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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

You must distinguish sharply between being pro free enterprise and being pro business.
MILTON FRIEDMAN

Business Difference Freedom Yourself
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
One role of prohibition is in making the drug market more lucrative.
MILTON FRIEDMAN

Drug Market Oneself Role
If you cannot state a proposition clearly and unambiguously, you do not understand it.
MILTON FRIEDMAN

Law Rule Talk Understand Yourself
The only corporate social responsibility a company has is to maximize its profits.
MILTON FRIEDMAN

Company Money Profit Responsibility
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
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
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
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
The word ‘free’ is used three times in the Declaration of Independence and once in the First Amendment to the Constitution, along with ‘freedom.’ The word ‘fair’ is not used in either of our founding documents.
MILTON FRIEDMAN

Difference Freedom Independence Word
If you pay people not to work and tax them when they do, don’t be surprised if you get unemployment.
MILTON FRIEDMAN

Employment Pay People Yourself
The combination of economic and political power in the same hands is a sure recipe for tyranny.
MILTON FRIEDMAN

Destruction Hands Politics Power
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
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

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.

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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.

Related Topics

Popular Authors

More Milton Friedman Quotes