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Money is a very powerful thing, which you hardly notice when it goes right, but which can create havoc when it goes wrong.
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
Wrong
Money
Right
Havoc
Thing
Hardly
Notice
Goes
Create
Powerful
More quotes by Milton Friedman
Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.
Milton Friedman
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.
Milton Friedman
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
The invisible hand in politics operates in the opposite direction to the invisible hand in the market.
Milton Friedman
When you start paying people to be poor, you wind up with an awful lot of poor people.
Milton Friedman
There's a smokestack on the back of every government program.
Milton Friedman
Concentrated power is not rendered harmless by the good intentions of those who create it.
Milton Friedman
Inflation is always and everywhere a monetary phenomenon.
Milton Friedman
It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society.
Milton Friedman
Positive economics is in principle independent of any particular ethical position or normative judgment...In short, positive economics is or can be an objective science.
Milton Friedman
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
The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.
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
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
You mustn't judge a politician by talk. You have to judge them by performance.
Milton Friedman
The only reason free markets have a ghost of a chance is that they are so much more efficient than any other form of organization.
Milton Friedman
I think that nothing is so important for freedom as recognizing in the law each individual’s natural right to property, and giving individuals a sense that they own something that they’re responsible for, that they have control over, and that they can dispose of.
Milton Friedman
How can we keep the government we create from becoming a Frankenstein that will destroy the very freedom we establish it to protect? Freedom is a rare and delicate plant.
Milton Friedman
They think that the cure to big government is to have bigger government... the only effective cure is to reduce the scope of government - get government out of the business.
Milton Friedman
The long-range sloution to high unemployment is to increase the incentive for ordinary people to save, invest, work, and employ others. We make it costly for employers to employ people we subsidize people not to go to work We have a system that increasingly taxes work and subsidizes nonwork.
Milton Friedman
