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I would say that in this world, the greatest source of inequality has been special privileges granted by government.

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
Would
Privileges
World
Inequality
Granted
Privilege
Source
Greatest
Special
Government

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Freedom is a rare and delicate plant. Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power.
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If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.
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No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.
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I am a limited-government libertarian.
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Nobody spends somebody else's money as carefully as he spends his own.
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There is only one social responsibility of business
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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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[Trade licensing] almost inevitably becomes a tool in the hands of a special producer group to maintain a monopoly position at the expense of the rest of the public. There is no way to avoid this result.
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World trade depends on differences among countries, not similarities. Different countries are in different stages of development. It is appropriate for them to have different patterns, different policies for ecology, labor standards, and so forth.
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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.
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The Internet moves us closer to perfect information on markets. Individuals and companies alike can buy and sell across borders and jurisdictions wherever they find the best match of supply and demand.
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My interest in political philosophy was rather casual until I met Hayek.
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History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
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Economists may not know how to run the economy, but they know how to create shortages or gluts simply by regulating prices below the market, or artificially supporting them from above.
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Freedom means diversity but also mobility. It preserves the opportunity for today's disadvantaged to become tomorrow's privileged and, in the process, enables almost everyone, from top to bottom, to enjoy a fuller and richer life.
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Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.
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When a private enterprise fails, it is closed down when a government enterprise fails, it is expanded. Isn't that exactly what's been happening with drugs?
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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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Concentrated power is not rendered harmless by the good intentions of those who create it.
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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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