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Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.
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
Increase
Rapids
Sense
Monetary
Money
Inflation
Always
Quantity
Produced
Phenomenon
Investing
Output
Everywhere
Rapid
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Education spending will be most effective if it relies on parental choice & private initiative -- the building blocks of success throughout our society.
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My major problem with the world is a problem of scarcity in the midst of plenty ... of people starving while there are unused resources ... people having skills which are not being used.
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[T]he burden of government is not measured by how much it taxes, but by how much it spends.
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Making prohibition work is like making water run uphill it's against nature.
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The evidence of history speaks with a single voice. I do not know any exception to the proposition that if you compare like with like, the freer the system, the better off the ordinary poor people have been.
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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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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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How do you hold down government spending?
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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.
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Everywhere, and at all times, economic progress has meant far more to the poor than to the rich.
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The Founding Fathers envisioned a federal government that trusts its people with their money and freedom, outlining this limited, non-intrusive federal government in...the Constitution, leaving the other powers to people...or to the states.
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My interest in political philosophy was rather casual until I met Hayek.
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The price works so well, so efficiently, that we are not aware of it most of the time.
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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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There's a smokestack on the back of every government program.
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Inflation is taxation without legislation.
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Saying it is one thing. Doing it is very different.
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