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News Brief

November 17, 2006
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Nobel Prize-winning economist Milton Friedman died at 94. He succumbed to heart failure in San Francisco on Thursday. Born in New York City to Jewish immigrants from what is now Ukraine, Friedman was the youngest of four children. Friedman helped found the Chicago school of economics, which believed that government should have a reduced role in the economy, outside of regulating the monetary supply to control inflation.

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