The lesson for Asia is; if you have a central bank, have a floating exchange rate; if you want to have a fixed exchange rate, abolish your central bank and adopt a currency board instead. Either extreme; a fixed exchange… — Milton Friedman Copy Share Image
The problem is that, in a world of floating exchange rates, as Italy was before the euro, if one country is subjected to a shock which requires it to cut wages, it cannot do so with a modern kind of… — 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
I think almost every economist would agree that government gets itself in trouble when it tries to interfere with voluntary behavior. — Milton Friedman Copy Share Image
It is most attractive about the US to people and countries with wealth is that it can provide security, insurance really, against political instability.… — Milton Friedman Copy Share Image
Hong Kong is the bellwether. If the Chinese stick to their agreement to let Hong Kong go its own path, then China will also… — Milton Friedman Copy Share Image
