Milton Friedman

Economist Theorist American 1912 – 2006

Developed monetarism and argued inflation is always a monetary phenomenon.

380 quotes

"If you want to help the poor, you should focus on policies that allow them to help themselves."
"The greatest threat to freedom is the concentration of power."
Freedom
"You can't consistently have capitalism and a welfare state because they are based on different premises."
Philosophy
"Whenever the government expands its power, it's always claimed to be for a good purpose."
Politics
"The drive to reduce inequality by government force requires increasingly authoritarian methods."
Justice
"Open immigration would be the most effective anti-poverty program we could have."
Politics
"The business of education is to teach people how to think, not what to think."
Education
"We have confused the goal of equality with the methods of force."
Justice
"Capitalism does not guarantee equality of outcomes, but it does guarantee equal opportunity to participate."
Freedom
"The most important use of money is to not spend it on the government."
Humor
"When you have a large bureaucracy, its primary function becomes perpetuating itself."
Politics
"The best way to help the poor is through economic growth, not redistribution."
Success
"Freedom has a cost, and that cost is personal responsibility."
Freedom
"Regulation of industry is the best way to ensure that the largest firms maintain their dominance."
Politics
"The laws of economics are not laws of nature but laws of human behavior."
Knowledge
"You cannot have a dynamic economy with detailed government planning."
Politics
"Altruism is wonderful, but it should not be imposed by force."
Philosophy
"The problem is not that government does bad things; it's that government does things period."
Politics
"Education monopolies are no more efficient than any other monopolies."
Education
"The difference between economic freedom and political freedom is often ignored to our peril."
Freedom
"Markets require a framework of law and order, but then they work best with minimal interference."
Knowledge
"The costs of government programs are always higher than anticipated because bureaucracies expand to fill the space available."
Politics
"You can't separate economic freedom from other forms of freedom; they're deeply interconnected."
Freedom
"The most honest tax is one that's transparent and that people can clearly see they're paying."
Truth
"Nations that embraced economic freedom have seen dramatic improvements in living standards."
History
"The problem with good intentions is that they pave the road to very bad outcomes."
Wisdom
"If you want to understand why government programs fail, follow the incentives."
Knowledge
"Voluntary exchange benefits both parties; that's why it's so powerful."
Philosophy
"The greatest achievements require freedom, not planning."
Freedom
"Government programs designed to help the poor often end up harming them by reducing incentives to work."
Politics