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Friedman served as an unofficial adviser to Ronald Reagan during his 1980 presidential campaign, and then served on the President's Economic Policy Advisory Board for the rest of the Reagan Administration . Ebenstein says Friedman was "the 'guru' of the Reagan administration."  In 1988 he received the National Medal of Science and Reagan honored him with the Presidential Medal of Freedom . Milton Friedman is known now as one of the most influential economists of the 20th century.   Throughout the 1980s and 1990s, Friedman continued to write editorials and appear on television. He made several visits to Eastern Europe and to China, where he also advised governments. He was also for many years a Trustee of the Philadelphia Society .   
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Capitalism and Freedom made the Intercollegiate Studies Institute 's 50 Best Books of the Twentieth Century and also was placed tenth on the list of the 100 best non-fiction books of the twentieth century compiled by National Review . In 2011, the book was placed on Time Magazine 's top 100 non-fiction books written in English since 1923.