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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?

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
Names
Coal
Natural
Transition
Energy
Agency
Government
Federal
Without
Oil
Make
Woods
Using
Gas
Name
Wood

More quotes by Milton Friedman

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What central banks can control is a base and one way they can control the base is via manipulating a particular interest rate, such as a Federal Funds rate, the overnight rate at which banks lend to one another. But they use that control to control what happens to the quantity of money. There is no disagreement.
Milton Friedman
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I am convinced that the minimum-wage law is the most anti-Negro law on our statute books in its effect, not its intent.
Milton Friedman
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I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.
Milton Friedman
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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.
Milton Friedman
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In a bureaucratic system, useless work drives out useful work.
Milton Friedman
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The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.
Milton Friedman
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I know of no severe depression, in any country or any time, that was not accompanied by a sharp decline in the stock of money, and equally of no sharp decline in the stock of money that was not accompanied by a severe depression.
Milton Friedman
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[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
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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.
Milton Friedman
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The price works so well, so efficiently, that we are not aware of it most of the time.
Milton Friedman
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Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces the area over which political power is exercised.
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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The great achievements of civilization have not come from government bureaus.
Milton Friedman
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Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.
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.
Milton Friedman
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The big issue is whether the United States will succeed in its venture of reshaping the Middle East. It is not clear to me that using military force is the way to do it. We should not have gone into Iraq. But we have.
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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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.
Milton Friedman
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Government is a way by which every individual believes he can live at the expense of everybody else.
Milton Friedman
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Now that I'm 60, every morning I look in the mirror and say, I don't know who you are, stranger, but I'm gonna shave you anyway.
Milton Friedman