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?”
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.
Question the role of state in market failures.
Themes
Mood
Type
When to use this quote
- healthcare
- drug enforcement
- economic policy
Key Concepts
Questions to Reflect On
- Should the government intervene in failing markets?
- What are alternatives to expansion?
State expansion can stifle competition and innovation.