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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?

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
Government
Enterprise
Hemp
Drugs
Cannabis
Happenings
Expanded
Happening
Pot
Private
Fails
Exactly
Marijuana
Drug
Weed
Failing
Closed

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History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
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Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.
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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.
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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.
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Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us.
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Germany has a very able and productive workforce. It has high-quality products that are valued all over the world. It has every opportunity to be a productive, growing state. It just has to give its entrepreneurs a chance. It has to let them make money, hire and fire, and act like entrepreneurs.
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The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A.
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There's no way to avoid a burden on your freedom. The costs themselves are a burden on your freedom. The restrictions that are necessary in order to get rid of the terrorists are a burden to your freedom. So there's no way in the short run to avoid a restriction on your freedom.
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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.
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The big problem for a democratic government - democrat with a small d - is how to hold down government spending.
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I am a limited-government libertarian.
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What kind of society isn't structured on greed?
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How do you hold down government spending?
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In a free society, it is hard for 'good' people to do 'good', but that is a small price to pay for making it hard for 'evil' people to do 'evil', especially since one man's good is another's evil
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The current oil crisis has not been produced by the oil companies. It is a result of governmental mismanagement exacerbated by the Mideast war.
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World trade depends on differences among countries, not similarities. Different countries are in different stages of development. It is appropriate for them to have different patterns, different policies for ecology, labor standards, and so forth.
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A society that aims for equality before liberty will end up with neither equality nor liberty. And a society that aims first for liberty will not end up with equality, but it will end up with a closer approach to equality than any other kind of system that has ever been developed.
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They think that the cure to big government is to have bigger government... the only effective cure is to reduce the scope of government - get government out of the business.
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. . I think the Adam Smith role was played in this cycle i.e. the late twentieth century collapse of socialism in which the idea of free-markets succeeded first, and then special events catalyzed a complete change of socio-political policy in countries around the world by Friedrich Hayek's The Road to Serfdom.
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