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It doesn't worry me a bit that China and Japan hold so much US debt. In a way, it seems foolish for them to do it because they get lower returns than they might elsewhere. But that is their business.
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
Seems
Debt
Might
China
Much
Return
Way
Hold
Returns
Bits
Elsewhere
Worry
Lower
Business
Japan
Doesn
Foolish
More quotes by Milton Friedman
It's a moral problem that the government is making into criminals people, who may be doing something you and I don't approve of, but who are doing something that hurts nobody else.
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Education spending will be most effective if it relies on parental choice & private initiative -- the building blocks of success throughout our society.
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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.
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Inflation is always and everywhere a monetary phenomenon.
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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.
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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.
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Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest.
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I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible. ... because I believe the big problem is not taxes, the big problem is spending.
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What central banks can control is a base and one way they can control the base is via manipulating a particular interest rate, such as a Federal Funds rate, the overnight rate at which banks lend to one another. But they use that control to control what happens to the quantity of money. There is no disagreement.
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Everywhere, and at all times, economic progress has meant far more to the poor than to the rich.
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When you start paying people to be poor, you wind up with an awful lot of poor people.
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The euro is going to be a big source of problems, not a source of help.
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There is only one social responsibility of business
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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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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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[T]he burden of government is not measured by how much it taxes, but by how much it spends.
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How did we make the transition from using wood to using coal, from using coal to using oil, from using oil to using natural gas? How in God's name did we make that transition without a Federal Energy Agency?
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The great achievements of civilization have not come from government bureaus.
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The excuse for the destruction of liberty is always the plea of necessary ' that there is no alternative
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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
