Nobel prize winning economist, Milton Friedman, is considered one of the most influential economists of the 20th century. He was also a huge champion of liberty, spreading the message of free markets and voluntary exchange to millions with his books “Capitalism and Freedom,” and “Free to Choose.”
Not only did Friedman contribute much to the science of economics, he also amazingly predicted the internet’s massive influence on our way of life, including commercial transactions.
Friedman knew something as revolutionary as the internet would eventually be utilized by profit seeking individuals in the marketplace. He was no slouch in his knowledge of monetary history and policy, so we shouldn’t be surprised when he anticipated the rise of an internet currency like Bitcoin. However, it’s still exciting to see the economist predict the e-cash more than a decade before its creation. Unfortunately, Milton didn’t live to see his prediction come to fruition.