Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.
More Quotes from Milton Friedman:
History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.Milton Friedman
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.
Milton Friedman
And what does reward virtue? You think the communist commissar rewards virtue? You think a Hitler rewards virtue? You think, excuse me, if you'll pardon me, American presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of their political clout?
Milton Friedman
The most important single central fact about a free market is that no exchange takes place unless both parties benefit.
Milton Friedman
I'm in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.
Milton Friedman
Nobody spends somebody else's money as carefully as he spends his own. Nobody uses somebody else's resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.
Milton Friedman
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