In 1937, Friedman joined the research staff of the National Bureau of Economic Research in New York City.
During World War II, he worked in the Treasury Department, where he helped create the federal withholding tax system.
In 1940, Friedman accepted a job at the University of Wisconsin but was forced to resign within a year
He had served as an adviser to President Richard Nixon and was president of the American Economic Association in 1967.
He worked at the University of Chicago, where he taught for the next 30 years, while simultaneously maintaining a staff position with the Bureau of Economic Research
He was awarded the 1976 Nobel 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."
After retiring from the University of Chicago in 1977, Friedman became a senior research fellow at the Hoover Institution at Stanford University.
From 1977 until his death he was a Senior Research Fellow at the Hoover Institution on War, Revolution and Peace at Stanford University.