black
grey
blue
red
brown
white

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

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
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
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
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 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
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 great achievements of civilization have not come from government bureaus.
MILTON FRIEDMAN

Achievement Civilization Government Greatness
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
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
MILTON FRIEDMAN

Depression Employment Government Greatness Management
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
There’s no such thing as a free lunch.
MILTON FRIEDMAN

Food Freedom
There are severe limits to the good that the government can do for the economy, but there are almost no limits to the harm it can do.
MILTON FRIEDMAN

Government Harm Limitation
Anything that government can do, private enterprise can do for half the cost.
MILTON FRIEDMAN

Government Price
With 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.
MILTON FRIEDMAN

Determination Difference Oppression Poor Respect Teaching
See, if you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That’s literally true.
MILTON FRIEDMAN

Drug Government Protection See True War
You cannot simultaneously have free immigration and a welfare state.
MILTON FRIEDMAN

Care Freedom Yourself

A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.

Related Topics

Popular Authors

A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.

Related Topics

Popular Authors

More Milton Friedman Quotes