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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
Problem
Euro
Exchange
Germany
Rate
Mark
Went
Wrong
Deutsche
Part
Overvalued

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You mustn't judge a politician by talk. You have to judge them by performance.
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How can thinking people believe that a government that cannot deliver the mail can deliver gas better than Exxon, Mobil, Texaco, Gulf, and the rest?
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A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.
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Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.
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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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The great achievements of civilization have not come from government bureaus.
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Making prohibition work is like making water run uphill it's against nature.
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It all would have been much better if individuals saved for their own old age.
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The Internet moves us closer to perfect information on markets. Individuals and companies alike can buy and sell across borders and jurisdictions wherever they find the best match of supply and demand.
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Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around.
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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.
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Now that I'm 60, every morning I look in the mirror and say, I don't know who you are, stranger, but I'm gonna shave you anyway.
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No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.
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The most unresolved problem of the day is precisely the problem that concerned the founders of this nation: how to limit the scope and power of government. Tyranny, restrictions on human freedom, come primarily from governmental restrictions that we ourselves have set up.
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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.
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I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.
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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.
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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 proper role of government is exactly what John Stuart Mill said in the middle of the 19th century in On Liberty. The proper role of government is to prevent other people from harming an individual. Government, he said, never has any right to interfere with an individual for that individual's own good.
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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.
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