Inflation is taxation without representation.
Tag: Milton Friedman
(1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, “ultimate guru of the free-market system”
The strongest argument for free enterprise
The strongest argument for free enterprise is that it prevents anybody from having too much power. Whether that person is a government official, a trade union official, or a business executive. It forces them to put up or shut up. They either have to deliver the goods, produce something that people are willing to pay for, are willing to buy, or else they have to go into a different business.
Cooperation vs. force
The essential notion of a capitalist society … is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force.
The burden of government
[T]he burden of government is not measured by how much it taxes, but by how much it spends.
Advances come from free men
The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.
The Harrison Bergeron effect
The use of force to achieve equality will destroy freedom, and the force, introduced for good purposes, will end up in the hands of people who use it to promote their own interest.
Prohibition destroys civil rights
I think that prohibition of drugs is the most immoral program that the United States has ever engaged in. It’s destroyed civil rights at home and it is responsible for thousands of deaths abroad.
One role of prohibition is in making the drug market more lucrative.
The power of the free market
The preservation of freedom is the protective reason for limiting and decentralizing governmental power. But there is also a constructive reason. The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.
How to limit government?
The most unresolved problem of the day is precisely the problem that concerned the founders of this nation: How to limit the scope and power of government. Tyranny, restrictions on human freedom, come primarily from governmental restrictions that we ourselves have set up.