Chance Quote by Milton Friedman
“If freedom were not so economically efficient it certainly wouldn't stand a chance.”
About This Quote
Source Speech: University of Chicago Economics Department, 1970
Economic efficiency is a prerequisite for freedom; without it, liberty cannot be sustained.
In simple terms: Freedom needs to be economically viable.
Promote policies that are both free and efficient.
Themes
Mood
Type
When to use this quote
- public policy debates
- business strategy
- government budgeting
- entrepreneurial ventures
Key Concepts
Questions to Reflect On
- Is efficiency always compatible with fairness?
- How can we protect vulnerable groups while maintaining efficiency?
Efficiency alone may ignore equity and justice concerns.