July 31, 1912 - November 16, 2006

55 Greatest Quotes By Milton Friedman

Corruption is government intrusion into market efficiencies in the form of regulations. Milton Friedman
The combination of economic and political power in the same hands is a sure recipe for tyranny. Milton Friedman
The power to do good is also the power to do harm. Milton Friedman
You never can cure poverty. Poverty is in the eye of the beholder. Milton Friedman
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. Milton Friedman
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. Milton Friedman
Every person shall be free to do good ' at his own expense. Milton Friedman
Governments never learn. Only people learn. Milton Friedman
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. Milton Friedman
A free man will ask neither what his country can do for him nor what he can do for his country. Milton Friedman
The government solution to a problem is usually as bad as the problem. Milton Friedman
We have a system that increasingly taxes work and subsidizes nonwork. Milton Friedman
Is it really true that political self-interest is nobler somehow than economic self-interest? Milton Friedman
Society doesn't have values. People have values. Milton Friedman
The government doesn't have any money. The only power it has is to take from some and give to others. Milton Friedman
The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933. Milton Friedman
When you start paying people to be poor, you wind up with an awful lot of poor people. Milton Friedman
The only relevant test of the validity of a hypothesis is comparison of prediction with experience. Milton Friedman
With respect to teachers' salaries .... Poor teachers are grossly overpaid and good teachers grossly underpaid. Salary schedules tend to be uniform and determined far more by seniority. Milton Friedman
A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both. Milton Friedman
There are severe limits to the good that the government can do for the economy, but there are almost no limits to the harm it can do. Milton Friedman
The only corporate social responsibility a company has is to maximize its profits. Milton Friedman
Nobody spends somebody else's money as carefully as he spends his own. Milton Friedman
You must distinguish sharply between being pro free enterprise and being pro business. Milton Friedman
The most important single central fact about a free market is that no exchange takes place unless both parties benefit. Milton Friedman
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. Milton Friedman
Making prohibition work is like making water run uphill; it's against nature. Milton Friedman
Since the 1930s the technique of buying votes with the voters' own money has been expanded to an extent undreamed of by earlier politicians. Milton Friedman
You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do. Milton Friedman
There's nothing that does so much harm as good intentions. Milton Friedman
Nothing is so permanent as a temporary government program. Milton Friedman
The problem in this world is to avoid concentration of power - we must have a dispersion of power. Milton Friedman
Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government. Milton Friedman
You know there are very few Marxists left in the world... they're all in American universities. Milton Friedman
Higher taxes never reduce the deficit. Governments spend whatever they take in and then whatever they can get away with. Milton Friedman
Underlying most arguments against the free market is a lack of belief in freedom itself. Milton Friedman
If you pay people not to work and tax them when they do, don't be surprised if you get unemployment. Milton Friedman
A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills. Milton Friedman
When a private enterprise fails, it is closed down; when a government enterprise fails, it is expanded. Isn't that exactly what's been happening with drugs? Milton Friedman
If you cannot state a proposition clearly and unambiguously, you do not understand it. Milton Friedman
History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition. Milton Friedman
One of the great mistakes is to judge policies and programs by their intentions rather than their results. Milton Friedman
If freedom were not so economically efficient it certainly wouldn't stand a chance. Milton Friedman
The source of tolerance is the recognition that none of us have the absolute truth. There can be no tolerance without humility. Milton Friedman
There seems little correlation between poverty and honesty. One would rather expect the opposite; dishonesty may not always pay but surely it sometimes does. Milton Friedman
Inflation is the one form of taxation that can be imposed without legislation. Milton Friedman
You cannot simultaneously have free immigration and a welfare state. Milton Friedman
The essential notion of a capitalist society ... is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force. Milton Friedman
Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless. Milton Friedman
Most of the energy of political work is devoted to correcting the effects of mismanagement of government. Milton Friedman
The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government. Milton Friedman
Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us. Milton Friedman