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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
Money
Losing
Value
Mankind
Values
History

More quotes by Milton Friedman

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Inflation is taxation without legislation.
Milton Friedman
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There is only one social responsibility of business
Milton Friedman
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Fundamentally, there are only two ways of coordinating the economic activities of millions. One is central direction involving the use of coercion - the technique of the army and of the modern totalitarian state. The other is voluntary cooperation of individuals - the technique of the marketplace.
Milton Friedman
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The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.
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.
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The government solution to a problem is usually as bad as the problem.
Milton Friedman
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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.
Milton Friedman
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The most unresolved problem of the day is precisely the problem that concerned the founders of this nation: how to limit the scope and power of government. Tyranny, restrictions on human freedom, come primarily from governmental restrictions that we ourselves have set up.
Milton Friedman
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Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
Milton Friedman
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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.
Milton Friedman
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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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Everywhere, and at all times, economic progress has meant far more to the poor than to the rich.
Milton Friedman
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Economic freedom is ... an indispensable means toward the achievement of political freedom.
Milton Friedman
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Individual price and wage changes will not be prevented. In the main, price changes will simply be concealed by taking the form of changes in discounts, service, and quality, and wage changes, in overtime, perquisites and so on…. But to whatever extent the freeze is enforced, it will do harm by distorting relative prices.
Milton Friedman
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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?
Milton Friedman
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Whenever you try to do good with someone else's money, you are committed to using force. How can you do good with somebody else's money, unless you first take it away from them? The only way you can take it away from them is the threat of force: you have a policeman, tax collector, who comes and takes it from them.
Milton Friedman
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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
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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.
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
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Germany's problem, in part, is that it went into the euro at the wrong exchange rate that overvalued the deutsche mark.
Milton Friedman