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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
Hard
Quantity
Would
Target
Push
Sure
Success
Use
Money
Today

More quotes by Milton Friedman

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Government is a way by which every individual believes he can live at the expense of everybody else.
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Underlying most arguments against the free market is a lack of belief in freedom itself.
Milton Friedman
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The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. Yet it is largely a result of minimum wage laws. We regard the minimum wage law as one of the most, if not the most, anti-black laws on the statute books.
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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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So that the record of history is absolutely crystal clear that there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free-enterprise system.
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It all would have been much better if individuals saved for their own old age.
Milton Friedman
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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.
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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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What kind of society isn't structured on greed?
Milton Friedman
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Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.
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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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If you look at the balance sheet, the US is heavily in debt. If you look at the income account - the amount of interest the US pays abroad - it is almost exactly equal to the amount of interest that it receives from abroad. American assets held abroad are earning a higher rate of return than foreign assets held here.
Milton Friedman
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If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.
Milton Friedman
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A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.
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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The big problem for a democratic government - democrat with a small d - is how to hold down government spending.
Milton Friedman
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We have a freer world because of the collapse of the Soviet Union and the changes in China. Those two have been the main contributors to freedom in our time.
Milton Friedman
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On aging societies, there is no reason why a country that has a lot of old people can't be prosperous if, during their working lives, individuals provide for their retirement.
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The facts never speak for themselves. They have to be interpreted in terms of some understanding of where they come from and what the relation between them is.
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Look, for example, at the obvious, immediate, practical example of illegal Mexican immigration. Now, that Mexican immigration, over the border, is a good thing. It's a good thing for the illegal immigrants. It's a good thing for the United States. It's a good thing for the citizens of the country. But, it's only good so long as its illegal....
Milton Friedman