The Friedman universe is re-examined in a context that is non-standard only in that the properties of matter are postulated in the form of an action principle. Applications to equilibrium configurations of ideal stars have already been reported. In this paper we apply the same theory to a fresh examination of the Friedman universe. The results agree with standard theory in the case of low densi...

An Overview of the Molecular Basis of Epigenetics J. David Sweatt,1 Eric J. Nestler,2 Michael J. Meaney3 and Schahram Akbarian4 1McKnight Brain Institute, Department of Neurobiology, University of Alabama at Birmingham, Birmingham, Alabama, USA 2Fishberg Department of Neuroscience, Friedman Brain Institute, Mount Sinai School of Medicine, New York, New York, USA 3Departments of Psychiatry, Neur...

We study optimal monetary policy in a NewMonetarist framework with banking, private liquidity, and credit frictions.We show that whenever part of the decentralized transactions are allowed to use deposit claims backed by interest-bearing assets, the optimal policy is a non-Friedman-rule liquidity trap. In contrast, the Friedman rule is optimal if there are no credit frictions, or if the economy...

Recent empirical research found that the strong short-term relationship between monetary aggregates and US real output and inflation, as outlined in the classical study by M. Friedman and Schwartz, mostly disappeared since the early 1980s. In the light of the B. Friedman and Kuttner (1992) information value approach, we reevaluate the vanishing relationship between US monetary aggregates and th...

In this paper we study the inefficiencies of the monetary equilibrium and optimal monetary policies in a search economy. We show that the same frictions that give fiat money a positive value generate an inefficient quantity of goods in each trade and an inefficient number of trades (or search decisions). The Friedman rule eliminates the first inefficiency and the Hosios rule the second. A monet...

The names Milton Friedman and John Taylor are associated with different monetary policy rules; but, as shown in this paper, the difference between their perceptions of how the economy works is not great. The monetary policy rules advanced by Taylor and Friedman are compared by linking the rules to the two economists’ underlying views about nominal rigidity, the source of trade-offs, the sources...

W. V. Quine famously argues that though all knowledge is empirical, mathematics is entrenched relative to physics and the special sciences. Further, entrenchment accounts for the necessity of mathematics relative to these other disciplines. Michael Friedman challenges Quine’s view by appealing to historicism, the thesis that the nature of science is illuminated by taking into account its histor...

Although for many years insects were believed to be insensitive to curare (Harlow, 1958; Hopf, 1952; Krupp, Lendle & Stapenhorst, 1952; Roeder, 1948, 1953; Roeder & Weiant, 1950; Usherwood, 1963), the recent report of Larsen, Miller & Yamamoto (1966) has demonstrated that insects are, indeed, sensitive to curare. Subsequent investigations (McCann, 1966; Flattum, Friedman & Larsen, 1967; Friedma...