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Only a crisis, actual or perceived, produces real change.
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
Perceived
Produces
Actual
Crisis
Produce
Change
Real
More quotes by Milton Friedman
The price works so well, so efficiently, that we are not aware of it most of the time.
Milton Friedman
The central banks cannot control interest rates. That's a mistake. They can control a particular rate, such as the Federal Funds rate, if they want to, but they can't control interest rates.
Milton Friedman
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
If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.
Milton Friedman
[T]he burden of government is not measured by how much it taxes, but by how much it spends.
Milton Friedman
Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
Milton Friedman
By encouraging men to spy and report on one another, by making it in the private interest of large numbers of citizens to evade the controls, and by making actions illegal that are in the public interest, the controls undermine individual morality.
Milton Friedman
One man's opportunism is another man's statesmanship.
Milton Friedman
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.
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
The problem is that, in a world of floating exchange rates, as Italy was before the euro, if one country is subjected to a shock which requires it to cut wages, it cannot do so with a modern kind of control and regulation system. It is much easier to do it by letting the exchange rate change. Only one price has to change, instead of many.
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
The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.
Milton Friedman
No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.
Milton Friedman
Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us.
Milton Friedman
The excuse for the destruction of liberty is always the plea of necessary ' that there is no alternative
Milton Friedman
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.
Milton Friedman
Indeed, a major source of objection to a free economy is precisely that it... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
Milton Friedman
The Founding Fathers envisioned a federal government that trusts its people with their money and freedom, outlining this limited, non-intrusive federal government in...the Constitution, leaving the other powers to people...or to the states.
Milton Friedman
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?
Milton Friedman