You had a flood of immigrants, millions of them, coming to this country. What brought them here? It was the hope for a better life for them and their children. And, in the main, they succeeded. It is hard to find any century in history, in which so large a number of people experience so great an improvement in the conditions of their life, in the opportunities open to them, as in the period of the 19th and early 20th century.
Milton FriedmanWhat you have as a result of past policies is that German entrepreneurs go outside of Germany for many of their activities. They are investing abroad instead of at home because there isn't the openness, fluidity and opportunity they find outside their borders.
Milton FriedmanIn response to a suggestion that total free trade would end in cheaper foreign products flooding the market and causing unemployment.
Milton FriedmanThe Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.
Milton Friedman