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

Milton Friedman

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

Law Liberty Politics Society
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.
MILTON FRIEDMAN

Depression Employment Government Greatness Management
The combination of economic and political power in the same hands is a sure recipe for tyranny.
MILTON FRIEDMAN

Destruction Hands Politics Power
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
When everybody owns something, nobody owns it, and nobody has a direct interest in maintaining or improving its condition. That is why buildings in the Soviet Union – like public housing in the United States – look decrepit within a year or two of their construction.
MILTON FRIEDMAN

Direction Government Improvement Philosophy
The most important single central fact about a free market is that no exchange takes place unless both parties benefit.
MILTON FRIEDMAN

Business Freedom Important Place Profit
Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That’s not a statement, it’s a definition.
MILTON FRIEDMAN

Employment Government Limitation Money
One of the great mistakes is to judge policies and programs by their intentions rather than their results.
MILTON FRIEDMAN

Greatness Judgement Mistake Oneself Politics Result
Concentrated power is not rendered harmless by the good intentions of those who create it.
MILTON FRIEDMAN

Creation Harm Intention Liberty Power
Nothing is so permanent as a temporary government program.
MILTON FRIEDMAN

Government Liberty Permenent
Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces the area over which political power is exercised.
MILTON FRIEDMAN

Exercise Freedom Liberty People Politics Power
Corruption is government intrusion into market efficiencies in the form of regulations.
MILTON FRIEDMAN

Business Government Rule
The unions might be good for the people who are in the unions but it doesn’t do a thing for the people who are unemployed. Because the union keeps down the number of jobs, it doesn’t do a thing for them.
MILTON FRIEDMAN

Employment Goodness Job People
The great achievements of civilization have not come from government bureaus.
MILTON FRIEDMAN

Achievement Civilization Government Greatness
The essential notion of a capitalist society … is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force.
MILTON FRIEDMAN

Force Liberty People Rule Society
Inflation is the one form of taxation that can be imposed without legislation.
MILTON FRIEDMAN

Business Government Law Politics

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

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

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