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The history of mankind is the history of money losing value.

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
Losing
Value
Mankind
Values
History
Money

More quotes by Milton Friedman

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Anybody who was easily converted was not worth converting.
Milton Friedman
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I am convinced that the minimum-wage law is the most anti-Negro law on our statute books in its effect, not its intent.
Milton Friedman
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And where are you going to get these angels who are going to run society for us?
Milton Friedman
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Speeches by businessmen on social responsibility...may gain them kudos in the short run. But it helps to strengthen the already too prevalent view that the pursuit of profits is wicked.... There is one and only one social responsibility of business-to...engage in open and free competition without deception or fraud.
Milton Friedman
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Rich people are the experimental ground for every new development. The nature of progress is that what begins as a luxury for the rich becomes a necessity for the poor as it's developed and passed on.
Milton Friedman
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Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one.
Milton Friedman
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There's no such thing as a free lunch.
Milton Friedman
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If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.
Milton Friedman
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What central banks can control is a base and one way they can control the base is via manipulating a particular interest rate, such as a Federal Funds rate, the overnight rate at which banks lend to one another. But they use that control to control what happens to the quantity of money. There is no disagreement.
Milton Friedman
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Since the 1930s the technique of buying votes with the voters' own money has been expanded to an extent undreamed of by earlier politicians.
Milton Friedman
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Pick at random any three letters from the alphabet, put them in any order, and you will have an acronym designating a federal agency we can do without.
Milton Friedman
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Concentrated power is not rendered harmless by the good intentions of those who create it.
Milton Friedman
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The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
Milton Friedman
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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.
Milton Friedman
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The big problem for a democratic government - democrat with a small d - is how to hold down government spending.
Milton Friedman
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When you have a time of crisis what happens depends on what ideas are floating around, and what ideas have been developed, and thought through, and are made effective.
Milton Friedman
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The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.
Milton Friedman
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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.
Milton Friedman
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The proper role of government is exactly what John Stuart Mill said in the middle of the 19th century in On Liberty. The proper role of government is to prevent other people from harming an individual. Government, he said, never has any right to interfere with an individual for that individual's own good.
Milton Friedman
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How can thinking people believe that a government that cannot deliver the mail can deliver gas better than Exxon, Mobil, Texaco, Gulf, and the rest?
Milton Friedman