity Theory", 1968, IESS
"The Definition of Money: Net Wealth and Neutrality as Criteria" with Anna J. Schwartz, Journal of Money, Credit and Banking Vol. 1, No. 1 (Feb., 1969), pp. 1-14 JSTOR
'Monetary vs. Fiscal Policy with Walter W. Heller (1969)
"Comment on Tobin", 1970, Quarterly Journal of Economics
"Monetary Statistics of the United States: Sources, methods. with Anna J. Schwartz, 1970.
"A Theoretical Framework for Monetary Analysis," Journal of Political Economy Vol. 78, No. 2 (Mar., 1970), pp. 193-238 JSTOR
The Counter-Revolution in Monetary Theory 1970.
"A Monetary Theory of National Income", 1971, Journal of Political Economy
"Government Revenue from Inflation," Journal of Political Economy Vol. 79, No. 4 (Jul., 1971), pp. 846-856 JSTOR
"Have Monetary Policies Failed?" American Economic Review Vol. 62, No. 1/2 (1972), pp. 11-18 JSTOR
"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)
Milton Friedman's Monetary Framework: A Debate with His Critics (1975)
"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
"Monetary Policy: Theory and Practice," Journal of Money, Credit and Banking Vol. 14, No. 1 (Feb., 1982), pp. 98-118 JSTOR
"Monetary Policy: Tactics versus strategy", 1984, in Moore, editor, To Promote Prosperity.
“Lessons from the 1979-1982 Monetary Policy Experiment, ” Papers and Proceedings, American Economic Association. pp. 397-401. (1984).
"Has Government Any Role in Money?" with Anna J. Schwartz, 1986, JME
"Quantity Theory of Money", in J. Eatwell, M. Milgate, P. Newman, eds., The New Palgrave (1998)
"Money and the Stock Market," Journal of Political Economy Vol. 96, No. 2 (Apr., 1988), pp. 221-245 JSTOR
"Bimetallism Revisited," Journal of Economic Perspectives Vol. 4, No. 4 (Autumn, 1990), pp. 85-104 JSTOR
"The Crime of 1873," Journal of Political Economy Vol. 98, No. 6 (Dec., 1990), pp. 1159-1194 JSTOR
"Franklin D. Roosevelt, Silver, and China," Journal of Political Economy Vol. 100, No. 1 (Feb., 1992), pp. 62-83 JSTOR
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.
《實證經濟學(xue)論(lun)文集》（Essays in Positive Economics）
《消費函數理論》（A Theory of the Consumption Function）
