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Inflation is taxation without legislation.

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
Conservative
Money
Without
Taxation
Inflation
Legislation
Finance
Economics

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The only corporate social responsibility a company has is to maximize its profits.
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If China don't free up the political side, its economic growth will come to an end - while it is still at a very low level.
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Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.
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The current oil crisis has not been produced by the oil companies. It is a result of governmental mismanagement exacerbated by the Mideast war.
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How can we keep the government we create from becoming a Frankenstein that will destroy the very freedom we establish it to protect? Freedom is a rare and delicate plant.
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And where are you going to get these angels who are going to run society for us?
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The price works so well, so efficiently, that we are not aware of it most of the time.
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To the free man, the country is the collection of individuals who compose it, not something over and above them... He recognizes no national goal except as it is the consensus of the goals that the citizens severally serve. He recognizes no national purpose except as it is the consensus of the purposes for which the citizens severally strive.
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. . 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.
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Economists may not know how to run the economy, but they know how to create shortages or gluts simply by regulating prices below the market, or artificially supporting them from above.
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We measure poverty by what I believe is a very, very crude concept. We actually measure poverty by trying to get some kind of an estimate of the minimum expenditures on food that are required to maintain health, multiplying that number by three, and saying that's the level of poverty. And it's a very crude, inaccurate arrangement.
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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.
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You cannot simultaneously have free immigration and a welfare state.
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A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.
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Not all schooling is education nor all education, schooling.
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History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
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Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us.
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Inflation is always and everywhere a monetary phenomenon.
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As a nation, we have been responsible for the murder of literally hundreds of thousands of people at home and abroad by fighting a war that should never have been started and can be won, if at all, only by converting the United States into a police state.
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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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