We do not influence the course of events by persuading people that we are right when we make what they regard as radical proposals. Rather, we exert influence by keeping options available when something has to be done at a time of crisis. Milton Friedman More Quotes by Milton Friedman More Quotes From Milton Friedman ...Only physicians are likely to be regarded as competent to judge the qualifications of potential physicians, so licensing boards in the various states...are typically composed..of physicians,...members of the AMA. The boards, or the state legislatures...give the AMA the power to influence the number of persons admitted to practice (by) lengthy training,...(and) the list of 'approved' schools and hospitals (which) is generally identical with the list issued by the Council on Medical Education and Hospitals of the AMA. Milton Friedman practice dark school I do not believe there is a natural resource economics. I believe there is good economics and bad economics. Milton Friedman economics natural believe There is only one social responsibility of business Milton Friedman social-responsibility social responsibility I am a limited-government libertarian. Milton Friedman limited-government libertarian government The preservation of liberty, not the promotion of efficiency, is the primary justification for private property. Efficiency is a happy, though not accidental, by-product - and a most important by-product because liberty could not have survived if it had not also produced affluence. Milton Friedman affluence liberty important People who intend only to seek their own benefit are “led by an invisible hand to serve a public interest which was no part of” their intention. I say that there is a reverse invisible hand: People who intend to serve only the public interest are led by an invisible hand to serve private interests which was no part of their intention. Milton Friedman invisible-hand hands people You will find that hardly a soul who will say that it was a bad thing. Almost everybody will say it was a good thing. 'But what about today? Do you think we should have free immigration?' 'Oh, no,' they'll say, 'We couldn't possibly have free immigration today. Why, that would flood us with immigrants from India, and God knows where. We'd be driven down to a bare subsistence level.' Milton Friedman soul should-have thinking But on the other hand, if you come under circumstances where each person is entitled to a pro-rata share of the pot, to take an extreme example, or even to a low level of the pie, than the effect of that situation is that free immigration, would mean a reduction of everybody to the same, uniform level. Of course, I'm exaggerating, it wouldn't go quite that far, but it would go in that direction. And it is that perception, that leads people to adopt what at first seems like inconsistent values. Milton Friedman pie mean hands The current oil crisis has not been produced by the oil companies. It is a result of governmental mismanagement exacerbated by the Mideast war. Milton Friedman oil government war It is a mark of how far we have gone on the road to serfdom that government allocation and rationing of oil is the automatic response to the oil crisis. Milton Friedman oil government gone It is taken for granted that workers should receive their pay partly in kind, in the form of medical care provided by the employer. How come? Why single out medical care? Surely food is no less essential to life than medical care. Why is it not at least as logical for workers to be required to buy their food at the company store as to be required to buy their medical care at the company store? Milton Friedman care taken pay [T]he burden of government is not measured by how much it taxes, but by how much it spends. Milton Friedman investing burden government What's the difference? How can people be so inconsistent? Why is it that free immigration was a good thing before 1914 and free immigration is a bad thing today? Well, there is a sense in which that answer is right. There's a sense in which free immigration, in the same sense as we had it before 1914 is not possible today. Why not? Milton Friedman why-not differences people The evidence of history speaks with a single voice. I do not know any exception to the proposition that if you compare like with like, the freer the system, the better off the ordinary poor people have been. Milton Friedman voice ordinary people I want people to take thought about their condition and to recognize that the maintenance of a free society is a very difficult and complicated thing and it requires a self-denying Milton Friedman maintenance self people Government is a way by which every individual believes he can live at the expense of everybody else. Milton Friedman government believe way If you have free immigration, in the way we had it before 1914, everybody benefited. The people who were here benefited. The people who came benefited. Because nobody would come unless he, or his family, thought he would do better here than he would elsewhere. And, the new immigrants provided additional resources, provided additional possibilities for the people already here. So everybody can mutually benefit. Milton Friedman benefits people way I know of no severe depression, in any country or any time, that was not accompanied by a sharp decline in the stock of money, and equally of no sharp decline in the stock of money that was not accompanied by a severe depression. Milton Friedman decline knows country I think that the Internet is going to be one of the major forces for reducing the role of government. Milton Friedman roles government thinking Every businessman is in favor of freedom for everybody else, but when it comes to himself that's a different question. He's always the special case. He ought to get special privileges from the government, a tariff, this, that and the other thing. Milton Friedman favors government special
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