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Concentrated power is not rendered harmless by the good intentions of those who create it.

Milton Friedman

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
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
There’s nothing that does so much harm as good intentions.
MILTON FRIEDMAN

Goodness Harm Intention Liberty
The excuse for the destruction of liberty is always the plea of necessary ‘ that there is no alternative.
MILTON FRIEDMAN

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

Destruction Hands Politics Power
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
Underlying most arguments against the free market is a lack of belief in freedom itself.
MILTON FRIEDMAN

Argument Belief Freedom Liberty
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
You know there are very few Marxists left in the world they’re all in American universities.
MILTON FRIEDMAN

Education World Yourself
Nobody spends somebody else’s money as carefully as he spends his own.
MILTON FRIEDMAN

Care Himself Independent Money
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
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
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
There’s no such thing as a free lunch.
MILTON FRIEDMAN

Food Freedom
One role of prohibition is in making the drug market more lucrative.
MILTON FRIEDMAN

Drug Market Oneself Role
Anything that government can do, private enterprise can do for half the cost.
MILTON FRIEDMAN

Government Price

Concentrated power is not rendered harmless by the good intentions of those who create it.

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Concentrated power is not rendered harmless by the good intentions of those who create it.

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