Milton Friedman

Milton Friedman

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

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

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.

And what does reward virtue? You think the communist commissar rewards virtue? You think a Hitler rewards virtue? You think excuse me if you'll pardon me American presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of their political clout?

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.

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?

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.

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

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

There's no such thing as a free lunch.

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

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

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

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

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.

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

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.

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.

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