The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
Milton Friedman

The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.
Milton Friedman

The most important single central fact about a free market is that no exchange takes place unless both parties benefit.
Milton Friedman

The most important ways in which I think the Internet will affect the big issue is that it will make it more difficult for government to collect taxes.
Milton Friedman

The only relevant test of the validity of a hypothesis is comparison of prediction with experience.
Milton Friedman

The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom.
Milton Friedman

The power to do good is also the power to do harm.
Milton Friedman

The problem of social organization is how to set up an arrangement under which greed will do the least harm, capitalism is that kind of a system.
Milton Friedman

There's no such thing as a free lunch.
Milton Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself.
Milton Friedman

Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.
Milton Friedman

We have a system that increasingly taxes work and subsidizes nonwork.
Milton Friedman