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The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

Milton Friedman

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
Hell hath no fury like a bureaucrat scorned.
MILTON FRIEDMAN

Hell Right Sarcastic
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
The excuse for the destruction of liberty is always the plea of necessary ‘ that there is no alternative.
MILTON FRIEDMAN

Choice Destruction Liberty Necessary
Inflation is the one form of taxation that can be imposed without legislation.
MILTON FRIEDMAN

Business Government Law Politics
The great virtue of a free market is that it enables people who hate each other, or who are from vastly different religious or ethnic backgrounds, to cooperate economically. Government intervention can’t do that.
MILTON FRIEDMAN

Freedom Government Greatness Hate Religious
You must distinguish sharply between being pro free enterprise and being pro business.
MILTON FRIEDMAN

Business Difference Freedom Yourself
You never can cure poverty. Poverty is in the eye of the beholder.
MILTON FRIEDMAN

Deep Eyes Perspective Yourself
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
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
The word ‘free’ is used three times in the Declaration of Independence and once in the First Amendment to the Constitution, along with ‘freedom.’ The word ‘fair’ is not used in either of our founding documents.
MILTON FRIEDMAN

Difference Freedom Independence Word
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
I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it’s possible.
MILTON FRIEDMAN

Myself Possible Reason Support
What makes it [economics] most fascinating is that its fundamental principles are so simple that they can be written on one page, that anyone can understand them, and yet very few do.
MILTON FRIEDMAN

Fundamental Principle Simplicity Understand Writing
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
Governments never learn. Only people learn.
MILTON FRIEDMAN

Government Learning People Philosophy Rule

The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

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The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

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