Rare Nobel Lecture Inscribed by Milton Friedman

  • Milton Friedman Signed Nobel Lecture.

Milton Friedman Signed Nobel Lecture.

$975.00

Item Number: 78493

Stockholm: Nobel Foundation, 1977.

Rare example of the Nobel Lecture of Milton Friedman, inscribed by the Nobel Prize-winning economist. Four pages, stapled in the upper left corner, inscribed by Milton Friedman on the first page, “For Dan Dee Milton Friedman.” American economist Milton Friedman received the Nobel Memorial Prize in Economic Sciences in 1976 “for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy.” In fine condition. A nice example illustrating the progression of the great economist’s career in his own words.

Friedman himself referred to his work on the consumption function as his best scientific work. Based on his permanent income hypothesis developed in 1957, the work contended that a person's consumption at a point in time is determined not just by their current income but also by their expected income in future years—their "permanent income". The model had a profound effect on the study of consumer behavior and a lasting effect on both economic theory and empirical research. Friedman's Nobel Lecture concisely covers the progression of his involvement in the study and development of economic theory, including his first encounter with and marriage to wife and collaborator Rose Friedman and the many important relationships he developed with colleagues, professors, and his own students throughout his career.

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