May 30, 2022

GREAT QUOTES OF MILTON FRIEDMAN | GREAT QUOTES OF FAMOUS ECONOMISTS

 

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GREAT QUOTES OF MILTON FRIEDMAN


“A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.” - Milton Friedman

“One of the great mistakes is to judge policies and programs by their intentions rather than their results.” - Milton Friedman

“Well first of all, tell me: Is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy. The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty you’re talking about, the only cases in recorded history, are where they have had capitalism and largely free trade. If you want to know where the masses are worse off, worst off, it’s exactly in the kinds of societies that depart from that. 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 the free-enterprise system.” - Milton Friedman

“The great virtue of a free market system is that it does not care what color people are; it does not care what their religion is; it only cares whether they can produce something you want to buy. It is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.” - Milton Friedman

“Nothing is so permanent as a temporary government program.” - Milton Friedman

“Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect citizens from crimes against themselves or their property. When government-- in pursuit of good intentions tries to rearrange the economy, legislate morality, or help special interests, the cost come in inefficiency, lack of motivation, and loss of freedom. Government should be a referee, not an active player.” - Milton Friedman

“Now here's somebody who wants to smoke a marijuana cigarette. If he's caught, he goes to jail. Now is that moral? Is that proper? I think it's absolutely disgraceful that our government, supposed to be our government, should be in the position of converting people who are not harming others into criminals, of destroying their lives, putting them in jail. That's the issue to me. The economic issue comes in only for explaining why it has those effects. But the economic reasons are not the reasons” - Milton Friedman

“Underlying most arguments against the free market is a lack of belief in freedom itself.” - Milton Friedman

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

“Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.” - Milton Friedman