The essential notion of a capitalist society is voluntary cooperation and voluntary exchange. The essential notion of a socialist society is fundamentally force. If the government is the master, you ultimately have to order people what to do. Whenever you try to do good with somebody else’s money, you are committed to using force. How can you do good with somebody else’s money unless you first take it away from them? The only way you can take it away from them is by threat of force. You have a policeman, a tax collector who comes to take it away from them. Whenever you use force, the bad moral value of force triumphs over good intentions. — Milton Friedman Read more →
EppsNet Archive: Milton Friedman
Government Should Be a Referee
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 comes in inefficiency, lack of motivation, and loss of freedom. Government should be a referee, not an active player. — Milton Friedman Read more →
If All We Want Are Jobs
If all we want are jobs, we can create any number — for example, have people dig holes and then fill them up again, or perform other useless tasks. Work is sometimes its own reward. Mostly, however, it is the price we pay to get the things we want. Our real objective is not just jobs but productive jobs — jobs that will mean more goods and services to consume. — Milton Friedman Read more →
The Great Virtue of a Free Market System
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. — Milton Friedman Read more →
A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both. -– Milton Friedman
Well first of all, tell me: Is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy. — Milton Friedman
Link
If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand. — Milton Friedman
There Are Four Ways You Can Spend Money
There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money. Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost. Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch! Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government. And that’s close to 40%… Read more →
Are There Any Intelligent People Currently Living?
I was at LA Fitness this morning . . . one of the TVs was showing an interview with Jameis Winston on ESPN. Winston is borderline retarded but thinks he’s articulate — a deadly combination. He’s a very talented athlete. Just show clips of his athletic accomplishments. They’re impressive and fun to watch. Why would anyone want to talk to him or listen to him talk? The interviewer is paid to endure it, I get that, but why foist it on the viewing public? Maybe it’s the train wreck element. It was very painful to watch and yet I couldn’t look away! Rarely is one person gifted in multiple ways. Some people are great athletes, some people are intelligent and interesting . . . the overlap between the two groups is very small. Listening to Jameis Winston talk is like watching Milton Friedman take batting practice or Albert Einstein work… Read more →
Well, there are fewer limits on what you can promise than on what you can deliver. — Milton Friedman
Thomas Jefferson on “You Didn’t Build That”
Almost everything appertaining to the circumstances of a nation, has been absorbed and confounded under the general and mysterious word government. Though it avoids taking to its account the errors it commits, and the mischiefs it occasions, it fails not to arrogate to itself whatever has the appearance of prosperity. It robs industry of its honours, by pedantically making itself the cause of its effects; and purloins from the general character of man, the merits that appertain to him as a social being. — Thomas Paine, Rights of Man (1792) My fellow Americans — You see how my friend Tom Paine, 220 years ago, perfectly anticipated — and rejected — your President Obama’s “You didn’t build that” quote. Oh yes, we were aware of the “progressive” philosophy — that everything good comes from government — even then and we wanted no part of it. By the way, I notice that… Read more →
Milton Friedman Would Be 100 Years Old Today
What the market does is to reduce greatly the range of issues that must be decided through political means, and thereby to minimize the extent to which government need participate directly in the game. The characteristic feature of action through political channels is that it tends to require or enforce substantial conformity. The great advantage of the market, on the other hand, is that it permits wide diversity. It is, in political terms, a system of proportional representation. Each man can vote, as it were, for the color of tie he wants and get it; he does not have to see what color-the majority wants and then, if he is in the minority, submit. It is this feature of the market that we refer to when we say that the market provides economic freedom. But this characteristic also has implications that go far beyond the narrowly economic. Political freedom means… Read more →
The Art of the Possible
The role of the economist in discussions of public policy seems to me to be to prescribe what should be done in light of what can be done, politics aside, and not to predict what is “politically feasible” and then to recommend it. — Milton Friedman Take out the references to economics and public policy and you can probably apply the “what should be done in light of what can be done” approach in your own work. It’s the art of the possible . . . Read more →