Was Friedman a micro or macroeconomist? Both. His early work on price theory established the power of markets and the perverse effects of government intervention. He wrote widely and publicly about the problems of price controls, excessive state interference in education, prohibition and drugs, and the social responsibility of business, which would be uniquely relevant today. But he is equally, if not more, famous for founding the monetarist school of economics. And that is where his views begin to touch Bitcoin.ith electronic money.