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The current oil crisis has not been produced by the oil companies. It is a result of governmental mismanagement exacerbated by the Mideast war.
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
Current
Companies
Crisis
Mideast
Result
Exacerbated
Results
Mismanagement
Company
Governmental
War
Produced
Government
Oil
More quotes by Milton Friedman
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.
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.
Milton Friedman
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
To the free man, the country is the collection of individuals who compose it, not something over and above them.
Milton Friedman
Whenever you try to do good with someone else's money, you are committed to using force. How can you do good with somebody else's money, unless you first take it away from them? The only way you can take it away from them is the threat of force: you have a policeman, tax collector, who comes and takes it from them.
Milton Friedman
You mustn't judge a politician by talk. You have to judge them by performance.
Milton Friedman
Is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed?
Milton Friedman
There's a smokestack on the back of every government program.
Milton Friedman
By encouraging men to spy and report on one another, by making it in the private interest of large numbers of citizens to evade the controls, and by making actions illegal that are in the public interest, the controls undermine individual morality.
Milton Friedman
I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.
Milton Friedman
Money is a very powerful thing, which you hardly notice when it goes right, but which can create havoc when it goes wrong.
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. . I think the Adam Smith role was played in this cycle i.e. the late twentieth century collapse of socialism in which the idea of free-markets succeeded first, and then special events catalyzed a complete change of socio-political policy in countries around the world by Friedrich Hayek's The Road to Serfdom.
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The fall of the Berlin Wall really demonstrated beyond the shadow of a doubt that there was a bad system, and what subsequently happened in the Soviet Union, that that system was a failure.
Milton Friedman
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
Inflation is always and everywhere a monetary phenomenon.
Milton Friedman
How do you hold down government spending?
Milton Friedman
The great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government.
Milton Friedman
Individual price and wage changes will not be prevented. In the main, price changes will simply be concealed by taking the form of changes in discounts, service, and quality, and wage changes, in overtime, perquisites and so on…. But to whatever extent the freeze is enforced, it will do harm by distorting relative prices.
Milton Friedman
Spending by government currently amounts to about 45 percent of national income. By that test, government owns 45 percent of the means of production that produce the national income. The U.S. is now 45 percent socialist.
Milton Friedman
The history of mankind is the history of money losing value.
Milton Friedman
