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Milton Friedman

Milton Friedman

Milton Friedman (July 31, 1912  – November 16, 2006) was an American economist, statistician, and public intellectual, and a recipient of the Nobel Memorial Prize in Economics. He is best known among scholars for his theoretical and empirical research, especially consumption analysis, monetary...
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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.

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.

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So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.

So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.

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

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

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

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

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

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

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

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

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

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

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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.

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.

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

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

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History suggests that capitalism is a necessary condition for political freedom.

History suggests that capitalism is a necessary condition for political freedom.

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Governments never learn. Only people learn.

Governments never learn. Only people learn.

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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.

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.

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Never try to walk across a river just because it has an average depth of four feet.

Never try to walk across a river just because it has an average depth of four feet.

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

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

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

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

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Inflation is one form of taxation that can be imposed without legislation.

Inflation is one form of taxation that can be imposed without legislation.

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There's no such thing as a free lunch.

There's no such thing as a free lunch.

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

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

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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.

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.

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