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Germany's problem, in part, is that it went into the euro at the wrong exchange rate that overvalued the deutsche mark.

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
Exchange
Germany
Rate
Mark
Went
Wrong
Deutsche
Part
Overvalued
Problem
Euro

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There is not a line in 'The Wealth of Nations' that is not still applicable to this day.
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The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. Yet it is largely a result of minimum wage laws. We regard the minimum wage law as one of the most, if not the most, anti-black laws on the statute books.
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You can only make money if you buy a product, whatever it is - maybe a currency, maybe wheat and maybe something else - at a relatively low price and sell it at a higher price than you buy it at. There's no other way to make money.
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The heart of the liberal philosophy is a belief in the dignity of the individual, in his freedom to make the most of his capacities and opportunities according to his own lights.
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Freedom means diversity but also mobility. It preserves the opportunity for today's disadvantaged to become tomorrow's privileged and, in the process, enables almost everyone, from top to bottom, to enjoy a fuller and richer life.
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Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
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The euro is going to be a big source of problems, not a source of help.
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The broader and more influential organisations of businessmen have acted to undermine the basic foundation of the free market system they purport to represent and defend.
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The world runs on individuals pursuing their self interests. The great achievements of civilization have not come from government bureaus. Einstein didn't construct his theory under order from a bureaucrat. Henry Ford didn't revolutionize the automobile industry that way.
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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.
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The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes.
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Look, for example, at the obvious, immediate, practical example of illegal Mexican immigration. Now, that Mexican immigration, over the border, is a good thing. It's a good thing for the illegal immigrants. It's a good thing for the United States. It's a good thing for the citizens of the country. But, it's only good so long as its illegal....
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There's no point in comparing an actual, operating system with an ideal system that doesn't exist.
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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.
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You mustn't judge a politician by talk. You have to judge them by performance.
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