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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

There are severe limits to the good that the government can do for the economy, but there are almost no limits to the harm it can do.
MILTON FRIEDMAN

Government Harm Limitation
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 Philosophy Problem Protection
The power to do good is also the power to do harm.
MILTON FRIEDMAN

Choice Goodness Harm Power
Governments never learn. Only people learn.
MILTON FRIEDMAN

Government Learning People Philosophy Rule
I’m in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.
MILTON FRIEDMAN

Drugs Illegal Kill Myself People Right Support
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
Is it really true that political self-interest is nobler somehow than economic self-interest?
MILTON FRIEDMAN

Noble Politics Profit True
The excuse for the destruction of liberty is always the plea of necessary ‘ that there is no alternative.
MILTON FRIEDMAN

Choice Destruction Liberty Necessary
Only a crisis, actual or perceived, produces real change.
MILTON FRIEDMAN

Change Politics Reality
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
There is one and only one responsibility of business: to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.
MILTON FRIEDMAN

Business Design Game Oneself Responsibility Rule
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
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

Government Oneself Profit
The problem in this world is to avoid concentration of power – we must have a dispersion of power.
MILTON FRIEDMAN

Avoid Power Problem Rule World
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

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

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

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