Teaching and Learning

Milton Friedman is beyond question the most famous living economist of the 20th century. He is closely associated with the doctrine of ‘monetarism’ which has been adopted by many governments around the world.

In 1876, Carl Menger, then a young professor at the University of Vienna, was asked to teach the principles of political economy to Crown Prince Rudolf of Austria, the 17 year old only son of Emperor Francis Joseph, who was to die tragic...