For 10 points, name this advocate of a floating exchange rate, the author of Capitalism and Freedom who led the Chicago School of Economics.
This man argued that business cycles should be ignored when analyzing monetary policy with his "k-percent" rule. According to him, high medical costs result from state licensing procedures' creating entry barriers. This man proposed that economic decisions are not based on current income but instead on expected future income in his permanent income hypothesis. Along with Edmund Phelps, this predictor of stagflation outlined the "natural rate of unemployment," and he coauthored Free to Choose with his wife. For 10 points, name this advocate of a floating exchange rate, the author of Capitalism and Freedom who led the Chicago School of Economics.
This man argued that business cycles should be ignored when analyzing monetary policy with his "k-percent" rule.
Milton Friedman