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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.
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More Quotes by Milton Friedman
If you pay people not to work and tax them when they do, don't be surprised if you get unemployment.
When you start paying people to be poor, you wind up with an awful lot of poor people.
You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.
We have a system that increasingly taxes work and subsidizes nonwork.
Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces the area over which political power is exercised.
Society doesn't have values. People have values.
Higher taxes never reduce the deficit. Governments spend whatever they take in and then whatever they can get away with.
The most important single central fact about a free market is that no exchange takes place unless both parties benefit.
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.
Nobody spends somebody else's money as carefully as he spends his own.
