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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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Free
China
Political
Level
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More quotes by Milton Friedman
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
Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
Milton Friedman
Economic freedom is ... an indispensable means toward the achievement of political freedom.
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We have a freer world because of the collapse of the Soviet Union and the changes in China. Those two have been the main contributors to freedom in our time.
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I do not believe there is a natural resource economics. I believe there is good economics and bad economics.
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Statistics do not speak for themselves.
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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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Inflation is the one form of taxation that can be imposed without legislation.
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A crackpot theory. Instead of saying labor's exploited, as Marx did, Kelso says capital's exploited. It's worse than Marx. It's Marx stood on its head.
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The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken.
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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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The existence of a free market does not of course eliminate the need for government. On the contrary, government is essential both as a forum for determining the rule of the game and as an umpire to interpret and enforce the rules decided on.
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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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The facts never speak for themselves. They have to be interpreted in terms of some understanding of where they come from and what the relation between them is.
Milton Friedman
Is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed?
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One man's opportunism is another man's statesmanship.
Milton Friedman
A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.
Milton Friedman
Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.
Milton Friedman
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?
Milton Friedman
Inflation is always and everywhere a monetary phenomenon.
Milton Friedman
