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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.

Milton Friedman

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

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

Care Himself Independent Money
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
Political freedom means the absence of coercion of a man by his fellow men.
MILTON FRIEDMAN

Absence Freedom Men Politics
The essential notion of a capitalist society … is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force.
MILTON FRIEDMAN

Force Liberty People Rule Society
Anything that government can do, private enterprise can do for half the cost.
MILTON FRIEDMAN

Government Price
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
Hell hath no fury like a bureaucrat scorned.
MILTON FRIEDMAN

Hell Right Sarcastic
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
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
Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.
MILTON FRIEDMAN

Government People Philosophy Problem Protection
You must distinguish sharply between being pro free enterprise and being pro business.
MILTON FRIEDMAN

Business Difference Freedom Yourself
Only a crisis, actual or perceived, produces real change.
MILTON FRIEDMAN

Change Politics Reality
There’s no point in comparing an actual, operating system with an ideal system that doesn’t exist.
MILTON FRIEDMAN

Existence Government Ideal Rule

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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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.

Related Topics

Popular Authors

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