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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
Higher taxes never reduce the deficit. Governments spend whatever they take in and then whatever they can get away with.
MILTON FRIEDMAN

Government Money Save
You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.
MILTON FRIEDMAN

Argument Opponents Right Understand View 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
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
The government doesn’t have any money. The only power it has is to take from some and give to others.
MILTON FRIEDMAN

Genrosity Government Money Power
The great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government.
MILTON FRIEDMAN

Civilization Government Greatness Science
Anything that government can do, private enterprise can do for half the cost.
MILTON FRIEDMAN

Government Price
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
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
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
With respect to teachers’ salaries …. Poor teachers are grossly overpaid and good teachers grossly underpaid. Salary schedules tend to be uniform and determined far more by seniority.
MILTON FRIEDMAN

Determination Difference Oppression Poor Respect Teaching
You know there are very few Marxists left in the world they’re all in American universities.
MILTON FRIEDMAN

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

Law Liberty Politics Society
Society doesn’t have values. People have values.
MILTON FRIEDMAN

People Society Value
Is it really true that political self-interest is nobler somehow than economic self-interest?
MILTON FRIEDMAN

Noble Politics Profit True

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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