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I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible. ... because I believe the big problem is not taxes, the big problem is spending.
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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University Teacher
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Brooklyn
New York
Milton Fridman
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More quotes by Milton Friedman
What kind of society isn't structured on greed?
Milton Friedman
A crackpot theory. Instead of saying labor's exploited, as Marx did, Kelso says capital's exploited. It's worse than Marx. It's Marx stood on its head.
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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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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.
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The only reason free markets have a ghost of a chance is that they are so much more efficient than any other form of organization.
Milton Friedman
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.
Milton Friedman
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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Richard Nixon was a very intelligent and able man. And he had the right ideas. But he did not have the adherence to principles that [Ronald] Reagan had. He did some very good things. We owe to Richard Nixon the volunteer army - he got rid of the draft. And that was a major increase in freedom.
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There is only one social responsibility of business
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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.
Milton Friedman
As a nation, we have been responsible for the murder of literally hundreds of thousands of people at home and abroad by fighting a war that should never have been started and can be won, if at all, only by converting the United States into a police state.
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I can spend somebody else's money on somebody else. And if I spend somebody else's money on somebody else, I'm not concerned about how much it is, and I'm not concerned about what I get. And that's government.
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Inflation is the one form of taxation that can be imposed without legislation.
Milton Friedman
Positive economics is in principle independent of any particular ethical position or normative judgment...In short, positive economics is or can be an objective science.
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There's no point in comparing an actual, operating system with an ideal system that doesn't exist.
Milton Friedman
In a bureaucratic system, useless work drives out useful work.
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What's the difference? How can people be so inconsistent? Why is it that free immigration was a good thing before 1914 and free immigration is a bad thing today? Well, there is a sense in which that answer is right. There's a sense in which free immigration, in the same sense as we had it before 1914 is not possible today. Why not?
Milton Friedman
How do you hold down government spending?
Milton Friedman
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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Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.
Milton Friedman
