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How do you hold down government spending?

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
Government
Spending
Hold

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The great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government.
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One man's opportunism is another man's statesmanship.
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Our emphasis here is based not only on the growing seriousness of drug-related crimes, but also on the belief that relieving our police and our courts from having to fight losing battles against drug use will enable their energies and facilities to be devoted more fully to combating other forms of crime.
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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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There's no such thing as a free lunch.
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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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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 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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The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
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You never can cure poverty. Poverty is in the eye of the beholder.
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See, if you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That's literally true.
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So that the record of history is absolutely crystal clear that there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free-enterprise system.
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Saying it is one thing. Doing it is very different.
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Anybody who was easily converted was not worth converting.
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In a free society, it is hard for 'good' people to do 'good', but that is a small price to pay for making it hard for 'evil' people to do 'evil', especially since one man's good is another's evil
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So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.
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There's no point in comparing an actual, operating system with an ideal system that doesn't exist.
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There is not a line in 'The Wealth of Nations' that is not still applicable to this day.
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The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.
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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.
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