“Economists may not know much. But we know one thing very well: how to produce surpluses and shortages. Do you want a surplus? Have the government legislate a minimum price that is above the price that would otherwise prevail. That is what we have done at one time or another to produce surpluses of wheat, of sugar, of butter, of many other commodities. Do you want a shortage? Have the government legislate a maximum price that is below the price that would otherwise prevail.”
Quote by Milton Friedman
Work
Free to Choose: A Personal Statement
This book is a compilation of essays and lectures that discuss the principles of free markets and individual liberty. The author explores the impact of government intervention on economic systems and society, advocating for a minimalist state role in the economy. more
Author
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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