Productivity

Milton Friedman

We have a system that increasingly taxes work and subsidizes non-work.

The Wisdom of Milton Friedman

"The power to determine the quantity of money... is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power... Any system which gives so much power and so much discretion to a few men, [so] that mistakes - excusable or not - can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic - this is the key political argument against an independent central bank.''


Quote by: Milton Friedman(1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"

The Wisdom of Milton Friedman

"I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements."


Quote by: Milton Friedman(1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"
Source: 'Capitalism and Freedom'

The Philosophy of Spending

"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 doesn’t care how much he spends or what he spends it on. And that's government for you. "

Milton Friedman

The Wise Milton Friedman

"The economic miracle that has been the United States was not produced by socialized enterprises, by government-union-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline."

Milton Friedman

Wisdom from Milton Friedman

"Fundamentally, there are only two ways of coordinating the economic activities of millions. One is central direction involving the use of coercion . the technique of the army and of the modern totalitarian state. The other is voluntary cooperation of individuals . the technique of the marketplace."

Milton Friedman

Milton Friedman on Libertarianism

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

Required viewing for all who claim to be a Libertarian.