Thursday, June 25, 2009

Milton Friedman

Columbus did not seek a new route to the Indies in response to a majority directive.

Concentrated power is not rendered harmless by the good intentions of those who create it.

Governments never learn. Only people learn.

History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.

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

Most of the harm that comes from drugs is because they are illegal.

If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.

Inflation is taxation without legislation.

Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.

Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.

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

Nothing is so permanent as a temporary government program.

One man's opportunism is another man's statesmanship.

Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.

The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.

The government solution to a problem is usually as bad as the problem.

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.

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

The most important single central fact about a free market is that no exchange takes place unless both parties benefit..

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.

The power to do good is also the power to do harm.

The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system.

There's no such thing as a free lunch.

Underlying most arguments against the free market is a lack of belief in freedom itself.

Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.

We have a system that increasingly taxes work and subsidizes nonwork.

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