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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.

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
Missing
Transfers
Internet
Reliable
Knowing
Funds
Without
Cash
Thing
Fund
Developed
Method
Transfer
Soon
Whereby

More quotes by Milton Friedman

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Governments never learn. Only people learn.
Milton Friedman
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Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
Milton Friedman
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The facts never speak for themselves. They have to be interpreted in terms of some understanding of where they come from and what the relation between them is.
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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. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes the politically inevitable.
Milton Friedman
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There's no point in comparing an actual, operating system with an ideal system that doesn't exist.
Milton Friedman
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Rich people are the experimental ground for every new development. The nature of progress is that what begins as a luxury for the rich becomes a necessity for the poor as it's developed and passed on.
Milton Friedman
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[T]he burden of government is not measured by how much it taxes, but by how much it spends.
Milton Friedman
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The big problem for a democratic government - democrat with a small d - is how to hold down government spending.
Milton Friedman
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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.
Milton Friedman
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The word 'free' is used three times in the Declaration of Independence and once in the First Amendment to the Constitution, along with 'freedom.' The word 'fair' is not used in either of our founding documents.
Milton Friedman
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Inflation is always and everywhere a monetary phenomenon.
Milton Friedman
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[Trade licensing] almost inevitably becomes a tool in the hands of a special producer group to maintain a monopoly position at the expense of the rest of the public. There is no way to avoid this result.
Milton Friedman
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I know of no severe depression, in any country or any time, that was not accompanied by a sharp decline in the stock of money, and equally of no sharp decline in the stock of money that was not accompanied by a severe depression.
Milton Friedman
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Saying it is one thing. Doing it is very different.
Milton Friedman
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The combination of economic and political power in the same hands is a sure recipe for tyranny.
Milton Friedman
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Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.
Milton Friedman
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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
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The central banks cannot control interest rates. That's a mistake. They can control a particular rate, such as the Federal Funds rate, if they want to, but they can't control interest rates.
Milton Friedman
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I am convinced that the minimum-wage law is the most anti-Negro law on our statute books in its effect, not its intent.
Milton Friedman
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The existence of a free market does not of course eliminate the need for government. On the contrary, government is essential both as a forum for determining the rule of the game and as an umpire to interpret and enforce the rules decided on.
Milton Friedman