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Quote by Milton Friedman

“Inflation is a monetary phenomenon. It is made by or stopped by the central bank.”

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Milton Friedman was a renowned economist known for his contributions to the field of free-market economics. His research in monetary economics, consumer behavior, and tax policy has had a profound impact. more

“Italy may well be the main problem. It has benefited most from the euro by having been able to get the euro interest rate instead of what otherwise would have been its own. That would be much higher because Italy has been accumulating so much debt. In the past, Italy has inflated away its debt. The virtue of the euro is that Italy can't do it alone. A tight ECB policy wouldn't permit that to happen again.”

Wells May Has Beens Problem Happens Would Be Able Past Interest Virtue Policy Higher Rate Debt Permit Euro Interest Rate

Author:Milton Friedman

“The euro is good for Europe. But only if there is flexibility all around.”

Ifs Europe Flexibility Euro

Author:Milton Friedman

“The problem is that, in a world of floating exchange rates, as Italy was before the euro, if one country is subjected to a shock which requires it to cut wages, it cannot do so with a modern kind of control and regulation system. It is much easier to do it by letting the exchange rate change. Only one price has to change, instead of many.”

Ifs World Kind Country Problem Cutting Modern Easier Rate Shock Regulation Wages Floating Euro

Author:Milton Friedman

“If you look at the balance sheet, the US is heavily in debt. If you look at the income account - the amount of interest the US pays abroad - it is almost exactly equal to the amount of interest that it receives from abroad. American assets held abroad are earning a higher rate of return than foreign assets held here.”

Ifs Looks Interest Pay Return Amount Balance Higher Equal Accounts Rate Debt Income Assets Earning Sheets Balance Sheets

Author:Milton Friedman

“It is most attractive about the US to people and countries with wealth is that it can provide security, insurance really, against political instability. Nobody is afraid that the money they place in the US is at risk of expropriation or of in some other way being taken away. For this safety, the wealth holders of the world are willing to accept a lower rate of return.”

People World Way Country Political Wealth Accepting Taken Risk Security Willing Return Safety Rate Attractive Instability Political Instability

Author:Milton Friedman

“It doesn't worry me a bit that China and Japan hold so much US debt. In a way, it seems foolish for them to do it because they get lower returns than they might elsewhere. But that is their business.”

Way Seems Might Bits Worry Return China Debt Foolish Japan Elsewhere China And Japan

Author:Milton Friedman

“For me, there's always a huge attraction in playing real people. But with it comes an incredible sense of responsibility because you're playing a real person in a real event.”

People Persons Real Responsibility Events Huge Incredibles Attraction Real Person Sense Of Responsibility

Author:Naoko Mori

“What I love is finding immersive jobs. I've always wanted a challenge.”

Wanted Jobs Challenges Love Is Findings

Author:Naoko Mori

“I have this belief about things happening organically. I believe life has this organic flow in a way.”

Way Believe Belief I Believe Happenings Flow Things Happen

Author:Naoko Mori

Quote by Milton Friedman

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