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Quote by Milton Friedman

“Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around.”

Quote by Milton Friedman

Book:Capitalism and Freedom: Fortieth Anniversary Edition

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 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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“It is my view that what is important is cutting government spending, however spending is financed. A so-called deficit is a disguised and hidden form of taxation. The real burden on the public is what government spends (and mandates others to spend). As I have said repeatedly, I would rather have government spend one trillion dollars with a deficit of a half a trillion than have government spend two trillion dollars with no deficit.”

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“The way you solve things is by making it politically profitable for the wrong people to do the right thing.”

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“Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been. And because of our efforts, we have earned our salaries ten-thousand fold.”

Has Beens Effort Thousand Ten Percent Thanks Adam Economist Salary Folds Tariffs

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“Look around you and look at history. You will see the achievements of man’s mind. You will see man’s unlimited potentiality for greatness, and the faculty that makes it possible. You will see that man is not a helpless monster by nature, but he becomes one when he discards that faculty: his mind. And if you ask me, what is greatness? I will answer, it is the capacity to live by the three fundamental values of John Galt: reason, purpose, self-esteem.”

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“For they have nothing to fight me with, save the brute force of their numbers. I have my mind.”

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“No extension of foreign trade will immediately increase the amount of value in a country, although it will very powerfully contribute to increase the mass of commodities and therefore the sum of enjoyments.”

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Book:The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

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“The farmer and manufacturer can no more live without profit than the labourer without wages.”

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Book:The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

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“But it is clear that the price of labour has no necessary connection with the price of food, since it depends entirely on the supply of labourers compared with the demand.”

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“If a tax on malt would raise the price of beer, a tax on bread must raise the price of bread.”

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Book:The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

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