Milton Friedman Quotes

Inflation is always and everywhere a monetary phenomenon.

There is no such thing as a free lunch.

The only valid test of a theory is prediction.

The government solution to a problem is usually as bad as the problem.

The problem of social organization is how to set up an arrangement under which greed will do the least harm.

Underlying most arguments against the free market is a lack of belief in freedom itself.

The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.

The world runs on individuals pursuing their separate interests.

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

The reality is that government spending provides a short-term boost to the economy but carries long-term costs.

The economic miracle is a miracle precisely because it was achieved not by doing more of what we know how to do but by escaping from what we don’t know how to do.

The government has no money of its own. Its only resources are the resources it takes from private citizens.

The government solution to a problem is usually to fix further problems.

The government should take away the power to do harm, but it shouldn’t have the power to do good.

The system of private property and free markets is the most conducive to the happiness and well-being of the ordinary person.

The power of the price system is that it communicates information and gives people an incentive to respond to that information.

The best way to help the poor is to ensure that as many people as possible have opportunities to help themselves.

The power of the market is that it rewards people for being willing to serve others.

The power to tax is the power to destroy.

The value of a dollar is ultimately determined by the goods and services it can buy.

The lessons of history are harsher than the misinterpretations of the ignorant.

The welfare state has done more to destroy the black family than any other social policy.

The government’s job is to create an environment in which individuals can fulfill their own dreams and potential.

The role of government is to protect the freedom of the individual, not to interfere in the choices they make.

The best solution to poverty is economic growth, which requires free markets and limited government.

The free market allows individuals to make choices that are in their own best interest, rather than relying on government to make those choices for them.

In a free market, competition is the best regulator of economic activity.

Inflation is a silent tax that affects everyone, especially the poor and those living on fixed incomes.

Capitalism is a system that rewards hard work, innovation, and risk-taking.

In a free market, the profit motive is a powerful force for good, as it encourages individuals to find ways to meet the needs and wants of others.

A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.

A society that aims for equality before liberty will end up with neither. A society that aims for liberty before equality will end up with a great deal of both.

The single most important factor in economic development is property rights.

The government should not be in the business of picking winners and losers in the marketplace.

The key to prosperity is not more government spending, but more freedom and opportunity for individuals.

The government should not be making decisions about what goods and services are produced, how they are produced, or who gets them.

The government’s role in the economy should be limited to protecting property rights, enforcing contracts, and providing a stable and predictable legal framework.

The government cannot create jobs or wealth. It can only take resources from one group of people and give them to another.

The best way to reduce poverty and increase prosperity is to unleash the creative power of individuals through free markets and limited government.

The problem with socialism is that eventually you run out of other people’s money.

In a free society, individuals are free to make their own choices, take risks, and reap the rewards of their own efforts.

The free market is the most efficient and effective system for allocating resources and creating wealth.

The government should not be in the business of trying to control or micromanage the economy. It should set clear rules and then get out of the way.

The government’s job is not to guarantee outcomes or equalize incomes, but to ensure a level playing field and equal opportunity.

The government should focus on creating an environment that encourages innovation, entrepreneurship, and investment.

The welfare state creates a cycle of dependency, leading to less individual responsibility and less economic growth.

The free market allows individuals to maximize their own self-interest while also benefiting society as a whole.

The government should not be in the business of trying to pick winners and losers in the economy. It should create a level playing field and let individuals and businesses compete on their own merits.

The government should not be in the business of trying to centrally plan the economy. It should allow individuals and businesses to make their own decisions based on market signals and price signals.

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