Monday, 12 April 2010

The Milton Friedman Effect on the Currency Futures Market

Milton Friedman was an American economist born in New York and economic advisor to Ronald Reagan. He has done a lot of work on monetary policy and stabilisation (including rethinking the Phillip's Curve) and co-invention of currency futures, introduced by the CME in 1972. Friedman was paid $7,500 for a feasibility study on "The Need for a Futures Market in Currencies."

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