What central banks can control is a base and one way they can control the base is via manipulating a particular interest… — Milton Friedman Copy Share Image
The central banks cannot control interest rates. That's a mistake. They can control a particular rate, such as the Federal Funds rate,… — Milton Friedman Copy Share Image
The lesson for Asia is; if you have a central bank, have a floating exchange rate; if you want to have a… — Milton Friedman Copy Share Image
The case against a fully independent central bank is strong indeed. — Milton Friedman Copy Share Image
Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy,… — Milton Friedman Copy Share Image
There's only one thing that all of the central banks control and that is the base, their own liability, and they can… — Milton Friedman Copy Share Image
The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation… — Milton Friedman Copy Share Image
The power to determine the quantity of money... is too important, too pervasive, to be exercised by a few people, however public-spirited,… — Milton Friedman Copy Share Image
No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that… — Milton Friedman Copy Share Image
Inflation is a monetary phenomenon. It is made by or stopped by the central bank. — Milton Friedman Copy Share Image
My monetary studies have led me to the conclusion that central banks could profitably be replaced by computers geared to provide a… — Milton Friedman Copy Share Image
The government solution to a problem is usually as bad as the problem. — Milton Friedman Copy Share Image
I believe the role that people like myself have played in the transformation of public opinion has been by persistently presenting a different point… — Milton Friedman Copy Share Image
To really understand something you've got to reduce it to its principles. — Milton Friedman Copy Share Image
It is a mark of how far we have gone on the road to serfdom that government allocation and rationing of oil is the… — Milton Friedman Copy Share Image
Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces… — Milton Friedman Copy Share Image
“The people in one district can choose not to reelect their member of Congress, but that will not change the composition of the government… — Milton Friedman Copy Share Image
When you have a time of crisis what happens depends on what ideas are floating around, and what ideas have been developed, and thought… — Milton Friedman Copy Share Image
The government doesn't have any money. The only power it has is to take from some and give to others. — Milton Friedman Copy Share Image
What would the people who sold us goods do with the money? They'd get dollars. What would they do with the dollars? Eat them?! — Milton Friedman Copy Share Image
World trade depends on differences among countries, not similarities. Different countries are in different stages of development. It is appropriate for them to have… — Milton Friedman Copy Share Image
Is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run… — Milton Friedman Copy Share Image
Well first of all, tell me, is there some society you know of that doesn't run on greed? You think Russia doesn't run on… — Milton Friedman Copy Share Image
