Milton Friedman Quotes

There's no such thing as a free lunch.... -Milton Friedman

Indeed, a major source of objection to a free economy is precisely that it... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.

Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.

Hell hath no fury like a bureaucrat scorned.

Discovering the context

This quote plays on the well-known phrase "Hell hath no fury like a woman scorned," humorously suggesting that bureaucrats can be particularly vengeful or vindictive when offended or undermined.

So that the record of history is absolutely crystal clear. That there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.

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

Governments never learn. Only people learn.

I think that the Internet is going to be one of the major forces for reducing the role of government. The one thing that's missing, but that will soon be developed, is a reliable e-cash - a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A.

We have a system that increasingly taxes work and ... -Milton Friedman

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

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

If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.

The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.

Underlying most arguments against the free market ... -Milton Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself.

Well first of all, tell me, is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed?

The only relevant test of the validity of a hypoth... -Milton Friedman

The only relevant test of the validity of a hypothesis is comparison of prediction with experience.

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 am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.

The world runs on individuals pursuing their self interests. The great achievements of civilization have not come from government bureaus. Einstein didn't construct his theory under order from a, from a bureaucrat. Henry Ford didn't revolutionize the automobile industry that way.

Nothing is so permanent as a temporary government ... -Milton Friedman

Nothing is so permanent as a temporary government program.

When government - in pursuit of good intentions - tries to rearrange the economy, legislate morality, or help special interests, the cost come in inefficiency, lack of motivation, and loss of freedom. Government should be a referee, not an active player.

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

Concentrated power is not rendered harmless by the... -Milton Friedman

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

The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.

Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect citizens from crimes against themselves or their property.

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 government solution to a problem is usually as... -Milton Friedman

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

Inflation is taxation without legislation.

Most of the energy of political work is devoted to correcting the effects of mismanagement of government.

Milton Friedman Quotes

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