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Inflation is the one form of taxation that can be imposed without legislation.

Milton Friedman

Government is a way by which every individual believes he can live at the expense of everybody else.
MILTON FRIEDMAN

Believe Government Live Way
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
When you start paying people to be poor, you wind up with an awful lot of poor people.
MILTON FRIEDMAN

People Poor Start Wind Yourself
Concentrated power is not rendered harmless by the good intentions of those who create it.
MILTON FRIEDMAN

Creation Harm Intention Liberty Power
You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.
MILTON FRIEDMAN

Argument Opponents Right Understand View Yourself
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
The power to do good is also the power to do harm.
MILTON FRIEDMAN

Choice Goodness Harm Power
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
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
Since the 1930s the technique of buying votes with the voters’ own money has been expanded to an extent undreamed of by earlier politicians.
MILTON FRIEDMAN

Dream Money Politics Technique Vote
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

Business Design Game Oneself Responsibility Rule
Corruption is government intrusion into market efficiencies in the form of regulations.
MILTON FRIEDMAN

Business Government Rule
One of the great mistakes is to judge policies and programs by their intentions rather than their results.
MILTON FRIEDMAN

Greatness Judgement Mistake Oneself Politics Result
Society doesn’t have values. People have values.
MILTON FRIEDMAN

People Society Value
The great achievements of civilization have not come from government bureaus.
MILTON FRIEDMAN

Achievement Civilization Government Greatness
Nobody spends somebody else’s money as carefully as he spends his own.
MILTON FRIEDMAN

Care Himself Independent Money

Inflation is the one form of taxation that can be imposed without legislation.

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Inflation is the one form of taxation that can be imposed without legislation.

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Popular Authors

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