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Quote by Milton Friedman

“I believe the role that people like myself have played in the transformation of public opinion has been by persistently presenting a different point of view, a point of view which stresses the importance of private markets, of individual freedom, and the distorting effect of governmental policy.”

Quote by Milton Friedman

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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“If you continue to use monetary policy to attempt to promote full employment the result would be that you would have higher inflation, and that you would not have lower unemployment.”

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“A private enterprise system needs some measuring rod, it needs something, it needs money to make its transactions. You can't run a big complicated system through barter, through converting one commodity into another. You need a monetary system to operate. And the instability in that monetary system is devastating to the performance of the economy.”

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“We measure poverty by what I believe is a very, very crude concept. We actually measure poverty by trying to get some kind of an estimate of the minimum expenditures on food that are required to maintain health, multiplying that number by three, and saying that's the level of poverty. And it's a very crude, inaccurate arrangement.”

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“There is no good way of measuring poverty.”

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“I think in some ways it would make more sense to have as a poverty level a relative concept and say, the level of poverty is that level of income or that level of consumption below which 10 percent of the people now are.”

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“You never can cure poverty. Poverty is in the eye of the beholder.”

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“I think it's a scandal what has been happening in the school system so far as lower income classes. The dropout rates, the illiteracy rate, you know literacy in the United States was a lot higher in 1890 than it is now.”

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