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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

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
A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
MILTON FRIEDMAN

Employment Law Limitation Money Person Reality Skill
The government doesn’t have any money. The only power it has is to take from some and give to others.
MILTON FRIEDMAN

Genrosity Government Money Power
I’m in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.
MILTON FRIEDMAN

Drugs Illegal Kill Myself People Right Support
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

Hurt Law People Reality Support Tragedy
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
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 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
Political freedom means the absence of coercion of a man by his fellow men.
MILTON FRIEDMAN

Absence Freedom Men Politics
In the 1960s, The National Education Association changed its character. The NEA changed into a union. And from that point on you can see deterioration in the quality of schooling in the United States.
MILTON FRIEDMAN

Change Character Education Quality Unity
Corruption is government intrusion into market efficiencies in the form of regulations.
MILTON FRIEDMAN

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

Goodness Harm Intention Liberty
The great achievements of civilization have not come from government bureaus.
MILTON FRIEDMAN

Achievement Civilization Government Greatness
With some notable exceptions, businessmen favor free enterprise in general but are opposed to it when it comes to themselves.
MILTON FRIEDMAN

Business Enemy Freedom Man Rival
Concentrated power is not rendered harmless by the good intentions of those who create it.
MILTON FRIEDMAN

Creation Harm Intention Liberty Power
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

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.

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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.

Related Topics

Popular Authors

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