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

Milton Friedman

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Milton Friedman
Age: 94 †
Born: 1912
Born: July 31
Died: 2006
Died: November 16
Economist
Essayist
Statistician
University Teacher
Writer
Brooklyn
New York
Milton Fridman
Power
Concentrated
Good
Libertarianism
Intentions
Libertarian
Economics
Intention
Liberty
Harmless
Create
Rendered

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The great virtue of a free market is that it enables people who hate each other, or who are from vastly different religious or ethnic backgrounds, to cooperate economically. Government intervention can't do that.
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The great achievements of civilization have not come from government bureaus.
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Had drugs been decriminalized, crack would never have been invented and there would today be fewer addicts... The ghettos would not be drug-and-crime-infested no-man's lands... Colombia, Bolivia and Peru would not be suffering from narco-terror, and we would not be distorting our foreign policy because of it.
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Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
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The excuse for the destruction of liberty is always the plea of necessary ' that there is no alternative
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My interest in political philosophy was rather casual until I met Hayek.
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I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.
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Inflation is taxation without legislation.
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You can only make money if you buy a product, whatever it is - maybe a currency, maybe wheat and maybe something else - at a relatively low price and sell it at a higher price than you buy it at. There's no other way to make money.
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The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.
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Only a crisis, actual or perceived, produces real change.
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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.
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I am convinced that the minimum-wage law is the most anti-Negro law on our statute books in its effect, not its intent.
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The combination of economic and political power in the same hands is a sure recipe for tyranny.
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A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.
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A society that aims for equality before liberty will end up with neither equality nor liberty. And a society that aims first for liberty will not end up with equality, but it will end up with a closer approach to equality than any other kind of system that has ever been developed.
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To the free man, the country is the collection of individuals who compose it, not something over and above them.
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The evidence of history speaks with a single voice. I do not know any exception to the proposition that if you compare like with like, the freer the system, the better off the ordinary poor people have been.
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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.
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Germany has a very able and productive workforce. It has high-quality products that are valued all over the world. It has every opportunity to be a productive, growing state. It just has to give its entrepreneurs a chance. It has to let them make money, hire and fire, and act like entrepreneurs.
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