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 You had a flood of immigrants, millions of them, coming to this country. What brought them here? It was the hope for a better life for them and their children. And, in the main, they succeeded. It is hard to find any century in history, in which so large a number of people experience so great an improvement in the conditions of their life, in the opportunities open to them, as in the period of the 19th and early 20th century. Milton Friedman opportunity country children Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. Milton Friedman output investing rapids If, for example, existing government intervention is minor, we shall attach a smaller weight to the negative effect of additional government intervention. This is an important reason why many earlier liberals, like Henry Simons, writing at a time when government was small by today's standards, were willing to have government undertake activities that today's liberals would not accept now that government has become so overgrown. Milton Friedman government important writing The argument for collectivism is simple; free market is not. Milton Friedman free-market argument simple We have a freer world because of the collapse of the Soviet Union and the changes in China. Those two have been the main contributors to freedom in our time. Milton Friedman unions two world Reality ensures that the end of history will never come. Milton Friedman ends reality The countries that have risen and separated out as a result of the collapse of the Soviet Union are, on the whole, following freer economic policies. Most of these states have freer government and less restrictions on trade. Milton Friedman unions government country I believe the role that people like myself have played in the transformation of public opinion has been by persistently presenting a different point of view, a point of view which stresses the importance of private markets, of individual freedom, and the distorting effect of governmental policy. Milton Friedman stress views believe What you have as a result of past policies is that German entrepreneurs go outside of Germany for many of their activities. They are investing abroad instead of at home because there isn't the openness, fluidity and opportunity they find outside their borders. Milton Friedman home opportunity past Italy may well be the main problem. It has benefited most from the euro by having been able to get the euro interest rate instead of what otherwise would have been its own. That would be much higher because Italy has been accumulating so much debt. In the past, Italy has inflated away its debt. The virtue of the euro is that Italy can't do it alone. A tight ECB policy wouldn't permit that to happen again. Milton Friedman debt would-be past The euro is good for Europe. But only if there is flexibility all around. Milton Friedman euro ifs europe The euro is going to be a big source of problems, not a source of help. Milton Friedman source problem helping Germany cannot get out of the euro. What it has to do, therefore, is make the economy more flexible - to eliminate the restrictions on prices, on wages and on employment; in short, the regulations that keep 10 percent of the German workforce unemployed. Milton Friedman germany employment wages If the US government spends 40 percent of the nation's income, as it does through either borrowing or taxes, that income is not available for people to spend. The deficit is an indirect method of taxation. Of course, politicians prefer to borrow instead of tax because then someone down the road has to deal with the consequences. Milton Friedman government doe people It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society. Milton Friedman aspect population quality In the current world, with the skills needed, dropouts [like no secondary education] are condemned to being members of the underclass. In my view, this is a fault of the American school system, which is a government monopoly. Milton Friedman government views school In the US, the problem is primary and secondary education. We've had such an increase in inequality because a quarter of American kids don't finish high school! Milton Friedman problem kids school On aging societies, there is no reason why a country that has a lot of old people can't be prosperous if, during their working lives, individuals provide for their retirement. Milton Friedman retirement country people To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states. Milton Friedman currency unions independent The Internet moves us closer to "perfect information" on markets. Individuals and companies alike can buy and sell across borders and jurisdictions wherever they find the best match of supply and demand. Milton Friedman borders perfect moving
