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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

A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
MILTON FRIEDMAN

Employment Law Limitation Money Person Reality Skill
See, if you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That’s literally true.
MILTON FRIEDMAN

Drug Government Protection See True War
There’s nothing that does so much harm as good intentions.
MILTON FRIEDMAN

Goodness Harm Intention Liberty
Underlying most arguments against the free market is a lack of belief in freedom itself.
MILTON FRIEDMAN

Argument Belief Freedom Liberty
If you cannot state a proposition clearly and unambiguously, you do not understand it.
MILTON FRIEDMAN

Law Rule Talk Understand Yourself
The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken.
MILTON FRIEDMAN

Hurt Law People Reality Support Tragedy
Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
MILTON FRIEDMAN

Devotion Energy Government Management Politics
I would say that in this world, the greatest source of inequality has been special privileges granted by government.
MILTON FRIEDMAN

Equality Government Greatness Myself Privilege World
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

Equality Freedom Rule Society
Society doesn’t have values. People have values.
MILTON FRIEDMAN

People Society Value
A free man will ask neither what his country can do for him nor what he can do for his country.
MILTON FRIEDMAN

Country Freedom Himself Patriot
Because we live in a largely free society, we tend to forget how limited is the span of time and the part of the globe for which there has ever been anything like political freedom: the typical state of mankind is tyranny, servitude, and misery.
MILTON FRIEDMAN

Forget Freedom Limitation Live Man Misery Politics Time
When you start paying people to be poor, you wind up with an awful lot of poor people.
MILTON FRIEDMAN

People Poor Start Wind Yourself
I am a libertarian with a small “l” and a Republican with a capital “R”. And I am a Republican with a capital “R” on grounds of expediency, not on principle.
MILTON FRIEDMAN

Freedom Government Liberty Myself Principle
Only a crisis, actual or perceived, produces real change.
MILTON FRIEDMAN

Change Politics Reality
With some notable exceptions, businessmen favor free enterprise in general but are opposed to it when it comes to themselves.
MILTON FRIEDMAN

Business Enemy Freedom Man Rival

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.

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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.

Related Topics

Popular Authors

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