Milton Friedman Quotes

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Milton Friedman

Profession : Economist

Birth : July 31, 1912

The only relevant test of the validity of a hypothesis is comparison of prediction with experience.

Milton Friedman

We have a system that increasingly taxes work and subsidizes nonwork.

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

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

When government - in pursuit of good intentions - tries to rearrange the economy, legislate morality, or help special interests, the cost come in inefficiency, lack of motivation, and loss of freedom. Government should be a referee, not an active player.

Milton Friedman

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.

Milton Friedman

History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.

Milton Friedman

There's no such thing as a free lunch.

Milton Friedman

Nothing is so permanent as a temporary government program.

Milton Friedman

Inflation is taxation without legislation.

Milton Friedman

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.

Milton Friedman

The government solution to a problem is usually as bad as the problem.

Milton Friedman

Inflation is the one form of taxation that can be imposed without legislation.

Milton Friedman

I think that the Internet is going to be one of the major forces for reducing the role of government. The one thing that's missing, but that will soon be developed, is a reliable e-cash - a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A.

Milton Friedman

Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.

Milton Friedman

One man's opportunism is another man's statesmanship.

Milton Friedman

I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.

Milton Friedman

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.

Milton Friedman

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.

Milton Friedman

Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect citizens from crimes against themselves or their property.

Milton Friedman