He is widely credited for his contribution to modern labour economics and for changing the direction of macro-economic theory1. Friedman made a great impact on the discipline of economics as a monetary theorist, applied econometrician and narrative economic historian. He received the American Economic Associ-ation's John Bates Clark Medal in 1951, the Nobel Prize for Economics in 1976 and the United States' Presidential Medal of Freedom and National Medal for Science in 1988. Milton Friedman was one of the most influential political economists of the twentieth century. Key Words: Economics, Freedom, Neo-Liberalism, Moral parameters, Christian ethics, Ecology, Free market, Capitalism, Consumerism, Milton Friedman The third section offers some key ethical principles that may help to reform modern capitalism. The second section attempts to provide an ethical critique on Friedman's separation between economics and ethics, his concept of the market, his views on freedom and equality and the implications of his economic doctrine for human identity. The first section discusses his perspectives on the relation between capitalism and freedom, the nature of markets, his understanding of equality and of the social responsibility of business. This essay focuses on Friedman's views on politics, economics and freedom. Many of the neo-liberal views that he advocated were adopted in the 1980's by Western countries such as Britain and the United States. Abstract: Milton Friedman was one of the most influential economists of the twentieth century.
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