Share
×
Inspirational Quotes
Authors
Professions
Topics
Tags
Quote
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
Share
Change background
T
T
T
Change font
Original
TAGS & TOPICS
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
Amount
Productions
Means
Test
Government
Tests
Mean
Income
Owns
Spending
Currently
National
Amounts
Produce
Socialist
Percent
Production
More quotes by 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
Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.
Milton Friedman
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.
Milton Friedman
What does it mean to say that government might have a responsibility? Government can't have a responsibility any more than the business can. The only entities which can have responsibilities are people.
Milton Friedman
Germany cannot get out of the euro. What it has to do, therefore, is make the economy more flexible - to eliminate the restrictions on prices, on wages and on employment in short, the regulations that keep 10 percent of the German workforce unemployed.
Milton Friedman
The unions might be good for the people who are in the unions but it doesn't do a thing for the people who are unemployed. Because the union keeps down the number of jobs, it doesn't do a thing for them.
Milton Friedman
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.
Milton Friedman
Had drugs been decriminalized, crack would never have been invented and there would today be fewer addicts... The ghettos would not be drug-and-crime-infested no-man's lands... Colombia, Bolivia and Peru would not be suffering from narco-terror, and we would not be distorting our foreign policy because of it.
Milton Friedman
No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.
Milton Friedman
My interest in political philosophy was rather casual until I met Hayek.
Milton Friedman
The combination of economic and political power in the same hands is a sure recipe for tyranny.
Milton Friedman
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
[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
You never can cure poverty. Poverty is in the eye of the beholder.
Milton Friedman
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.
Milton Friedman
A society based on the freedom to choose is better than a society based on the principles of socialism, communism and coercion.
Milton Friedman
No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation.
Milton Friedman
When you have a time of crisis what happens depends on what ideas are floating around, and what ideas have been developed, and thought through, and are made effective.
Milton Friedman
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.
Milton Friedman
A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
Milton Friedman