Economy Quote by Milton Friedman
“Germany cannot get out of the euro. What it has to do, therefore, is make the economy more flexible - to eliminate the restrictions on prices, on wages and on employment; in short, the regulations that keep 10 percent of the German workforce unemployed.”
About This Quote
Source Speech: Economic Policy Forum, 1995
Economic flexibility requires removing price, wage, and employment controls to reduce structural unemployment.
In simple terms: Flexibility reduces unemployment.
Key Takeaway
Promote market-driven reforms.
Themes
economics
labor markets
policy
unemployment
regulation
Mood
analytical
cautious
Type
policy
economic
When to use this quote
- government policy
- business planning
- job seekers
Key Concepts
price rigidity
wage rigidity
employment protection
Questions to Reflect On
- What are the risks of deregulation?
- How can vulnerable workers be protected?
A Different Perspective
Reforms may cause short‑term disruption.
