Milton Friedman
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is known as one of the top economists in the world. He
has a Ph. D. from Columbia University, won a Noble Memorial Prize in economics
and has also been awarded many honorary degrees by other Universities in the
United States. As you can tell, has played a significant part in
helping to solve th ....
Middle of paper
.... their
earnings as usual. This means there is a circular flow of money in the economy,
as my spending becomes part of your earnings, and your spending becomes part of
my earnings. Suppose something happens to alter consumers confidence in the
economy. Worried consumers may then try to weather the coming economic hardship
by saving their money, but because my spending is part of your earnings, my
decision to hoard money makes things worse for you and you, responding to your
own difficult ti ....
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Word count: 1035
Page count: 4 (approximately 250 words per page)
