A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
MILTON FRIEDMANWith respect to teachers’ salaries …. Poor teachers are grossly overpaid and good teachers grossly underpaid. Salary schedules tend to be uniform and determined far more by seniority.
More Milton Friedman Quotes
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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.
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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.
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Governments never learn. Only people learn.
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Higher taxes never reduce the deficit. Governments spend whatever they take in and then whatever they can get away with.
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The combination of economic and political power in the same hands is a sure recipe for tyranny.
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Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.
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Nobody spends somebody else’s money as carefully as he spends his own.
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There’s no point in comparing an actual, operating system with an ideal system that doesn’t exist.
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Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
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The most important single central fact about a free market is that no exchange takes place unless both parties benefit.
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When you start paying people to be poor, you wind up with an awful lot of poor people.
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The only corporate social responsibility a company has is to maximize its profits.
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Government is a way by which every individual believes he can live at the expense of everybody else.
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There’s no such thing as a free lunch.
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Underlying most arguments against the free market is a lack of belief in freedom itself.
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Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That’s not a statement, it’s a definition.
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Every person shall be free to do good at his own expense.
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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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Freedom is a rare and delicate plant. Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power.
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Inflation is the one form of taxation that can be imposed without legislation.
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Nothing is so permanent as a temporary government program.
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With some notable exceptions, businessmen favor free enterprise in general but are opposed to it when it comes to themselves.
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Society doesn’t have values. People have values.
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Concentrated power is not rendered harmless by the good intentions of those who create it.
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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.
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Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.
MILTON FRIEDMAN