Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition. — Milton Friedman Copy Share Image
We measure poverty by what I believe is a very, very crude concept. We actually measure poverty by trying to get some… — Milton Friedman Copy Share Image
Economists may not know much. But we know one thing very well: how to produce surpluses and shortages. Do you want a… — Milton Friedman Copy Share Image
A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills. — Milton Friedman Copy Share Image
I am convinced that the minimum-wage law is the most anti-Negro law on our statute books in its effect, not its intent. — Milton Friedman Copy Share Image
Because it is one thing to have free immigration to jobs. It is another thing to have free immigration to welfare. And… — Milton Friedman Copy Share Image
The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest.… — Milton Friedman Copy Share Image
The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the… — 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
