Inflation is taxation without legislation.Inflation: Causes, Consequences, Cures, pp. 71-88; IEA Readings, no. 14, 1974
Author · 19 quotes
Milton Friedman (1912–2006) was an influential American economist and a leading advocate of free-market capitalism. He was known for his work on monetary policy, advocating for deregulation, and promoting the importance of individual choice and competition in the market. Friedman received the Nobel Prize in Economics in 1976 for his contributions to the field.
1912–2006·lived 94 years
Inflation is taxation without legislation.Inflation: Causes, Consequences, Cures, pp. 71-88; IEA Readings, no. 14, 1974
What most people really object to when they object to a free market is that it is so hard for them to shape it to their own will.Capitalism and Freedom, 1962
Keep your eye on one thing and one thing only: how much government is spending, because that’s the true tax.Speech at San Diego Chamber of Commerce, 1978
The most harm of all is done when power is in the hands of people who are absolutely persuaded of the purity of their instincts and intentions.Is Capitalism Humane?, Speech at Cornell University, 1977
It’s so hard for people to get out of the notion that life is a zero-sum game. They think if one man benefits, another must lose. But in a free market, both people can benefit.
Higher taxes will not reduce the deficit, except for a brief interval. They will simply increase government spending. That is the lesson taught by past experiences.An open letter from Milton Friedman to Margaret Thatcher
Higher taxes of any kind, direct or indirect, are bad economics and even worse politics.Open Letter to Margaret Thatcher, 1987
If you pay people not to work and tax them when they do, don't be surprised if you get unemployment.
Human and political freedom has never existed and cannot exist without a large measure of economic freedom.Capitalism and Freedom, 1962
Daise the wage of airline pilots, and air travel will become more expensive. Fewer people will fly, and there will be fewer jobs for airline pilots.Don't Cry for the Pilots - Deregulation Works, The Heritage Foundation, 1983
The programs that are labeled as being for the poor, for the needy, almost always have effects exactly the opposite of those which their well-intentioned sponsors intend them to have.Capitalism and Freedom, p. 151, 1962
There is one thing that you can trust everybody to do, and that is to put his interest above yours.Capitalism and Freedom, 1962
Nothing is so permanent as a temporary government program.Tyranny of the Status Quo, p. 115, 1984
Underlying most arguments against the free market is a lack of belief in freedom itself.Capitalism and Freedom, 1962
The only relevant test of the validity of a hypothesis is comparison of prediction with experience.Capitalism and Freedom, p. 14, 1962
We have a system that increasingly taxes work and subsidizes nonwork.Facing Inflation, Challenge, November/December 1973
There's no such thing as a free lunch.
In a bureaucratic system, useless work drives out useful work.Gammon's Law Points to Health-Care Solution, The Wall Street Journal, 1991
One of the great mistakes is to judge policies and programs by their intentions rather than their results.The Open Mind, Interview with Richard Heffner, 1975
That’s all 19 quotes by Milton Friedman.