Quote

The fall of the Berlin Wall really demonstrated beyond the shadow of a doubt that there was a bad system, and what subsequently happened in the Soviet Union, that that system was a failure.

Milton Friedman

Change background

T
T
T

Change font

TAGS & TOPICS

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
Doubt
Soviet
Happened
Union
Fall
Unions
Really
Shadow
Failure
Wall
Subsequently
Beyond
Demonstrated
System
Berlin

More quotes by Milton Friedman

Image
With some notable exceptions, businessmen favor free enterprise in general but are opposed to it when it comes to themselves.
Milton Friedman
Image
Nobody spends somebody else's money as carefully as he spends his own.
Milton Friedman
Image
The problem is that, in a world of floating exchange rates, as Italy was before the euro, if one country is subjected to a shock which requires it to cut wages, it cannot do so with a modern kind of control and regulation system. It is much easier to do it by letting the exchange rate change. Only one price has to change, instead of many.
Milton Friedman
Image
You never can cure poverty. Poverty is in the eye of the beholder.
Milton Friedman
Image
To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.
Milton Friedman
Image
. . I think the Adam Smith role was played in this cycle i.e. the late twentieth century collapse of socialism in which the idea of free-markets succeeded first, and then special events catalyzed a complete change of socio-political policy in countries around the world by Friedrich Hayek's The Road to Serfdom.
Milton Friedman
Image
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.
Milton Friedman
Image
Saying it is one thing. Doing it is very different.
Milton Friedman
Image
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.
Milton Friedman
Image
If the only motive was to help people who could not afford education, advocates of government involvement would have simply proposed tuition subsidies.
Milton Friedman
Image
The government solution to a problem is usually as bad as the problem.
Milton Friedman
Image
Education spending will be most effective if it relies on parental choice & private initiative -- the building blocks of success throughout our society.
Milton Friedman
Image
I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible. ... because I believe the big problem is not taxes, the big problem is spending.
Milton Friedman
Image
I am a limited-government libertarian.
Milton Friedman
Image
China's productive system draws upon the other East Asian countries to a great extent. The volume of trade is much larger than the net amount being exported from China. China needs substantial reserves to finance all that.
Milton Friedman
Image
Government is a way by which every individual believes he can live at the expense of everybody else.
Milton Friedman
Image
Not all schooling is education nor all education, schooling.
Milton Friedman
Image
Germany cannot get out of the euro. What it has to do, therefore, is make the economy more flexible - to eliminate the restrictions on prices, on wages and on employment in short, the regulations that keep 10 percent of the German workforce unemployed.
Milton Friedman
Image
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.
Milton Friedman
Image
History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
Milton Friedman