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You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.

Milton Friedman

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
You cannot simultaneously have free immigration and a welfare state.
MILTON FRIEDMAN

Care Freedom Yourself
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 no point in comparing an actual, operating system with an ideal system that doesn’t exist.
MILTON FRIEDMAN

Existence Government Ideal Rule
When everybody owns something, nobody owns it, and nobody has a direct interest in maintaining or improving its condition. That is why buildings in the Soviet Union – like public housing in the United States – look decrepit within a year or two of their construction.
MILTON FRIEDMAN

Direction Government Improvement Philosophy
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.
MILTON FRIEDMAN

Government Oneself Profit
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
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
We have a system that increasingly taxes work and subsidizes nonwork.
MILTON FRIEDMAN

Law Liberty Politics Society
The growing role that the government has played in financing and administering schooling has led not only the enormous waste of taxpayers money but also to a far poorer educational system.
MILTON FRIEDMAN

Education Government Money Play Poor Role Waste
Underlying most arguments against the free market is a lack of belief in freedom itself.
MILTON FRIEDMAN

Argument Belief Freedom Liberty
Every person shall be free to do good at his own expense.
MILTON FRIEDMAN

Freedom Person Price
Governments never learn. Only people learn.
MILTON FRIEDMAN

Government Learning People Philosophy Rule
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
Anything that government can do, private enterprise can do for half the cost.
MILTON FRIEDMAN

Government Price
Corruption is government intrusion into market efficiencies in the form of regulations.
MILTON FRIEDMAN

Business Government Rule

You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.

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You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.

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Popular Authors

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