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Inflation is always and everywhere a monetary phenomenon.

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
Economics
Everywhere
Always
Monetary
Economist
Inflation
Phenomenon

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The use of quantity of money as a target has not been a success. I'm not sure that I would as of today push it as hard as I once did.
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The only corporate social responsibility a company has is to maximize its profits.
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Economists may not know how to run the economy, but they know how to create shortages or gluts simply by regulating prices below the market, or artificially supporting them from above.
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Pick at random any three letters from the alphabet, put them in any order, and you will have an acronym designating a federal agency we can do without.
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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 great virtue of a free market is that it enables people who hate each other, or who are from vastly different religious or ethnic backgrounds, to cooperate economically. Government intervention can't do that.
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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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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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What makes it [economics] most fascinating is that its fundamental principles are so simple that they can be written on one page, that anyone can understand them, and yet very few do.
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What does it mean to say that government might have a responsibility? Government can't have a responsibility any more than the business can. The only entities which can have responsibilities are people.
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Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
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When everybody owns something, nobody owns it, and nobody has a direct interest in maintaining or improving its condition. That is why buildings in the Soviet Union - like public housing in the United States - look decrepit within a year or two of their construction.
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The great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government.
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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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You mustn't judge a politician by talk. You have to judge them by performance.
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You cannot simultaneously have free immigration and a welfare state.
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If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.
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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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Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.
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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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