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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

Nothing is so permanent as a temporary government program.
MILTON FRIEDMAN

Government Liberty Permenent
Inflation is the one form of taxation that can be imposed without legislation.
MILTON FRIEDMAN

Business Government Law Politics
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
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
Concentrated power is not rendered harmless by the good intentions of those who create it.
MILTON FRIEDMAN

Creation Harm Intention Liberty Power
If you cannot state a proposition clearly and unambiguously, you do not understand it.
MILTON FRIEDMAN

Law Rule Talk Understand Yourself
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
You never can cure poverty. Poverty is in the eye of the beholder.
MILTON FRIEDMAN

Deep Eyes Perspective Yourself
Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
MILTON FRIEDMAN

Devotion Energy Government Management Politics
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
There’s no such thing as a free lunch.
MILTON FRIEDMAN

Food Freedom
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
If you pay people not to work and tax them when they do, don’t be surprised if you get unemployment.
MILTON FRIEDMAN

Employment Pay People Yourself
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
There’s no doubt in my mind that Ronald Reagan was by far the greatest. Because he had real principles and he stuck by them. He made clear what he was going to do, and he did it. He didn’t back down.
MILTON FRIEDMAN

Doubt Greatness Himself Mindset Myself Principle Reality
You cannot simultaneously have free immigration and a welfare state.
MILTON FRIEDMAN

Care Freedom 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.

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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.

Related Topics

Popular Authors

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