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It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society.

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
Deals
Aspects
Quality
Qualities
Nations
Population
Society
Market
True
Aspect
Whole
Depends
Great
Nation
Organize
Deal
Competitive

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The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
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Concentrated power is not rendered harmless by the good intentions of those who create it.
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China has seen a great deal of economic progress. It's certainly rather of a miracle. The growing role of the market in the economy will force China to open up its political system over time and to move toward a more democratic society. So taken as a whole, the one real failure in this whole business has been Russia.
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Only a crisis, actual or perceived, produces real change.
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Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been. And because of our efforts, we have earned our salaries ten-thousand fold.
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The problem in this world is to avoid concentration of power - we must have a dispersion of power.
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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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Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
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See, if you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That's literally true.
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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.
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