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Milton Friedman Quotes

American - Economist | July 31, 1912 - November 16, 2006

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.

Milton Friedman

Party Pie Assume Gain Economic Only

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

Milton Friedman

Government Problem Solution Bad

The world runs on individuals pursuing their self interests. The great achievements of civilization have not come from government bureaus. Einstein didn't construct his theory under order from a, from a bureaucrat. Henry Ford didn't revolutionize the automobile industry that way.

Milton Friedman

Great Government World Self Way

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

Milton Friedman

Good Power Create Good Intentions

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

Milton Friedman

Knowledge Ideas Understanding Values

I think that the Internet is going to be one of the major forces for reducing the role of government. The one thing that's missing, but that will soon be developed, is a reliable e-cash - a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A.

Milton Friedman

Government Think Internet You Will

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

Milton Friedman

Freedom History Capitalism Political

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

Milton Friedman

Good Power Harm Also

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

Milton Friedman

Government People Problem Want More

Inflation is the one form of taxation that can be imposed without legislation.

Milton Friedman

Without Legislation Inflation Form

So that the record of history is absolutely crystal clear. That there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.

Milton Friedman

History Candle People Free Way Hold

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

Milton Friedman

Freedom Free Belief Against Market

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