Milton Friedman on Economics Book Now Available

Upon his death in the autumn of 2006, Milton Friedman was lauded as “the grandmaster of free-market economic theory in the postwar era” by The New York Times and “the most influential economist of the second half of the twentieth century” by The Economist. Winner of the Nobel Prize in Economics in 1976, Friedman was both a highly respected economist and a prominent public intellectual, the leader of a revolution in economic and political thought that argued robustly in favor of the virtues of free markets and laissez-faire policies.

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Featured in Slate.com
" You're Saving Enough for Retirement (Probably)
" June 14, 2008
Are Americans Saving “Optimally” for Retirement?
John Karl Scholz, Ananth Seshadri, and Surachai Khitatrakun
"An admired analysis of retirement saving was published in 2006 in the Journal of Political Economy by John Karl Scholz and two colleagues...They concluded that more than 80 percent of Americans seemed to be on track to retire with enough money in the bank; the remainder were mostly not far short of sensible savings."

Featured in National Public Radio
"Thank You for Advertising" August 10, 2007
Private Profits and Public Health: Does Advertising of Smoking Cessation Products Encourage Smokers to Quit?

ROSEMARY AVERY
DONALD KENKEL
DEAN R. LILLARD
ALAN MATHIOS

We study the impact of smoking cessation product advertising. To measure potential exposure, we link survey data on magazine-reading habits and smoking behavior with an archive of print advertisements. We find that smokers who are exposed to more advertising are more likely to attempt to quit and to successfully quit. While some increased quitting involves product purchases, we find that product advertisements also prompt cold turkey quitting. Identifying the causal impact of advertising is difficult because advertisers target consumers. Although reverse causality could bias our estimates upward, our baseline results are not sensitive to a series of checks.