Quote

It all would have been much better if individuals saved for their own old age.

Milton Friedman

Change background

T
T
T

Change font

TAGS & TOPICS

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
Individual
Better
Much
Would
Individuals
Saved
Age

More quotes by Milton Friedman

Image
The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. Yet it is largely a result of minimum wage laws. We regard the minimum wage law as one of the most, if not the most, anti-black laws on the statute books.
Milton Friedman
Image
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.
Milton Friedman
Image
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
Image
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
Image
There is no place for government to prohibit consumers from buying products the effect of which will be to harm themselves.
Milton Friedman
Image
Concentrated power is not rendered harmless by the good intentions of those who create it.
Milton Friedman
Image
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.
Milton Friedman
Image
There's no way to avoid a burden on your freedom. The costs themselves are a burden on your freedom. The restrictions that are necessary in order to get rid of the terrorists are a burden to your freedom. So there's no way in the short run to avoid a restriction on your freedom.
Milton Friedman
Image
Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us.
Milton Friedman
Image
Saying it is one thing. Doing it is very different.
Milton Friedman
Image
I can spend somebody else's money on somebody else. And if I spend somebody else's money on somebody else, I'm not concerned about how much it is, and I'm not concerned about what I get. And that's government.
Milton Friedman
Image
Look, for example, at the obvious, immediate, practical example of illegal Mexican immigration. Now, that Mexican immigration, over the border, is a good thing. It's a good thing for the illegal immigrants. It's a good thing for the United States. It's a good thing for the citizens of the country. But, it's only good so long as its illegal....
Milton Friedman
Image
The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially been set up to do.
Milton Friedman
Image
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.
Milton Friedman
Image
To the free man, the country is the collection of individuals who compose it, not something over and above them.
Milton Friedman
Image
The state of our educational system is a disgrace to our country. We have an elementary and secondary school system in which close to half of the youngsters never graduate properly. It's a disgrace that there is more illiteracy today than there was 100 years ago.
Milton Friedman
Image
Inflation is taxation without legislation.
Milton Friedman
Image
As a nation, we have been responsible for the murder of literally hundreds of thousands of people at home and abroad by fighting a war that should never have been started and can be won, if at all, only by converting the United States into a police state.
Milton Friedman
Image
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
Image
I would say that in this world, the greatest source of inequality has been special privileges granted by government.
Milton Friedman