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Milton Friedman [1912-2006] American

Rank: 11
Economist

Milton Friedman was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

Government, Freedom, Politics, Finance, Work, Architecture, Education, Experience, Great, History, Knowledge, Money, Power, Science, Society

Quote	Tags	Rank
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.	Government, Great	101
There's no such thing as a free lunch.	Money	102
The most important single central fact about a free market is that no exchange takes place unless both parties benefit.		103
Nothing is so permanent as a temporary government program.	Government	104
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.	Government, Politics	105
Columbus did not seek a new route to the Indies in response to a majority directive.		106
The government solution to a problem is usually as bad as the problem.	Government	107
Hell hath no fury like a bureaucrat scorned.	Politics	108
Indeed, a major source of objection to a free economy is precisely that it... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.	Freedom	109
Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.	Government	110
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.		111
Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.	Government, Politics	112
Governments never learn. Only people learn.	Education	113
The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.	Government, Work	114
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.	Freedom	115
Every friend of freedom must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence.	Freedom	116
The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.	Architecture, Government, Science	117
Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.	Knowledge	118
The world runs on individuals pursuing their self interests. The great achievements of civilization have not come from government bureaus. Einstein didn't construct his theory under order from a, from a bureaucrat. Henry Ford didn't revolutionize the automobile industry that way.	Government	119
So that the record of history is absolutely crystal clear. That there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.	History	120
Underlying most arguments against the free market is a lack of belief in freedom itself.	Freedom	121
Concentrated power is not rendered harmless by the good intentions of those who create it.	Power	122
We have a system that increasingly taxes work and subsidizes nonwork.	Work	123
Inflation is taxation without legislation.	Finance	124
The only relevant test of the validity of a hypothesis is comparison of prediction with experience.	Experience	125
Most of the energy of political work is devoted to correcting the effects of mismanagement of government.	Government	126
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?		201
I'm in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.		202
History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.	Freedom	203
One man's opportunism is another man's statesmanship.		204
Is it really true that political self-interest is nobler somehow than economic self-interest?		205
Inflation is the one form of taxation that can be imposed without legislation.		206
I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.	Finance	207
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.		208
Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.		209
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?	Society	210
The power to do good is also the power to do harm.		211

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