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

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
Hypothesis
Statistics
Relevant
Comparison
Test
Tests
Prediction
Experience
Validity
Predictions

More quotes by Milton Friedman

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When a private enterprise fails, it is closed down when a government enterprise fails, it is expanded. Isn't that exactly what's been happening with drugs?
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The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.
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I am a limited-government libertarian.
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So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.
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Underlying most arguments against the free market is a lack of belief in freedom itself.
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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.
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Freedom means diversity but also mobility. It preserves the opportunity for today's disadvantaged to become tomorrow's privileged and, in the process, enables almost everyone, from top to bottom, to enjoy a fuller and richer life.
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There is no place for government to prohibit consumers from buying products the effect of which will be to harm themselves.
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George Stigler was a delightful correspondent. In a letter from London in 1948, after remarking on the inconvertibility of the pound and the inedible, still-rationed food, he concluded, So here I am losing weight and gaining pounds.
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There is not a line in 'The Wealth of Nations' that is not still applicable to this day.
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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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How do you hold down government spending?
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Germany's problem, in part, is that it went into the euro at the wrong exchange rate that overvalued the deutsche mark.
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There's a smokestack on the back of every government program.
Milton Friedman
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Whenever you try to do good with someone else's money, you are committed to using force. How can you do good with somebody else's money, unless you first take it away from them? The only way you can take it away from them is the threat of force: you have a policeman, tax collector, who comes and takes it from them.
Milton Friedman
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The combination of economic and political power in the same hands is a sure recipe for tyranny.
Milton Friedman
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I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.
Milton Friedman
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There's no such thing as a free lunch.
Milton Friedman
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No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation.
Milton Friedman
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Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.
Milton Friedman