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What makes it [economics] most fascinating is that its fundamental principles are so simple that they can be written on one page, that anyone can understand them, and yet very few do.
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
Simple
Page
Understand
Fundamental
Makes
Fundamentals
Economics
Pages
Principles
Written
Anyone
Fascinating
More quotes by Milton Friedman
Economists may not know how to run the economy, but they know how to create shortages or gluts simply by regulating prices below the market, or artificially supporting them from above.
Milton Friedman
Whenever you try to do good with someone else's money, you are committed to using force. How can you do good with somebody else's money, unless you first take it away from them? The only way you can take it away from them is the threat of force: you have a policeman, tax collector, who comes and takes it from them.
Milton Friedman
Saying it is one thing. Doing it is very different.
Milton Friedman
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.
Milton Friedman
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
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
It all would have been much better if individuals saved for their own old age.
Milton Friedman
There's no way to avoid a burden on your freedom. The costs themselves are a burden on your freedom. The restrictions that are necessary in order to get rid of the terrorists are a burden to your freedom. So there's no way in the short run to avoid a restriction on your freedom.
Milton Friedman
I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression.
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
I am a limited-government libertarian.
Milton Friedman
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.
Milton Friedman
Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.
Milton Friedman
The big problem for a democratic government - democrat with a small d - is how to hold down government spending.
Milton Friedman
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
The evidence of history speaks with a single voice. I do not know any exception to the proposition that if you compare like with like, the freer the system, the better off the ordinary poor people have been.
Milton Friedman
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.
Milton Friedman
Concentrated power is not rendered harmless by the good intentions of those who create it.
Milton Friedman
My interest in political philosophy was rather casual until I met Hayek.
Milton Friedman
The future of private enterprise capitalism is also the future of a free society. There is no possibility of having a politically free society unless the major part of its economic resources are operated under a capitalistic private enterprise system.
Milton Friedman
