Milton Friedman

Milton Friedman (July 31, 1912 - November 16, 2006) was an American economist who made major contributions to the fields of macroeconomics, microeconomics, economic history and statistics while advocating laissez-faire capitalism. In 1976, he won the Nobel Memorial Prize in Economics for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy.
Milton was an intellectual architect of the free-market policies of Republican US presidents, and an adviser to Margaret Thatcher when she was Prime Minister. Over half a century, Friedman, the son of Hungarian Jewish immigrants, established himself as arguably the most influential economic thinker of his time. Over that post-war period, 'Friedmanism' - the belief that changes in money supply dictate fluctuations in the economy - supplanted Keynesianism as the dominant economic philosophy of the industrial world.
Inflation, he believed, was caused by too much money chasing two few goods. Conversely, deflation was the result of too little money in the economy. He argued that the Depression was not a failure of capitalism, but of government, as the monetary authorities in the US and Europe reduced liquidity in the system, thus making a bad situation worse.

A little about the Black Hole

A black hole is an object predicted by General Relativity [The geometrical theory of gravitation published by Albert Einstein in 1915] with a gravitational field so strong that nothing can escape it - not even light.

A black hole is defined to be a region of space-time where escape to the outside universe is impossible. The boundary of this region is a surface called the event horizon. This surface is not a physically tangible one, but merely a figurative concept of an imaginary boundary. Nothing can move from inside the event horizon to the outside, even briefly.

Black holes are the evolutionary endpoints of stars at least 10 to 15 times as massive as the Sun. If a star that massive or larger undergoes a supernova explosion, it may leave behind a fairly massive burned out stellar remnant. With no outward forces to oppose gravitational forces, the remnant will collapse in on itself. The star eventually collapses to the point of zero volume and infinite density, creating what is known as a 'singularity'. As the density increases, the path of light rays emitted from the star are bent and eventually wrapped irrevocably around the star. Any emitted photons are trapped into an orbit by the intense gravitational field; they will never leave it. Because no light escapes after the star reaches this infinite density, it is called a black hole.