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Milton Friedman, recipient of the 1976 Nobel Memorial Prize for economic science, was a senior research fellow at the Hoover Institution from 1977 to 2006. He passed away on Nov. 16, 2006. Friedman was awarded the Presidential Medal of Freedom in 1988 and received the National Medal of Science the same year. He was widely regarded as the leader of the Chicago School of monetary economics, which stresses the importance of the quantity of money as an instrument of government policy and as a determinant of business cycles and inflation. Robert Leeson is a prolific historian of economic thought who has published or edited more than twenty books on Milton Friedman, A.W.H. Phillips, and Friedrich Hayek. Charles Palm is the deputy director emeritus of the Hoover Institution at Stanford University. Retiring in 2002, he completed thirty-one years of service at the Hoover, including eighteen years directing the Hoover Library & Archives.