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Milton Friedman -
Capitalism and Freedom (1962)
33 Sourced Quotes
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I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements.
Milton Friedman
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Freedom in economic arrangements is itself a component of freedom broadly understood, so economic freedom is an end in itself.... Economic freedom is also an indispensable means toward the achievement of political freedom.
Milton Friedman
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Humility is the distinguishing virtue of the believer in freedom; arrogance, of the paternalist.
Milton Friedman
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A liberal is fundamentally fearful of concentrated power. His objective is to preserve the maximum degree of freedom for each individual separately that is compatible with one man's freedom not interfering with other men's freedom. He believes that this objective requires that power be dispersed. He is suspicious of assigning to government any functions that can be performed through the market, both because this substitutes coercion for voluntary co-operation in the area in question and because, by giving government an increased role, it threatens freedom in other areas.
Milton Friedman
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A government which maintained law and order, defined property rights, served as a means whereby we could modify property rights and other rules of the economic game, adjudicated disputes about the interpretation of the rules, enforced contracts, promoted competition, provided a monetary framework, engaged in activities to counter technical monopolies and to overcome neighborhood effects widely regarded as sufficiently important to justify government intervention, and which supplemented private charity and the private family in protecting the irresponsible, whether madman or child—such a government would clearly have important functions to perform. The consistent liberal is not an anarchist.
Milton Friedman
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The liberal conceives of men as imperfect beings. He regards the problem of social organization to be as much a negative problem of preventing "bad" people from doing harm as of enabling "good" people to do good; and, of course, "bad" and "good"people may be the same people, depending on who is judging them.
Milton Friedman
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There is still a tendency to regard any existing government intervention as desirable, to attribute all evils to the market, and to evaluate new proposals for government control in their ideal form, as they might work if run by able, disinterested men free from the pressure of special interest groups.
Milton Friedman
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Fundamentally, there are only two ways of coordinating the economic activities of millions. One is central direction involving the use of coercion—the technique of the army and of the modern totalitarian state. The other is voluntary co-operation of individuals—the technique of the market place.
Milton Friedman
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Quote of the day
No longer shall I paint interiors with men reading and women knitting. I will paint living people who breathe and feel and suffer and love.
Edvard Munch
Milton Friedman
Creative Commons
Born:
July 31, 1912
Died:
November 16, 2006
(aged 94)
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