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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
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More quotes by Milton Friedman
To the free man, the country is the collection of individuals who compose it, not something over and above them. He is proud of a common heritage and loyal to common traditions. But he regards government as a means, an instrumentality, neither a grantor of favors and gifts, nor a master or god to be blindly worshipped and served.
Milton Friedman
On aging societies, there is no reason why a country that has a lot of old people can't be prosperous if, during their working lives, individuals provide for their retirement.
Milton Friedman
We have a freer world because of the collapse of the Soviet Union and the changes in China. Those two have been the main contributors to freedom in our time.
Milton Friedman
The combination of economic and political power in the same hands is a sure recipe for tyranny.
Milton Friedman
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
The use of quantity of money as a target has not been a success. I'm not sure that I would as of today push it as hard as I once did.
Milton Friedman
The Great Depression in the United States, far from being a sign of the inherent instability of the private enterprise system, is a testament to how much harm can be done by mistakes on the part of a few men when they wield vast power over the monetary system of the country.
Milton Friedman
The heart of the liberal philosophy is a belief in the dignity of the individual, in his freedom to make the most of his capacities and opportunities according to his own lights.
Milton Friedman
Pick at random any three letters from the alphabet, put them in any order, and you will have an acronym designating a federal agency we can do without.
Milton Friedman
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.
Milton Friedman
Germany's problem, in part, is that it went into the euro at the wrong exchange rate that overvalued the deutsche mark.
Milton Friedman
The only corporate social responsibility a company has is to maximize its profits.
Milton Friedman
When you start paying people to be poor, you wind up with an awful lot of poor people.
Milton Friedman
The big problem for a democratic government - democrat with a small d - is how to hold down government spending.
Milton Friedman
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
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.
Milton Friedman
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
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.
Milton Friedman
There's no point in comparing an actual, operating system with an ideal system that doesn't exist.
Milton Friedman
[T]he burden of government is not measured by how much it taxes, but by how much it spends.
Milton Friedman
