Quote

The use of quantity of money as a target has not been a success. I'm not sure that I would as of today push it as hard as I once did.

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
Success
Use
Money
Today
Hard
Quantity
Would
Target
Push
Sure

More quotes by Milton Friedman

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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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Every friend of freedom... must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence.
Milton Friedman
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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.
Milton Friedman
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Governments never learn. Only people learn.
Milton Friedman
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The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
Milton Friedman
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Since the 1930s the technique of buying votes with the voters' own money has been expanded to an extent undreamed of by earlier politicians.
Milton Friedman
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There is not a line in 'The Wealth of Nations' that is not still applicable to this day.
Milton Friedman
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The combination of economic and political power in the same hands is a sure recipe for tyranny.
Milton Friedman
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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
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We had much freer trade in the 19th century. We have much less globalization now than we did then.
Milton Friedman
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Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us.
Milton Friedman
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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.
Milton Friedman
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Pick at random any three letters from the alphabet, put them in any order, and you will have an acronym designating a federal agency we can do without.
Milton Friedman
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Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been. And because of our efforts, we have earned our salaries ten-thousand fold.
Milton Friedman
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See, if you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That's literally true.
Milton Friedman
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Political leaders in capitalist countries who cheer the collapse of socialism in other countries continue to favor socialist solutions in their own. They know the words, but they have not learned the tune.
Milton Friedman
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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.
Milton Friedman
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To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.
Milton Friedman
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The invisible hand in politics operates in the opposite direction to the invisible hand in the market.
Milton Friedman
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You mustn't judge a politician by talk. You have to judge them by performance.
Milton Friedman