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Image of the quote is loading... SaveSave These people live in many lands, speak different languages, practice different religions, may even hate one another- yet none of these differences prevented them from cooperating to produce a pencil. How did it happen? Adam Smith gave us the answer two hundred years ago. - Quote by Milton Friedman

These people live in many lands, speak different languages, practice different religions, may even hate one another- yet none of these differences prevented them from cooperating to produce a pencil. How did it happen? Adam Smith gave us the answer two hundred years ago.

Milton Friedman
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More Quotes From Milton Friedman

Inflation is one form of taxation that can be imposed without legislation.
Milton Friedman
What kind of society isn't structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm capitalism is that kind of a system.
Milton Friedman
There is only one social responsibility of business - to use its resources and engage in activities designed to increase its profits without deception or fraud.
Milton Friedman
I am a libertarian with a small 'l' and a Republican with a capital 'R'. And I am a Republican with a capital 'R' on grounds of expediency, not on principle.
Milton Friedman
I have been enormously impressed by the role that pure chance plays in determining our life history. I was reminded of some famous lines of Robert Frost:Two roads diverged in a yellow wood,And sorry I could not travel bothI took the one less travled by,And that has made all the difference.As I recalled my own experience and development, I was impressed by the series of lucky accidents that determined the road I traveled.> From "Lives of the Laureates" pg.67
Milton Friedman
The argument for collectivism is simple if false; it is an immediate emotional argument. The argument for individualism is subtle and sophisticated; it is an indirect rational argument. And the emotional faculties are more highly developed in most men than the rational, paradoxically or especially even in those who regard themselves as intellectuals
Milton Friedman
We economists don't know much, but we do know how to create a shortage. If you want to create a shortage of tomatoes, for example, just pass a law that retailers can't sell tomatoes for more than two cents per pound. Instantly you'll have a tomato shortage. It's the same with oil or gas.
Milton Friedman
This plea comes from the bottom of my heart. Every friend of freedom, and I know you are one, must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence. A country in which shooting down unidentified planes "on suspicion" can be seriously considered as a drug-war tactic is not the kind of United States that either you or I want to hand on to future generations.
Milton Friedman
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