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Quote by Milton Friedman

Work

Capitalism and Freedom: Fortieth Anniversary Edition

This book delves into the core concepts of capitalism and its implications for economic freedom. Written by a renowned economist, it offers an in-depth analysis of economic policies and their effects on society, reflecting on the evolution of economic thought over four decades. more

Author

Milton Friedman
Milton Friedman

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

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“The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybodys actions aim at the satisfaction of other peoples needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens.”

“All of the services commonly thought to require the State-from the coining of money to police protection to the development of law in defense of the rights of person and property-can be and have been supplied far more efficiently and certainly more morally by private persons. The State is in no sense required by the nature of man; quite the contrary.”