Milton Friedman Quotes


In a bureaucratic system, useless work drives out useful work.


Citations

Friedman, Milton, and Rose Friedman. Free to Choose: A Personal Statement. Harcourt Brace Jovanovich, 1980.

Related Quotes

Jefferson is the hero of the “small government” enthusiasts of modern times. In his day it was the conservative Federalists who wanted a larger government while the Jeffersonians, the radicals of the day argued for smaller government. Jefferson not only favored smaller government, but he actually cut the size of the Federal workforce something which in modern times no president has done except for William Clinton.


Milton Friedman
Milton Friedman
  • Born: July 31, 1912
  • Died: November 16, 2006
  • Nationality: American
  • Profession: Economist

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.