This man also posited that consumers base their economic decisions on [*] expected future income rather than current income in his "permanent income hypothesis."
This man argued that state-licensing requirements restricted entry into the medical field, inflating doctors' salaries. He proposed that Keynesian economics cause stagflation in a work he wrote with his wife entitled Free to Choose. He also suggested the people always spend the same percentage of their income on consumption in A Theory of the Consumption Function. This man also posited that consumers base their economic decisions on [*] expected future income rather than current income in his "permanent income hypothesis." For 10 points, identify this Chicago school economist who authored A Monetary History of the United States and Capitalism and Freedom.
This man argued that state-licensing requirements restricted entry into the medical field, inflating doctors' salaries.
Milton {Friedman}