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If the only motive was to help people who could not afford education, advocates of government involvement would have simply proposed tuition subsidies.

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
Education
Proposed
Help
Libertarianism
Helping
Involvement
Government
Motive
Would
Libertarian
People
Afford
Advocates
Simply
Tuition
Liberty
Subsidies

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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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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.
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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.
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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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Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible.
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Statistics do not speak for themselves.
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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.
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Nobody spends somebody else's money as carefully as he spends his own.
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It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society.
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There is not a line in 'The Wealth of Nations' that is not still applicable to this day.
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There is one and only one social responsibility of business - to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.
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The government solution to a problem is usually as bad as the problem.
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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.
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Government is a way by which every individual believes he can live at the expense of everybody else.
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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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We measure poverty by what I believe is a very, very crude concept. We actually measure poverty by trying to get some kind of an estimate of the minimum expenditures on food that are required to maintain health, multiplying that number by three, and saying that's the level of poverty. And it's a very crude, inaccurate arrangement.
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Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest.
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I do not believe there is a natural resource economics. I believe there is good economics and bad economics.
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Not all schooling is education nor all education, schooling.
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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.
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