People Quote by Milton Friedman
“The way you solve things is by making it politically profitable for the wrong people to do the right thing.”
About This Quote
Source Book: Capitalism and Freedom, 1962
Solutions become politically profitable for the wrong actors when they profit from making the right actions seem costly.
In simple terms: Politics can make good deeds costly for the wrong people.
Key Takeaway
Recognize hidden incentives in policy.
Themes
economics
politics
morality
incentives
policy
corruption
Mood
analytical
critical
Type
philosophical
economic
When to use this quote
- legislative drafting
- regulatory design
- corporate lobbying
- public debate
Key Concepts
public choice theory
moral hazard
political economy
Questions to Reflect On
- What policies create perverse incentives?
- How can we align profit with public good?
A Different Perspective
Complex incentives may be hard to detect and address.
