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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
Still
Levels
Come
Side
Sides
Economic
Free
Lows
Political
China
Ends
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Growth
More quotes by Milton Friedman
You mustn't judge a politician by talk. You have to judge them by performance.
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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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I do not believe there is a natural resource economics. I believe there is good economics and bad economics.
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We had much freer trade in the 19th century. We have much less globalization now than we did then.
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When everybody owns something, nobody owns it, and nobody has a direct interest in maintaining or improving its condition. That is why buildings in the Soviet Union - like public housing in the United States - look decrepit within a year or two of their construction.
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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.
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The free market is not only a more efficient decision maker than even the wisest central planning body, but even more important, the free market keeps economic power widely dispersed.
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If instead of looking at income, you look at levels of consumption, if anything that's become more equal. The fraction of families that have a dishwasher, that have a sewing machine, that have a television set. In respect to consumption, it's very hard to avoid the view that people have been getting more equal rather than more unequal.
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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 combination of economic and political power in the same hands is a sure recipe for tyranny.
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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.
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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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If the only motive was to help people who could not afford education, advocates of government involvement would have simply proposed tuition subsidies.
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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.
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Whenever we depart from voluntary cooperation and try to do good by using force, the bad moral value of force triumphs over good intentions.
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The history of mankind is the history of money losing value.
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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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The only corporate social responsibility a company has is to maximize its profits.
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I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression.
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You cannot simultaneously have free immigration and a welfare state.
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