Economic theories and policy proposals associated with Milton Friedman—a leading figure of the Chicago School of economics—have faced substantial criticisms from Keynesian, institutional, and progressive economists. Critics frequently argue that his staunch advocacy for strict monetarism, deregulation, privatization of public services, and minimal government intervention overlooks systemic market failures, exacerbates income inequality, and fails to adequately address economic recessions. Opponents contend that applying uncompromising free-market monetarist policies can lead to social neglect, corporate monopolies, and volatile economic shocks.