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Milton Friedman quotes

American Economist July 31, 1912 – November 16, 2006

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A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself. Milton Friedman
Milton Friedman quote: "Most of the energy of political work is devoted to correcting..."
Most of the energy of political work is devoted to correcting the effects of mismanagement of government. Milton Friedman
Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes. Milton Friedman
Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been.? And because of our efforts, we have earned our salaries ten-thousand fold. Milton Friedman
The key insight of Adam Smith's Wealth of Nations is misleadingly simple: if an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another. Milton Friedman
The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system. Milton Friedman
And what does reward virtue? You think the communist commissar rewards virtue? You think a Hitler rewards virtue? You think, excuse me, if you'll pardon me, American presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of their political clout? Milton Friedman
Well first of all, tell me, 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
Milton Friedman quote: "Silence was pleased."
Silence was pleased. Milton Friedman
Milton Friedman quote: "History suggests that capitalism is a necessary condition for..."
History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition. Milton Friedman
Milton Friedman quote: "Governments never learn. Only people learn."
Governments never learn. Only people learn. Milton Friedman
Milton Friedman quote: "One of the great mistakes is to judge policies and programs by..."
One of the great mistakes is to judge policies and programs by their intentions rather than their results. Milton Friedman
The existence of a free market does not of course eliminate the need for government. On the contrary, government is essential both as a forum for determining the "rule of the game" and as an umpire to interpret and enforce the rules decided on. Milton Friedman
Milton Friedman quote: "Underlying most arguments against the free market is a lack of..."
Underlying most arguments against the free market is a lack of belief in freedom itself. Milton Friedman
Milton Friedman quote: "We have a system that increasingly taxes work and subsidizes..."
We have a system that increasingly taxes work and subsidizes nonwork. Milton Friedman

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