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The essential notion of a capitalist society … is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force.

Milton Friedman

The combination of economic and political power in the same hands is a sure recipe for tyranny.
MILTON FRIEDMAN

Destruction Hands Politics Power
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
Only a crisis, actual or perceived, produces real change.
MILTON FRIEDMAN

Change Politics Reality
Political freedom means the absence of coercion of a man by his fellow men.
MILTON FRIEDMAN

Absence Freedom Men Politics
You must distinguish sharply between being pro free enterprise and being pro business.
MILTON FRIEDMAN

Business Difference Freedom 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
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 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
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 most important single central fact about a free market is that no exchange takes place unless both parties benefit.
MILTON FRIEDMAN

Business Freedom Important Place Profit
The power to do good is also the power to do harm.
MILTON FRIEDMAN

Choice Goodness Harm Power
Nothing is so permanent as a temporary government program.
MILTON FRIEDMAN

Government Liberty Permenent
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
Corruption is government intrusion into market efficiencies in the form of regulations.
MILTON FRIEDMAN

Business Government Rule
You never can cure poverty. Poverty is in the eye of the beholder.
MILTON FRIEDMAN

Deep Eyes Perspective Yourself
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 essential notion of a capitalist society … is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force.

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The essential notion of a capitalist society … is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force.

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Popular Authors

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