Milton Friedman Quotes

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

  Milton Friedman

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• No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation.

  Milton Friedman

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• The price that the market sets on the services of our resources is similarly affected by a bewildering mixture of chance and choice. Frank Sinatra’s voice was highly valued in twentieth-century United States. Would it have been highly valued in twentieth-century India, if he had happened to be born and to live there?

  Milton Friedman

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• Economics as a positive science is a body of tentatively accepted generalizations about economic phenomena that can be used to predict the consequences of changes in circumstances.

  Milton Friedman

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• Well first of all, tell me, is there some society you know of that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed?

  Milton Friedman

• Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.

  Milton Friedman

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

  Milton Friedman

• There’s no such thing as a free lunch.

  Milton Friedman

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• The world runs on individuals pursuing their self interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a, from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way.

  Milton Friedman

• The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system.

  Milton Friedman

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

  Milton Friedman

• The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that’s why it’s so essential to preserving individual freedom.

  Milton Friedman

• The only relevant test of the validity of a hypothesis is comparison of prediction with experience.

  Milton Friedman

• The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes.

  Milton Friedman

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

  Milton Friedman

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

  Milton Friedman

• 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

• The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.

  Milton Friedman

• One man’s opportunism is another man’s statesmanship.

  Milton Friedman

• Nothing is so permanent as a temporary government program.

  Milton Friedman

Milton Friedman (41)

Birth:	31st July, 1912
Death:	16th November, 2006
Nationality:	American
Profession:	Author, Economist, Statistician

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