Milton Friedman

Economist Theorist American 1912 – 2006

Developed monetarism and argued inflation is always a monetary phenomenon.

380 quotes

"Concentrated power is the enemy of liberty and the enemy of the poor."
Justice
"Government is a tool and like all tools it can be used well or poorly."
Leadership
"The high rate of unemployment among teenagers in the United States is almost entirely due to the minimum wage law."
Work
"Education spending would be better managed through a voucher system than through government bureaucracy."
Education
"The real question is not whether government planning is needed but whether it will succeed."
Politics
"A person who has had a chance to see the difference between a controlled and an uncontrolled economy will understand the meaning of freedom."
Freedom
"Freer markets produce better results than government intervention every single time."
Wisdom
"The welfare state is a way of replacing the giving of the heart with the giving of the coerced wallet."
Politics
"Communism didn't fail because it was not communist enough, it failed because of how it was communist."
History
"Capitalism allows people to live their lives without harm, as long as they do not harm others."
Freedom
"The strongest argument for free speech is that it may be the only way we can discover truth."
Truth
"Government bureaucrats are neither smarter nor more virtuous than the rest of us."
Philosophy
"What we observe in the world around us is only visible because of the invisible hand of the market."
Wisdom
"The tendency to substitute political power for market power is very strong."
Politics
"You can't have a truly free society and a truly safe society."
Freedom
"The curse of all human institutions is that they tend toward centralization of power."
Power
"If you truly care about poverty, support free markets not government programs."
Justice
"Incentives matter more than intentions in determining human behavior."
Motivation
"The price system is the mechanism that performs the coordination function in a market economy."
Science
"Government programs almost always have unintended consequences that are worse than the original problem."
Wisdom
"The real threat to liberty comes from benevolent government, not malevolent government."
Freedom
"Inflation is taxation without representation and every bit as unjust."
Justice
"The fundamental principle of a truly free society is that every person is responsible for their own actions."
Freedom
"Selfishness and concern for others are not opposites in a free market system."
Philosophy
"Government is force and those who are entrusted with the use of force must be constrained by law."
Power
"The market process works miracles while government planners work tragedies."
Wisdom
"We should measure the success of government by how little it interferes in our lives."
Politics
"The only way to improve living standards is through increases in productivity."
Success
"Bureaucrats are not the servants of the people but the rulers of the people."
Power
"The great virtue of a free market is that it rewards those who serve others well."
Freedom