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More Quotes by Milton Friedman
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.
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 great virtue of a free market system is that it does not care what color people are; it does not care what their religion is; it only cares whether they can produce something you want to buy. It is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.
When a man spends his own money to buy something for himself, he is very careful about how much he spends and how he spends it. When a man spends his own money to buy something for someone else, he is still very careful about how much he spends, but somewhat less what he spends it on. When a man spends someone else's money to buy something for himself, he is very careful about what he buys, but doesn't care at all how much he spends. And when a man spends someone else's money on someone else, he does't care how much he spends or what he spends it on. And that's government for you.
You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.
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.
Corruption is government intrusion into market efficiencies in the form of regulations.
Underlying most arguments against the free market is a lack of belief in freedom itself.
Nobody spends somebody else's money as carefully as he spends his own.
