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Essay from the year 2006 in the subject Economics - Monetary theory and policy, grade: 1,3, Charles University in Prague, language: English, abstract: Milton Friedman is, without a doubt, one of the most influential economists of all times. Born on 31 July 1912, in New York, he graduated at the University of Chicago and later he served there as Professor of Economics. His research in the field of economics brought him a number of awards,including the Nobel Prize in Economics in 1976,"'for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policyMilton Friedman died on 16 November 2006. January 29th 2007, was declared as Milton Friedman day, honoring his achievements and his influence over the modern economic policy. Milton Friedman's scholarly contributions are numerous, but the most important are: the critique of the Phillips curve and the introduction of the natural rate of unemployment; the permanent income hypothesis; the stable link between inflation and money supply; the monetarist school of economic thought, and many more, including the revival of the quantity theory of money, the main topic of this paper.