Milton Friedman
Milton Friedman
Milton Friedmanwas an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward. Several students and young professors that were recruited...
NationalityAmerican
ProfessionHistorian
Date of Birth31 July 1912
CityBrooklyn, NY
CountryUnited States of America
A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
I think almost every economist would agree that government gets itself in trouble when it tries to interfere with voluntary behavior.
Making prohibition work is like making water run uphill; it's against nature.
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 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.
Political freedom means the absence of coercion of a man by his fellow men. The fundamental threat to freedom is power to coerce, be it in the hands of a monarch, a dictator, an oligarchy, or a momentary majority. The preservation of freedom requires the elimination of such concentration of power to the fullest possible extent and the dispersal and distribution of whatever power cannot be eliminated — a system of checks and balances.
A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.
The most important single central fact about a free market is that no exchange takes place unless both parties benefit.
Economic freedom is ... an indispensable means toward the achievement of political freedom.
Underlying most arguments against the free market is a lack of belief in freedom itself.
When a man spends his own money to buy something for himself,he is very careful about how much he spends and how he spends it.When a man spends his own money to buy something for someone else,he is still very careful about how much he spends, but somewhatless what he spends it on. When a man spends someone else's moneyto buy something for himself, he is very careful about what hebuys, but doesn't care at all how much he spends. And when a manspends someone else's money on someone else, he doesn't care howmuch he spends or what he spends it on. And that's governmentfor you.
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
I strongly urge the voters of Colorado to reject Referendum C, or any action that would suspend Colorado's Taxpayers Bill of Rights. I strongly favor the continued and uninterrupted use of TABOR, including it's so called ratchet mechanism. The ratchet is one of the best features of TABOR. It is the only thing that will reduce out-of-control government spending.
Have all these countries found a genius like Greenspan? ... What the foreign experience suggests is, you don't need a genius. You just need someone willing to make fighting inflation his top priority.