His social principle criticized capitalism and became one of many main voices in the progressive period. He vehemently attacked manufacturing for revenue, and gave left-leaning thinkers an alternative choice to Marxism. He saw society as affected by a handful of people who managed the technique of manufacturing at the expense of everyone else.
He advocated for prohibition, world peace, and like many intellectuals of his day, eugenics. He was additionally a founder and the first president of the Econometric Society. If the 20th century was the time of central banking and Keynesian economics, then Milton Friedman was probably the most mainstream different. Friedman defended the free market and is taken into account the main determine behind the Chicago School of Economics. He obtained the John Bates Clark Medal honoring economists under the age of 40, and received the 1976 Nobel Prize in Economics.