Milton Friedman on Competition and Economic Freedom

„The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline.“

Milton FriedmanMilton Friedman on competition, private enterprise, and the importance of profit and loss for a dynamic economy.
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Milton Friedman was an American economist and a leading figure in the field of monetarism.

Milton Friedman emphasizes the role of competition, profit, and loss in economic dynamism while warning against government support for failing businesses.


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Milton Friedman quote about competition, private enterprise, and economic freedom

Milton Friedman (1912–2006) was an American economist and Nobel laureate, renowned for his contributions to microeconomics, monetarism, and his advocacy of free-market policies. He influenced economic policy in the US and worldwide.

Quote by Jesús Huerta de Soto about the power of entrepreneurial freedom and the impact of etatismCopyright © yoice.net – Quote Artwork
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"We are unable to even conceive of the immeasurable achievements, progress, and discoveries of mankind that would be attainable in an entrepreneurial environment freed from all etatism. The creative power of human nature is such that it can take root and flourish even in the narrowest crevices left by the state. But when people realize the essentially perverse nature of the state that coerces them and perceive the immeasurable possibilities that are taken away from them day after day by blocking the driving force of their entrepreneurial creativity, then social protest will increase. Then there will be calls for reforms, for dismantling the state, and for steps toward a future that we don't even know today, but that will inevitably lift human civilization to previously unimaginable heights." Jesús Huerta de Soto
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Ronald Reagan quote about government being the problem and self-governanceCopyright © yoice.net – Quote Artwork
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"In this present crisis, government is not the solution to our problem; government is the problem. From time to time we've been tempted to believe, that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people. Well, if no one among us is capable of governing himself, then who among us has the capacity to govern someone else? All of us together, in and out of government, must bear the burden. The solutions we seek must be equitable, with no one group singled out to pay a higher price." Ronald Reagan
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Capitalism quote by Roland Baader about the impact of statism and socialism on free marketsCopyright © yoice.net – Quote Artwork
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"To call the miserable remnants of the free market and free society, which the statism of the modern welfare dictatorship and the creeping socialism of the welfare state have left behind as a kind of market-economic carcass, "capitalism" and to attribute everything that killed it as its own excesses can only appear as an intellectual capacity in a country whose intellectual soil is poisoned by centuries of practiced state mysticism." Roland Baader
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Free Markets and Mutual Benefit – Milton FriedmanMilton Friedman quote about free markets and mutual benefitCopyright © yoice.net – Quote ArtworkQuote image featuring Milton Friedman on the difference between the stock market and the economyCopyright © yoice.net – Quote Artwork“The Stock Market and Economy” – Quote by Milton Friedman