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Business Quote by Milton Friedman

“When a private enterprise fails, it is closed down; when a government enterprise fails, it is expanded. Isn't that exactly what's been happening with drugs?” quote by Milton Friedman
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“When a private enterprise fails, it is closed down; when a government enterprise fails, it is expanded. Isn't that exactly what's been happening with drugs?”

Milton Friedman

About This Quote

Source Speech: Public Lecture, 1970s (paraphrased)

Private firms close when they fail; government agencies expand despite failure, especially in drug policy.

In simple terms: Government often grows when private fails.

Key Takeaway

Question the role of state in market failures.

Themes

economics government policy drug control

Mood

critical analytical

Type

political economic

When to use this quote

  • healthcare
  • drug enforcement
  • economic policy

Key Concepts

public vs private sector failure dynamics

Questions to Reflect On

  • Should the government intervene in failing markets?
  • What are alternatives to expansion?
A Different Perspective

State expansion can stifle competition and innovation.

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