Answer:
Milton Friedman was an economist from the Chicago School who was known mainly for two ideas: the monetarist view of inflation, and his support for free market policies.
Explanation:
As previously explained, Friedman was also a promoter of free market policies, and Reagan was a president that supported free market. Friedman supported lowering taxes to corporations, the wealthy, and the middle class, reducing regulations to businesses, and signing free trade agreements or reducing tariffs.
These were all policies that Reagan supported. He managed to cut taxes and regulations. He was less succesful in promoting free trade, but his successors: George Bush Father, Bill Clinton, and George Bush Son, also supported many of the views that Milton Friedman had.
The ideas of Milton Friedman that reflected in the policies of Ronald Reagan was the tightening of money supply in order to cause a decrease in inflation.
Milton Friedman had a lot of ideas on monetarism. He talked about the role of the government in terms of the money supply that is in the economy.
According to him the government of a country should be the body that is in charge of regulating the supply of money that is in the economy.
This is evident in Reagan's policy where he decreased the supply of money that was in the economy in order to cause a fall in the inflation that is in the nation.
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