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Milton Friedman

31 July 1912-16 November 2006

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An Average 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.

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

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Business 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.

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Capitalism is a promoter of political freedom because it separates economic power from political power and in this way enables the one to offset the other.

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Capitalism 1s 2ssential notion is voluntary cooperation and voluntary exchange. The essential notion of a socialist society, by contrast, is force.

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

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

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

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Consumption 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.