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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
Real
Perceived
Produces
Actual
Crisis
Produce
Change
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
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 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.
Milton Friedman
You never can cure poverty. Poverty is in the eye of the beholder.
Milton Friedman
Freedom is a rare and delicate plant. Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power.
Milton Friedman
There's no such thing as a free lunch.
Milton Friedman
The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
Milton Friedman
History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
Milton Friedman
The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. Yet it is largely a result of minimum wage laws. We regard the minimum wage law as one of the most, if not the most, anti-black laws on the statute books.
Milton Friedman
Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one.
Milton Friedman
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.
Milton Friedman
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.
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
We had much freer trade in the 19th century. We have much less globalization now than we did then.
Milton Friedman
The excuse for the destruction of liberty is always the plea of necessary ' that there is no alternative
Milton Friedman
The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.
Milton Friedman
The big problem for a democratic government - democrat with a small d - is how to hold down government spending.
Milton Friedman
Saying it is one thing. Doing it is very different.
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
The great achievements of civilization have not come from government bureaus.
Milton Friedman
