Milton Friedman Quotes
Concentrated power is not rendered harmless by the good intentions of those who create it.
Friedman, Milton. Capitalism and Freedom. University of Chicago Press, 1962, p. 20.
Arguing the need to limit the power of the legislature:
Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men.
Perhaps the most famous quotation in all of Political Science is this one. What is fascinating is that 74 years earlier, Shelly, the most famous of the English Poets expressed the same idea in one of his great poems. See {627920}. The last sentence of this quote is often excluded.
Bartolo was the most famous legal expert of his day and for many years thereafter as he died at the age of 44—the height of his career. In Italy, Spain and other nations of Europe there were statutes passed that said if there was no precedent in Roman Law, the writings of Bartolo should dictate the law.
This is the argument—an essence of Fascism—of every dictator from Julius Caesar onward. See {640792} for more of his views on dictators.
Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students and young professors who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell and Robert Lucas Jr.
