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Society doesn’t have values. People have values.

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
Nobody spends somebody else’s money as carefully as he spends his own.
MILTON FRIEDMAN

Care Himself Independent Money
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
I would say that in this world, the greatest source of inequality has been special privileges granted by government.
MILTON FRIEDMAN

Equality Government Greatness Myself Privilege World
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
Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces the area over which political power is exercised.
MILTON FRIEDMAN

Exercise Freedom Liberty People Politics Power
Political freedom means the absence of coercion of a man by his fellow men.
MILTON FRIEDMAN

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

Believe Government Live Way
The unions might be good for the people who are in the unions but it doesn’t do a thing for the people who are unemployed. Because the union keeps down the number of jobs, it doesn’t do a thing for them.
MILTON FRIEDMAN

Employment Goodness Job People
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
Society doesn’t have values. People have values.
MILTON FRIEDMAN

People Society Value
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
The government solution to a problem is usually as bad as the problem.
MILTON FRIEDMAN

Bad Government Liberty Problem
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

Fundamental Principle Simplicity Understand Writing
The only corporate social responsibility a company has is to maximize its profits.
MILTON FRIEDMAN

Company Money Profit Responsibility
A free man will ask neither what his country can do for him nor what he can do for his country.
MILTON FRIEDMAN

Country Freedom Himself Patriot

Society doesn’t have values. People have values.

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Society doesn’t have values. People have values.

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