I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements.
Milton FriedmanI believe that the monetary stability is an absolutely critical element in the satisfactory operation of a system.
Milton FriedmanIf even a small fraction of the money we now spend on trying to enforce drug prohibition were devoted to treatment and drug rehabilitation, in an atmosphere of compassion not punishment, the reduction in drug usage and in the harm done to users could be dramatic.
Milton FriedmanThe great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government.
Milton Friedman