Milton Friedman

Photo of Milton Friedman
Milton Friedman (July 31, 1912 – November 16, 2006) 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. With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward. Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, and Robert Lucas, Jr. Friedman's challenges to what he later called "naive Keynesian" theory began with his 1950s reinterpretation of the consumption function. In the 1960s, he became the main ad... More

Wikipedia

Milton Friedman Quotes

Milton Friedman #Society

Photo of 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 #Experience

Photo of Milton Friedman The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
Milton Friedman #Finance

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

Photo of Milton Friedman Inflation is taxation without legislation.
Milton Friedman #Freedom

Photo of Milton Friedman 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.
Milton Friedman #Freedom

Photo of Milton Friedman 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 #Freedom #History

Photo of Milton Friedman History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
Milton Friedman #Good #Power

Photo of Milton Friedman Concentrated power is not rendered harmless by the good intentions of those who create it.
Milton Friedman #Good #Government #Politics

Photo of Milton Friedman Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.
Milton Friedman #Government

Photo of Milton Friedman The government solution to a problem is usually as bad as the problem.
Milton Friedman #Government

Photo of Milton Friedman Governments never learn. Only people learn.
Milton Friedman #Government

Photo of Milton Friedman Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.
Milton Friedman #Government #Great

Photo of 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 #Government

Photo of Milton Friedman Nothing is so permanent as a temporary government program.
Milton Friedman #Government

Photo of Milton Friedman 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.
Milton Friedman #Architecture #Government #Science

Photo of Milton Friedman The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.
Milton Friedman #Politics

Photo of Milton Friedman Hell hath no fury like a bureaucrat scorned.
Milton Friedman #Power

Photo of Milton Friedman The power to do good is also the power to do harm.
Milton Friedman #Society #Work

Photo of Milton Friedman We have a system that increasingly taxes work and subsidizes nonwork.
Milton Friedman #Freedom

Photo of Milton Friedman 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.
Milton Friedman #Freedom

Photo of Milton Friedman Underlying most arguments against the free market is a lack of belief in freedom itself.
Milton Friedman #Government #History

Photo of 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 #Government #Politics

Photo of Milton Friedman If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.
Milton Friedman #Government #Great

Photo of 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 #Work

Photo of Milton Friedman Most of the energy of political work is devoted to correcting the effects of mismanagement of government.