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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.
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
Thinking
Percent
People
Levels
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Relative
Sense
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Would
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Think
Poverty
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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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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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Freedom in economic arrangements is itself a component of freedom broadly understood, so economic freedom is an end in itself ... Economic freedom is also an indispensable means toward the achievement of political freedom.
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What works for Sweden wouldn't work for France or Germany or Italy. In a small state, you can reach outside for many of your activities. In a homogeneous culture, they are willing to pay higher taxes in order to achieve commonly held goals. But common goals are much harder to come by in larger, more heterogeneous populations.
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The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes.
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One of the great mistakes is to judge policies and programs by their intentions rather than their results.
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Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces the area over which political power is exercised.
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Positive economics is in principle independent of any particular ethical position or normative judgment...In short, positive economics is or can be an objective science.
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One man's opportunism is another man's statesmanship.
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How do you hold down government spending?
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Everywhere, and at all times, economic progress has meant far more to the poor than to the rich.
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There is no place for government to prohibit consumers from buying products the effect of which will be to harm themselves.
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To the free man, the country is the collection of individuals who compose it, not something over and above them... He recognizes no national goal except as it is the consensus of the goals that the citizens severally serve. He recognizes no national purpose except as it is the consensus of the purposes for which the citizens severally strive.
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If the only motive was to help people who could not afford education, advocates of government involvement would have simply proposed tuition subsidies.
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My interest in political philosophy was rather casual until I met Hayek.
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Is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed?
Milton Friedman
