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Milton Friedman Quotes
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Education spending will be most effective if it relies on parental choice and private initiative -- the building blocks of success throughout our society. (Milton Friedman Quotes)
The Internet moves us closer to perfect information on markets. Individuals and companies alike can buy and sell across borders and jurisdictions wherever they find the best match of supply and demand. (Milton Friedman Quotes)
The essential notion of a capitalist society ... is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force. (Milton Friedman Quotes)
Inflation is a monetary phenomenon. It is made by or stopped by the central bank. (Milton Friedman Quotes)
The central banks cannot control interest rates. That’s a mistake. They can control a particular rate, such as the Federal Funds rate, if they want to, but they can’t control interest rates. (Milton Friedman Quotes)
It doesn’t worry me a bit that China and Japan hold so much US debt. In a way, it seems foolish for them to do it because they get lower returns than they might elsewhere. But that is their business. (Milton Friedman Quotes)
The only corporate social responsibility a company has is to maximize its profits (Milton Friedman Quotes)
We don’t have a desperate need to grow. We have a desperate desire to grow. (Milton Friedman Quotes)
World trade depends on differences among countries, not similarities. Different countries are in different stages of development. It is appropriate for them to have different patterns, different policies for ecology, labor standards, and so forth. (Milton Friedman Quotes)
These people live in many lands, speak different languages, practice different religions, may even hate one another- yet none of these differences prevented them from cooperating to produce a pencil. How did it happen? Adam Smith gave us the answer two hundred years ago. (Milton Friedman Quotes)
See, if you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That’s literally true. (Milton Friedman Quotes)
China’s productive system draws upon the other East Asian countries to a great extent. The volume of trade is much larger than the net amount being exported from China. China needs substantial reserves to finance all that. (Milton Friedman Quotes)
Economic freedom is ... an indispensable means toward the achievement of political freedom. (Milton Friedman Quotes)
Freedom in economic arrangements is itself a component of freedom broadly understood, so economic freedom is an end in itself ... Economic freedom is also an indispensable means toward the achievement of political freedom. (Milton Friedman Quotes)
The growing role that the government has played in financing and administering schooling has led not only the enormous waste of taxpayers money but also to a far poorer educational system. (Milton Friedman Quotes)
Nobody spends somebody else’s money as carefully as he spends his own. Nobody uses somebody else’s resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property. (Milton Friedman Quotes)
Most of the energy of political work is devoted to correcting the effects of mismanagement of government. (Milton Friedman Quotes)
Germany’s problem, in part, is that it went into the euro at the wrong exchange rate that overvalued the deutsche mark. (Milton Friedman Quotes)
The Founding Fathers envisioned a federal government that trusts its people with their money and freedom, outlining this limited, non-intrusive federal government in...the Constitution, leaving the other powers to people...or to the states. (Milton Friedman Quotes)
To the free man, the country is the collection of individuals who compose it, not something over and above them. (Milton Friedman Quotes)
A free man will ask neither what his country can do for him nor what he can do for his country (Milton Friedman Quotes)
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... (Milton Friedman Quotes)
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. (Milton Friedman Quotes)
The only reason free markets have a ghost of a chance is that they are so much more efficient than any other form of organization. (Milton Friedman Quotes)
Complete free trade is not politically feasible. Why? Because it’s only in the general interest and in no one’s special interest. (Milton Friedman Quotes)
. . I think the Adam Smith role was played in this cycle i.e. the late twentieth century collapse of socialism in which the idea of free-markets succeeded first, and then special events catalyzed a complete change of socio-political policy in countries around the world by Friedrich Hayek’s The Road to Serfdom. (Milton Friedman Quotes)
If you continue to use monetary policy to attempt to promote full employment the result would be that you would have higher inflation, and that you would not have lower unemployment. (Milton Friedman Quotes)
The government doesn’t have any money. The only power it has is to take from some and give to others. (Milton Friedman Quotes)
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 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)