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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

Hell hath no fury like a bureaucrat scorned.
MILTON FRIEDMAN

Hell Right Sarcastic
Inflation is the one form of taxation that can be imposed without legislation.
MILTON FRIEDMAN

Business Government Law Politics
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
Political freedom means the absence of coercion of a man by his fellow men.
MILTON FRIEDMAN

Absence Freedom Men Politics
The power to do good is also the power to do harm.
MILTON FRIEDMAN

Choice Goodness Harm Power
One role of prohibition is in making the drug market more lucrative.
MILTON FRIEDMAN

Drug Market Oneself Role
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
Since the 1930s the technique of buying votes with the voters’ own money has been expanded to an extent undreamed of by earlier politicians.
MILTON FRIEDMAN

Dream Money Politics Technique Vote
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
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
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
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
Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
MILTON FRIEDMAN

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

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

Law Liberty Politics Society
If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand.
MILTON FRIEDMAN

Funny Government Politics Rule Yourself
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
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
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
The only corporate social responsibility a company has is to maximize its profits.
MILTON FRIEDMAN

Company Money Profit Responsibility
There’s no point in comparing an actual, operating system with an ideal system that doesn’t exist.
MILTON FRIEDMAN

Existence Government Ideal Rule
Governments never learn. Only people learn.
MILTON FRIEDMAN

Government Learning People Philosophy Rule
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
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
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

Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That’s not a statement, it’s a definition.

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Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That’s not a statement, it’s a definition.

Related Topics

Popular Authors

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