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The power to do good is also the power to do harm.

Milton Friedman

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
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
Because we live in a largely free society, we tend to forget how limited is the span of time and the part of the globe for which there has ever been anything like political freedom: the typical state of mankind is tyranny, servitude, and misery.
MILTON FRIEDMAN

Forget Freedom Limitation Live Man Misery Politics Time
There’s no point in comparing an actual, operating system with an ideal system that doesn’t exist.
MILTON FRIEDMAN

Existence Government Ideal 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
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
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.
MILTON FRIEDMAN

Freedom Government Liberty Myself Principle
Nothing is so permanent as a temporary government program.
MILTON FRIEDMAN

Government Liberty Permenent
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
Is it really true that political self-interest is nobler somehow than economic self-interest?
MILTON FRIEDMAN

Noble Politics Profit True
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
One role of prohibition is in making the drug market more lucrative.
MILTON FRIEDMAN

Drug Market Oneself Role
Only a crisis, actual or perceived, produces real change.
MILTON FRIEDMAN

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

Business Government Rule
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.
MILTON FRIEDMAN

Freedom Government Liberty Myself Principle
The combination of economic and political power in the same hands is a sure recipe for tyranny.
MILTON FRIEDMAN

Destruction Hands Politics Power

The power to do good is also the power to do harm.

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The power to do good is also the power to do harm.

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