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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
Create
Powerful
Wrong
Money
Right
Havoc
Thing
Hardly
Notice
Goes
More quotes by Milton Friedman
The euro is going to be a big source of problems, not a source of help.
Milton Friedman
Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest.
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.
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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
Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
Milton Friedman
Our emphasis here is based not only on the growing seriousness of drug-related crimes, but also on the belief that relieving our police and our courts from having to fight losing battles against drug use will enable their energies and facilities to be devoted more fully to combating other forms of crime.
Milton Friedman
The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
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
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.
Milton Friedman
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
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
Is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed?
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.
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It all would have been much better if individuals saved for their own old age.
Milton Friedman
There is one and only one social responsibility of business - to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.
Milton Friedman
Nobody spends somebody else's money as carefully as he spends his own.
Milton Friedman
The problem in this world is to avoid concentration of power - we must have a dispersion of power.
Milton Friedman
Underlying most arguments against the free market is a lack of belief in freedom itself.
Milton Friedman
Cutting government spending and government intrusion in the economy will almost surely involve immediate gain for the many, short-term pain for the few, and long-term gain for all.
Milton Friedman
So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.
Milton Friedman
