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Look, for example, at the obvious, immediate, practical example of illegal Mexican immigration. Now, that Mexican immigration, over the border, is a good thing. It's a good thing for the illegal immigrants. It's a good thing for the United States. It's a good thing for the citizens of the country. But, it's only good so long as its illegal....

Milton Friedman

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Milton Friedman
Age: 94 †
Born: 1912
Born: July 31
Died: 2006
Died: November 16
Economist
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Statistician
University Teacher
Writer
Brooklyn
New York
Milton Fridman
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Freedom in economic arrangements is itself a component of freedom broadly understood, so economic freedom is an end in itself ... Economic freedom is also an indispensable means toward the achievement of political freedom.
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The only corporate social responsibility a company has is to maximize its profits.
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Only a crisis, actual or perceived, produces real change.
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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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Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
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Underlying most arguments against the free market is a lack of belief in freedom itself.
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Inflation is taxation without legislation.
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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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I would say that in this world, the greatest source of inequality has been special privileges granted by government.
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There is only one social responsibility of business
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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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China's productive system draws upon the other East Asian countries to a great extent. The volume of trade is much larger than the net amount being exported from China. China needs substantial reserves to finance all that.
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Nobody spends somebody else's money as carefully as he spends his own.
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When you start paying people to be poor, you wind up with an awful lot of poor people.
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What central banks can control is a base and one way they can control the base is via manipulating a particular interest rate, such as a Federal Funds rate, the overnight rate at which banks lend to one another. But they use that control to control what happens to the quantity of money. There is no disagreement.
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It doesn't worry me a bit that China and Japan hold so much US debt. In a way, it seems foolish for them to do it because they get lower returns than they might elsewhere. But that is their business.
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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.
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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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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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You cannot simultaneously have free immigration and a welfare state.
Milton Friedman