Milton Friedman (1912-2006) was an influential American economist and a leading figure in the Chicago School of economics. Known for his advocacy of free-market capitalism and monetarism, Friedman won the Nobel Prize in Economics in 1976 for his research on consumption analysis, monetary history, and theory. His popular book "Capitalism and Freedom" became a classic in economic literature, emphasizing the importance of limited government intervention in economic affairs. Friedman's teachings have had a profound impact on economic policy worldwide.