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Milton Friedman Quotes

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Milton Friedman
July 31, 1912 - November 16, 2006
Nationality: American
Category: Economist
Subcategory: American Economist

Concentrated power is not rendered harmless by the good intentions of those who create it.


Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.


We have a system that increasingly taxes work and subsidizes nonwork.


Inflation is taxation without legislation.


Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.


One man's opportunism is another man's statesmanship.


A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.


The power to do good is also the power to do harm.


The government solution to a problem is usually as bad as the problem.


The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.


The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system.


History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.


The most important single central fact about a free market is that no exchange takes place unless both parties benefit.


Nothing is so permanent as a temporary government program.


Every friend of freedom must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence.


Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.


The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.


I'm in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.


Columbus did not seek a new route to the Indies in response to a majority directive.


The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes.


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