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Milton Friedman Quotes
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![My monetary studies have led me to the conclusion that central banks could profitably be replaced by computers. Fortunately, for me personally, that conclusion has had no practical impact, else there would have been no Central Bank of Sweden to have established the award [Nobel Prize] I am honored to receive Picture Quote #1](https://img.picturequotes.com/2/812/811900/811900.webp "My monetary studies have led me to the conclusion that central banks could profitably be replaced by computers. Fortunately, for me personally, that conclusion has had no practical impact, else there would have been no Central Bank of Sweden to have established the award [Nobel Prize] I am honored to receive Picture Quote #1")
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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 (Milton Friedman Quotes)
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 Quotes)
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 (Milton Friedman Quotes)
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? (Milton Friedman Quotes)
There is not a line in ‘The Wealth of Nations’ that is not still applicable to this day (Milton Friedman Quotes)
My interest in political philosophy was rather casual until I met Hayek (Milton Friedman Quotes)
If a tax cut increases government revenues, you haven’t cut taxes enough (Milton Friedman Quotes)
Most of the energy of political work is devoted to correcting the effects of mismanagement of government (Milton Friedman Quotes)
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? (Milton Friedman Quotes)
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 (Milton Friedman Quotes)
I say thank God for government waste. If government is doing bad things, it’s only the waste that prevents the harm from being greater (Milton Friedman Quotes)
One of the great mistakes is to judge policies and programs by their intentions, rather than their results. We all know a famous road that is paved with good intentions. The people who go around talking about their ‘soft heart,’-I admire them for the softness of their heart, but very often it extends to their head as well (Milton Friedman Quotes)
The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline (Milton Friedman Quotes)
Consider Social Security. The young have always contributed to the support of the old. Earlier, the young helped their own parents out of a sense of love and duty. They now contribute to the support of someone else’s parents out of compulsion and fear. The voluntary transfers strengthened the bonds of the family; the compulsory transfers weaken those bonds (Milton Friedman Quotes)
The key insight of Adam Smith’s Wealth of Nations is misleadingly simple: if an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another (Milton Friedman Quotes)
Self-interest is not myopic selfishness. It is whatever it is that interests the participants, whatever they value, whatever goals they pursue. The scientist seeking to advance the frontiers of his discipline, the missionary seeking to convert infidels to the true faith, the philanthropist seeking to bring comfort to the needy - all are pursuing their interests, as they see them, as they judge them by their own values (Milton Friedman Quotes)
The proper role of government is exactly what John Stuart Mill said in the middle of the nineteenth century in On Liberty. The proper role of government is to prevent other people from harming an individual. Government, he said, never has any right to interfere with an individual for that individual’s own good (Milton Friedman Quotes)
The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken (Milton Friedman Quotes)
Drugs are a tragedy for addicts. But criminalizing their use converts that tragedy into a disaster for society, for users and non-users alike. Our experience with the prohibition of drugs is a replay of our experience with the prohibition of alcoholic beverages (Milton Friedman Quotes)
The present oil crisis has not been produced by the oil companies. It is a result of government mismanagement exacerbated by the Mideast war (Milton Friedman Quotes)
The state of our educational system is a disgrace to our country. We have an elementary and secondary school system in which close to half of the youngsters never graduate properly. It’s a disgrace that there is more illiteracy today than there was 100 years ago (Milton Friedman Quotes)
In the 1960s, The National Education Association changed its character. The NEA changed into a union. And from that point on you can see deterioration in the quality of schooling in the United States (Milton Friedman Quotes)
If we have system in which government is in a position to give large favor - it’s human nature to try to get this favor - whether those people are large enterprises, or whether they’re small businesses like farmers, or whether they’re representatives of any other special group. The only way to prevent that is to force them to engage in competition one with the other (Milton Friedman Quotes)
John Lott documents how far ‘politically correct’ vested interests are willing to go to denigrate anyone who dares disagree with them. Lott has done us all a service by his thorough, thoughtful scholarly approach to a highly controversial issue (Milton Friedman Quotes)
How did we make the transition from using wood to using coal, from using coal to using oil, from using oil to using natural gas? How in God’s name did we make that transition without a Federal Energy Agency? (Milton Friedman Quotes)
My monetary studies have led me to the conclusion that central banks could profitably be replaced by computers. Fortunately, for me personally, that conclusion has had no practical impact, else there would have been no Central Bank of Sweden to have established the award [Nobel Prize] I am honored to receive (Milton Friedman Quotes)
The fall of the Berlin Wall did more for the progress of freedom than all of the books written by myself or Friedrich Hayek or others. (Milton Friedman Quotes)
In the US, the problem is primary and secondary education. We’ve had such an increase in inequality because a quarter of American kids don’t finish high school! (Milton Friedman Quotes)
The fall of the Berlin Wall really demonstrated beyond the shadow of a doubt that there was a bad system, and what subsequently happened in the Soviet Union, that that system was a failure. (Milton Friedman Quotes)
There is no figure who had more of an influence, no person had more of an influence on the intellectuals behind the Iron Curtain than Friedrich Hayek. His books were translated and published by the underground and black market editions, read widely, and undoubtedly influenced the climate of opinion that ultimately brought about the collapse of the Soviet Union. (Milton Friedman Quotes)