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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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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
War
Wells
Well
Time
Efficiently
Price
Aware
Works
Military
More quotes by 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
A society that aims for equality before liberty will end up with neither equality nor liberty. And a society that aims first for liberty will not end up with equality, but it will end up with a closer approach to equality than any other kind of system that has ever been developed.
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
When everybody owns something, nobody owns it, and nobody has a direct interest in maintaining or improving its condition. That is why buildings in the Soviet Union - like public housing in the United States - look decrepit within a year or two of their construction.
Milton Friedman
When a private enterprise fails, it is closed down when a government enterprise fails, it is expanded. Isn't that exactly what's been happening with drugs?
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
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
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
The Great Depression in the United States, far from being a sign of the inherent instability of the private enterprise system, is a testament to how much harm can be done by mistakes on the part of a few men when they wield vast power over the monetary system of the country.
Milton Friedman
The government solution to a problem is usually as bad as the problem.
Milton Friedman
The existence of a free market does not of course eliminate the need for government. On the contrary, government is essential both as a forum for determining the rule of the game and as an umpire to interpret and enforce the rules decided on.
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.
Milton Friedman
The great achievements of civilization have not come from government bureaus.
Milton Friedman
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
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
The word 'free' is used three times in the Declaration of Independence and once in the First Amendment to the Constitution, along with 'freedom.' The word 'fair' is not used in either of our founding documents.
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
We measure poverty by what I believe is a very, very crude concept. We actually measure poverty by trying to get some kind of an estimate of the minimum expenditures on food that are required to maintain health, multiplying that number by three, and saying that's the level of poverty. And it's a very crude, inaccurate arrangement.
Milton Friedman
The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken.
Milton Friedman
Every friend of freedom... must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence.
Milton Friedman