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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

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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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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.
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You never can cure poverty. Poverty is in the eye of the beholder.
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Since the 1930s the technique of buying votes with the voters' own money has been expanded to an extent undreamed of by earlier politicians.
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Positive economics is in principle independent of any particular ethical position or normative judgment...In short, positive economics is or can be an objective science.
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Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.
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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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A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
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The argument for collectivism is simple free market is not.
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If you look at the balance sheet, the US is heavily in debt. If you look at the income account - the amount of interest the US pays abroad - it is almost exactly equal to the amount of interest that it receives from abroad. American assets held abroad are earning a higher rate of return than foreign assets held here.
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Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around.
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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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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.
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Statistics do not speak for themselves.
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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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Inflation is always and everywhere a monetary phenomenon.
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Saying it is one thing. Doing it is very different.
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One man's opportunism is another man's statesmanship.
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I think in some ways it would make more sense to have as a poverty level a relative concept and say, the level of poverty is that level of income or that level of consumption below which 10 percent of the people now are.
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The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken.
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Nobody spends somebody else's money as carefully as he spends his own.
Milton Friedman