《資(zi)本主義與自由》（Capitalism and Freedom）
《自由選(xuan)擇》（Free to Choose）
《價(jia)格理(li)論》（Price Theory：A Provisional Text）
《美國貨(huo)幣史(shi)》（A Monetary History of the United States，1867一(yi)1960）與施(shi)瓦茲(zi)（Anna J.Schwartz）
弗(fu)(fu)里德(de)曼(man)(man)最知名的(de)(de)(de)(de)(de)(de)(de)理論(lun)，是(shi)(shi)(shi)(shi)(shi)他(ta)提出(chu)的(de)(de)(de)(de)(de)(de)(de)貨幣(bi)供(gong)給作(zuo)為決定(ding)生產(chan)價(jia)值基(ji)準(zhun)的(de)(de)(de)(de)(de)(de)(de)因(yin)素，通貨膨脹在根(gen)本上(shang)源自于貨幣(bi)供(gong)給量的(de)(de)(de)(de)(de)(de)(de)主張。貨幣(bi)主義(yi)是(shi)(shi)(shi)(shi)(shi)現(xian)(xian)代(dai)經(jing)(jing)濟學(xue)(xue)在貨幣(bi)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(zhong)理論(lun)的(de)(de)(de)(de)(de)(de)(de)根(gen)源可以追溯至16世紀西班牙的(de)(de)(de)(de)(de)(de)(de)薩拉(la)曼(man)(man)卡學(xue)(xue)派(pai)，弗(fu)(fu)里德(de)曼(man)(man)的(de)(de)(de)(de)(de)(de)(de)貢獻則是(shi)(shi)(shi)(shi)(shi)現(xian)(xian)代(dai)化(hua)了(le)這(zhe)種(zhong)理論(lun)，將(jiang)其推(tui)(tui)廣為現(xian)(xian)代(dai)經(jing)(jing)濟學(xue)(xue)的(de)(de)(de)(de)(de)(de)(de)主流(liu)貨幣(bi)學(xue)(xue)說。他(ta)在1963年與(yu)Anna Schwartz合著的(de)(de)(de)(de)(de)(de)(de)A Monetary History of the United States一(yi)書中(zhong)檢驗了(le)美國(guo)歷史上(shang)貨幣(bi)供(gong)給和(he)經(jing)(jing)濟活(huo)動之(zhi)間(jian)的(de)(de)(de)(de)(de)(de)(de)關聯(lian)。他(ta)們得出(chu)了(le)驚人結論(lun)：貨幣(bi)供(gong)給一(yi)向(xiang)是(shi)(shi)(shi)(shi)(shi)經(jing)(jing)濟活(huo)動起伏的(de)(de)(de)(de)(de)(de)(de)唯一(yi)影(ying)響來源。又(you)或者(zhe)如(ru)同美國(guo)聯(lian)邦儲(chu)備(bei)系(xi)統的(de)(de)(de)(de)(de)(de)(de)主席本·伯南克(ke)在2002年慶祝弗(fu)(fu)里德(de)曼(man)(man)90歲生日時所描(miao)述的(de)(de)(de)(de)(de)(de)(de)：“有關大蕭條，你是(shi)(shi)(shi)(shi)(shi)正確的(de)(de)(de)(de)(de)(de)(de)，我們（聯(lian)邦儲(chu)備(bei)系(xi)統）當(dang)時的(de)(de)(de)(de)(de)(de)(de)確做錯了(le)。我們真的(de)(de)(de)(de)(de)(de)(de)很抱(bao)歉。”David Meiselman在1960年代(dai)進行的(de)(de)(de)(de)(de)(de)(de)幾(ji)次(ci)研(yan)究(jiu)顯示了(le)貨幣(bi)供(gong)給在決定(ding)經(jing)(jing)濟投資、以及政府開銷在決定(ding)消費及生產(chan)總額上(shang)的(de)(de)(de)(de)(de)(de)(de)角色是(shi)(shi)(shi)(shi)(shi)至高無上(shang)的(de)(de)(de)(de)(de)(de)(de)。弗(fu)(fu)里德(de)曼(man)(man)的(de)(de)(de)(de)(de)(de)(de)觀(guan)察研(yan)究(jiu)和(he)一(yi)些學(xue)(xue)說進一(yi)步(bu)推(tui)(tui)展了(le)這(zhe)種(zhong)結論(lun)，主張貨幣(bi)供(gong)給的(de)(de)(de)(de)(de)(de)(de)改(gai)變是(shi)(shi)(shi)(shi)(shi)影(ying)響經(jing)(jing)濟生產(chan)的(de)(de)(de)(de)(de)(de)(de)首要原因(yin)，但長期的(de)(de)(de)(de)(de)(de)(de)影(ying)響則是(shi)(shi)(shi)(shi)(shi)由物價(jia)水平決定(ding)的(de)(de)(de)(de)(de)(de)(de)。
弗(fu)里德曼對(dui)于消費層面的分析也相當知(zhi)名，亦(yi)即他(ta)(ta)在(zai)1957年(nian)提出(chu)的恒常所(suo)得假說。這(zhe)個理論被一些(xie)經濟學(xue)者視(shi)為是他(ta)(ta)在(zai)經濟學(xue)方(fang)法論上(shang)最重(zhong)要的貢獻。他(ta)(ta)其他(ta)(ta)重(zhong)要的貢獻還(huan)包括了(le)對(dui)菲利(li)普(pu)斯(si)曲線的批評，以及(ji)他(ta)(ta)提出(chu)的失業率(lv)(lv)的自然比率(lv)(lv)的概(gai)念（1968年(nian)）。這(zhe)些(xie)學(xue)說都與貨(huo)幣和金融(rong)政策在(zai)對(dui)經濟的長期(qi)及(ji)短期(qi)影響上(shang)有(you)關。在(zai)統計學(xue)上(shang)，他(ta)(ta)則(ze)創造出(chu)了(le)知(zhi)名的弗(fu)里德曼測試。
弗里(li)德曼的論(lun)文The Methodology of Positive Economics（1953年）則替他(ta)稍(shao)后幾十年的研(yan)究方(fang)法論(lun)架構了模型，并且也成(cheng)為(wei)(wei)了芝加哥經濟(ji)學派的主要框架之一(yi)。他(ta)主張經濟(ji)學身為(wei)(wei)一(yi)種學科(ke)，應該(gai)(gai)免于客觀的價(jia)值衡(heng)量(liang)。除此之外，一(yi)個經濟(ji)理論(lun)有(you)用與(yu)否，不應該(gai)(gai)是(shi)以它(ta)對現實的描述（例如頭發顏(yan)色）作為(wei)(wei)衡(heng)量(liang)標準(zhun)，而是(shi)應該(gai)(gai)以它(ta)能否有(you)效作為(wei)(wei)對未來情(qing)況(kuang)的預測為(wei)(wei)基準(zhun)。
弗(fu)里德曼在理論(lun)上有三大貢獻，首先是提出現(xian)代貨幣(bi)(bi)數量論(lun)，即通貨膨脹起源于“太多的貨幣(bi)(bi)追逐太少的商品”。政府(fu)可以(yi)通過控制(zhi)貨幣(bi)(bi)增長(chang)來遏制(zhi)通脹。這(zhe)被視為現(xian)代經濟理論(lun)的一(yi)場革命。
其次，他創立(li)消(xiao)費函數理論，對(dui)凱恩斯經濟理論中的邊際(ji)消(xiao)費遞減規(gui)律進行(xing)駁斥。凱恩斯認為，隨著社會財(cai)富和個(ge)人(ren)收入的增(zeng)加，人(ren)們(men)用于消(xiao)費方面的支出(chu)呈(cheng)遞減趨勢，與(yu)此同時(shi)儲蓄則(ze)越(yue)來越(yue)多。因此政府可以通過增(zeng)加公共(gong)支出(chu)來抵消(xiao)個(ge)人(ren)消(xiao)費的減少，從而保證(zheng)經濟的持(chi)續(xu)增(zeng)長。弗里德曼(man)指出(chu)，這一理論站不住腳(jiao)，因為人(ren)們(men)的欲望實際(ji)上(shang)永無(wu)止境，原有的得(de)到(dao)滿足(zu)后，新的隨即產生。
第三(san)，1968年，弗里德曼與(yu)美國哥倫比亞大(da)學經濟學家菲爾普同時提出“自(zi)然(ran)(ran)率(lv)假說”理論。他們(men)發現，長期來看(kan)，失業(ye)率(lv)與(yu)通貨膨脹并沒有必(bi)然(ran)(ran)聯系。自(zi)然(ran)(ran)失業(ye)率(lv)永(yong)遠存在，是(shi)不可(ke)消(xiao)除的。因此政府(fu)的宏觀(guan)調控政策長期來看(kan)是(shi)不起任何作用的。
1951年：約(yue)翰·貝茲·克拉克獎（John Bates Clark Medal）
1976年：諾貝爾經濟學獎
1988年(nian)：國家科學獎章
1988年：總統自(zi)由(you)勛章（Presidential Medal of Freedom）
巧笑倩兮 
