Milton Friedman Quotes & Sayings

“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.”

“If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.”

“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.”

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

“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.”

“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?”

“There's no such thing as a free lunch.”

“So that the record of history is absolutely crystal clear. That there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.”

“Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.”

“Inflation is taxation without legislation.”