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In the current world, with the skills needed, dropouts [like no secondary education] are condemned to being members of the underclass. In my view, this is a fault of the American school system, which is a government monopoly.

Milton Friedman

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Milton Friedman
Age: 94 †
Born: 1912
Born: July 31
Died: 2006
Died: November 16
Economist
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Statistician
University Teacher
Writer
Brooklyn
New York
Milton Fridman
American
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School
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More quotes by Milton Friedman

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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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Rapid increases in the quantity of money produce inflation. Sharp decreases produce depression.
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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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A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.
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Economic freedom is ... an indispensable means toward the achievement of political freedom.
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Not all schooling is education nor all education, schooling.
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No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation.
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And where are you going to get these angels who are going to run society for us?
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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 use of quantity of money as a target has not been a success. I'm not sure that I would as of today push it as hard as I once did.
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I think in some ways it would make more sense to have as a poverty level a relative concept and say, the level of poverty is that level of income or that level of consumption below which 10 percent of the people now are.
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Only a crisis, actual or perceived, produces real change.
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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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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 argument for collectivism is simple free market is not.
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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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A society that aims for equality before liberty will end up with neither equality nor liberty. And a society that aims first for liberty will not end up with equality, but it will end up with a closer approach to equality than any other kind of system that has ever been developed.
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The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
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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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George Stigler was a delightful correspondent. In a letter from London in 1948, after remarking on the inconvertibility of the pound and the inedible, still-rationed food, he concluded, So here I am losing weight and gaining pounds.
Milton Friedman