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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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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
Poor
Passed
Nature
Luxury
Every
Begins
People
Ground
Development
Progress
Experimental
Becomes
Necessity
Rich
Developed
More quotes by Milton Friedman
In a free society, it is hard for 'good' people to do 'good', but that is a small price to pay for making it hard for 'evil' people to do 'evil', especially since one man's good is another's evil
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The only corporate social responsibility a company has is to maximize its profits.
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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 combination of economic and political power in the same hands is a sure recipe for tyranny.
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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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Statistics do not speak for themselves.
Milton Friedman
One man's opportunism is another man's statesmanship.
Milton Friedman
How did we make the transition from using wood to using coal, from using coal to using oil, from using oil to using natural gas? How in God's name did we make that transition without a Federal Energy Agency?
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Whenever we depart from voluntary cooperation and try to do good by using force, the bad moral value of force triumphs over good intentions.
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Not all schooling is education nor all education, schooling.
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There's no point in comparing an actual, operating system with an ideal system that doesn't exist.
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Governments never learn. Only people learn.
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The heart of the liberal philosophy is a belief in the dignity of the individual, in his freedom to make the most of his capacities and opportunities according to his own lights.
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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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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.
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What kind of society isn't structured on greed?
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World trade depends on differences among countries, not similarities. Different countries are in different stages of development. It is appropriate for them to have different patterns, different policies for ecology, labor standards, and so forth.
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The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.
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
The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.
Milton Friedman
