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If China don't free up the political side, its economic growth will come to an end - while it is still at a very low level.
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
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Economic
Free
Lows
Political
China
Ends
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More quotes by Milton Friedman
The price works so well, so efficiently, that we are not aware of it most of the time.
Milton Friedman
The growing role that the government has played in financing and administering schooling has led not only the enormous waste of taxpayers money but also to a far poorer educational system.
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The invisible hand in politics operates in the opposite direction to the invisible hand in the market.
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Rich people are the experimental ground for every new development. The nature of progress is that what begins as a luxury for the rich becomes a necessity for the poor as it's developed and passed on.
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What's the difference? How can people be so inconsistent? Why is it that free immigration was a good thing before 1914 and free immigration is a bad thing today? Well, there is a sense in which that answer is right. There's a sense in which free immigration, in the same sense as we had it before 1914 is not possible today. Why not?
Milton Friedman
The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.
Milton Friedman
The history of mankind is the history of money losing value.
Milton Friedman
There is no place for government to prohibit consumers from buying products the effect of which will be to harm themselves.
Milton Friedman
There's a smokestack on the back of every government program.
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Inflation is taxation without legislation.
Milton Friedman
Nobody spends somebody else's money as carefully as he spends his own.
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By encouraging men to spy and report on one another, by making it in the private interest of large numbers of citizens to evade the controls, and by making actions illegal that are in the public interest, the controls undermine individual morality.
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The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.
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The Founding Fathers envisioned a federal government that trusts its people with their money and freedom, outlining this limited, non-intrusive federal government in...the Constitution, leaving the other powers to people...or to the states.
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On aging societies, there is no reason why a country that has a lot of old people can't be prosperous if, during their working lives, individuals provide for their retirement.
Milton Friedman
To the free man, the country is the collection of individuals who compose it, not something over and above them... He recognizes no national goal except as it is the consensus of the goals that the citizens severally serve. He recognizes no national purpose except as it is the consensus of the purposes for which the citizens severally strive.
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You never can cure poverty. Poverty is in the eye of the beholder.
Milton Friedman
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.
Milton Friedman
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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If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.
Milton Friedman
