Milton FriedmanThinkers

An Aging society (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠not a problem if, during one's working live, the individual provides for their retirement.

An Average (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠often a misleading piece of data. One should never try to walk across a river just because it has an average depth of four feet.

The Black market (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠a way of getting around government controls, of enabling the free market to work. It was a way of opening up, enabling people.

Bureaucracy (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠a system wherein useless work drives out useful work.

Business (n.) has ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠one and only one responsibility: To use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.

Business's (n.) social ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠responsibility is to increase its profits.

Certainty (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠not certain unless one understands the arguments against one's views better than one's opponents.

Collectivism (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠a simple if false argument based on immediate emotion. Individualism is based on a more subtle and sophisticated, indirect rational argument.

Collectivism (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠appealing to intellectuals because it has a simplistic answer for every problem: Pass a law and do something about it.

The Consumer (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠not to be protected by the government, but against it.

Consumption (n.) is ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠a metric whereby people have been getting more and more equal. That is the fraction of families that have a dishwasher, a sewing machine, and a television set is increasingly small.