Milton Friedman

Economist Theorist American 1912 – 2006

Developed monetarism and argued inflation is always a monetary phenomenon.

380 quotes

"Freedom is a rare thing, and most people don't appreciate it when they have it."
Freedom
"The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market."
"Prices are important not because money is important, but because they are a fast and effective system of communication."
Knowledge
"There's no such thing as a free lunch."
Truth
"One of the great mistakes is to judge policies and programs by their intentions rather than their results."
Wisdom
"Money is a mechanism for trading one thing for another."
Money
"If you want to love your neighbor, the best way is not to pass legislation that forces you to."
Kindness
"The most important single central fact about a free market is that no exchange takes place unless both parties benefit."
Freedom
"A society that puts equality before freedom will get neither."
Justice
"The problem of social organization is how to set up an arrangement under which you can induce people to do things."
Leadership
"Inflation is always and everywhere a monetary phenomenon."
"The great achievements of civilization have not come from government bureaus."
Creativity
"Most economic fallacies derive from the tendency to assume that there is a fixed pie."
Knowledge
"Concentrated power is not rendered harmless by the good intentions of those who wield it."
Power
"The role of government should be to protect liberty, not to redistribute wealth."
Politics
"Education is the most powerful weapon which you can use to change the world."
Education
"The greatest advances in civilization have come about through voluntary action."
Hope
"You cannot be sure you are right unless you understand the arguments against your position better than its proponents."
Wisdom
"Governments never learn. Only people learn."
History
"The businessman who wants to serve the public well has only one way to do so: make the best product at the lowest cost."
Work
"Most of the energy of political work is devoted to correcting the effects of misguided political work of the past."
Politics
"Everybody wants to save the earth; nobody wants to help mom do the dishes."
Humor
"I am convinced that more people could make more money from home than from any other place."
Success
"The lack of responsibility is the source of the social problems we face."
"You must distinguish between morality and legality."
"The most important thing to understand is that the key to economic growth is freedom."
Freedom
"Do not do unto others as you would have them do unto you. Their tastes may not be the same."
Kindness
"Prices work so well that we are not aware of how well they work."
Knowledge
"A society that does not make provision for the poor is neither rational nor moral."
Justice
"Spend enough time reading history and you realize that a lot of what you think is important is not."
History