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More Quotes by Milton Friedman
One of the great mistakes is to judge policies and programs by their intentions rather than their results.
A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
The word 'free' is used three times in the Declaration of Independence and once in the First Amendment to the Constitution, along with 'freedom.' The word 'fair' is not used in either of our founding documents.
If you pay people not to work and tax them when they do, don't be surprised if you get unemployment.
Since the 1930s the technique of buying votes with the voters' own money has been expanded to an extent undreamed of by earlier politicians.
The government doesn't have any money. The only power it has is to take from some and give to others.
What makes it [economics] most fascinating is that its fundamental principles are so simple that they can be written on one page, that anyone can understand them, and yet very few do.
Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect citizens from crimes against themselves or their property. When government-- in pursuit of good intentions tries to rearrange the economy, legislate morality, or help special interests, the cost come in inefficiency, lack of motivation, and loss of freedom. Government should be a referee, not an active player.
We economists don't know much, but we do know how to create a shortage. If you want to create a shortage of tomatoes, for example, just pass a law that retailers can't sell tomatoes for more than two cents per pound. Instantly you'll have a tomato shortage. It's the same with oil or gas.
The government solution to a problem is usually as bad as the problem.
