Today is Milton Friedman's 101st Birthday. He was one of the most influential economists in the world who doggedly advocated the introduction of free market capitalism across the world in order to make people better off. He noted that the best thing for the state to do was to retreat from public life as much as possible. With such economic arguments the holes in Communism and Socialism were easily pointed out.
Long live the Free Market Economy.
He also pointed out the one big killer in holding back economies and thus people's lives, inflation. His ideas were a great influence upon the thinking of President Reagan and Margaret Thatcher. Both of them followed a policy of monetarism which aimed to cut inflation by cutting the supply of money, a policy which saw Britain lead the world.