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More Quotes by Milton Friedman
The most important single central fact about a free market is that no exchange takes place unless both parties benefit.
If capitalism worked as the socialists think an economic system ought to work, and provided a constant equality of living conditions for all, regardless of whether a man was able or not, resourceful or not, diligent or not, thrifty or not, if capitalism put no premiums on resourcefulness and effort and not penalty on idleness or vice, it would produce only an equality of destitution.
The only corporate social responsibility a company has is to maximize its profits.
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.
You cannot simultaneously have free immigration and a welfare state.
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.
When everybody owns something, nobody owns it, and nobody has a direct interest in maintaining or improving its condition. That is why buildings in the Soviet Union - like public housing in the United States - look decrepit within a year or two of their construction.
If you pay people not to work and tax them when they do, don't be surprised if you get unemployment.
Society doesn't have values. People have values.
The government doesn't have any money. The only power it has is to take from some and give to others.
