Milton Friedman

Economist Theorist American 1912 – 2006

Developed monetarism and argued inflation is always a monetary phenomenon.

380 quotes

"Money is one form of freedom, but it's not the only form or necessarily the most important form."
Money
"Education is the most powerful tool we have for changing the world, yet it is also the most heavily controlled."
Education
"The role of government is to protect our rights, not to give us rights we do not have."
Justice
"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."
"The society that depends on the government has given up its freedom to itself."
Freedom
"There is no way in the world to solve this problem except through decentralization, competition, and individual responsibility."
Politics
"The essential function of the price system is to communicate information and coordinate activities."
"Political freedom is the goal, economic freedom is the means."
Freedom
"We are all connected by the market, whether we realize it or not."
"The school system as it stands is a monument to bureaucratic inefficiency."
Education
"Voluntary exchange is mutually beneficial to both parties."
"The most important source of individual freedom is not political freedom but economic freedom."
Freedom
"I prefer to think of the public sector as the sector that serves the public interest."
Politics
"Specialization requires exchange, and exchange is facilitated by prices."
"The difference between a dictatorship and a democracy is not in the power of the government, but in its limitation."
Politics
"Money is not the root of all evil; the lack of money is."
Money
"We have made the poor dependent on government, which then uses that dependence as a reason to maintain control."
Politics
"The only way to ensure quality is through competition and choice."
"A person who has nothing to say will find that saying it takes forever."
Wisdom
"The market operates on the basis of mutual benefit, not coercion."
"Government intervention in the market creates inefficiency, not efficiency."
Politics
"The best time to plant a tree is twenty years ago; the second best is now."
Time
"If you want to understand the economic system, you must understand the role of prices."
Knowledge
"The concentration of power in government grows in response to perceived crises."
Politics
"There is no more fundamental freedom than the freedom to choose."
Freedom
"The market is a mechanism for pooling the knowledge of millions of individuals."
"We must distinguish between the ideal and the feasible."
Wisdom
"The role of government should be limited to the protection of property rights and the enforcement of contracts."
Justice
"Inflation hurts the poor more than the rich because the poor have few alternatives."
"The student who has been exposed to only one view has not been exposed to an education."
Education