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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

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

Goodness Harm Intention Liberty
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
Society doesn’t have values. People have values.
MILTON FRIEDMAN

People Society Value
There’s no such thing as a free lunch.
MILTON FRIEDMAN

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

Destruction Hands Politics Power
Is it really true that political self-interest is nobler somehow than economic self-interest?
MILTON FRIEDMAN

Noble Politics Profit True
There’s no point in comparing an actual, operating system with an ideal system that doesn’t exist.
MILTON FRIEDMAN

Existence Government Ideal Rule
Only a crisis, actual or perceived, produces real change.
MILTON FRIEDMAN

Change Politics Reality
Governments never learn. Only people learn.
MILTON FRIEDMAN

Government Learning People Philosophy Rule
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
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
The power to do good is also the power to do harm.
MILTON FRIEDMAN

Choice Goodness Harm Power

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.

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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.

Related Topics

Popular Authors

More Milton Friedman Quotes