Economist:Milton Friedman: Difference between revisions
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=== On Deflation and Central Banking === | === On Deflation and Central Banking === | ||
"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."<ref name="ref_1963_p17_1">Milton Friedman, ''A Monetary History of the United States'' (1963), p. 17, Princeton University Press</ref> | "Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."<ref name="ref_1963_p17_1">Milton Friedman, ''A Monetary History of the United States'' (1963), p. 17, Princeton University Press</ref> | ||
=== On Economic Measurement in Digital Economy === | === On Economic Measurement in Digital Economy === | ||
"The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy."<ref name="ref_1980_p71_1">Milton Friedman, ''Free to Choose'' (1980), p. 71, Harcourt Brace Jovanovich</ref> | "The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy."<ref name="ref_1980_p71_1">Milton Friedman, ''Free to Choose'' (1980), p. 71, Harcourt Brace Jovanovich</ref> | ||
=== On Zero Marginal Cost Society === | |||
"There's no such thing as a free lunch."<ref name="ref_1975_1">Milton Friedman, ''There's No Such Thing as a Free Lunch'' (1975), p. ix, Open Court</ref> | |||
=== On AI Governance and Regulation === | |||
"The government solution to a problem is usually as bad as the problem."<ref name="ref_1972_p6_1">Milton Friedman, ''An Economist's Protest'' (1972), p. 6, Thomas Horton & Company</ref> | |||
=== On Economic Measurement in Digital Economy === | |||
"One of the great mistakes is to judge policies and programs by their intentions rather than their results."<ref name="ref_1975_1">Milton Friedman, ''Interview with Richard Heffner'' (1975), December 7, 1975</ref> | |||
== References == | == References == | ||
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[[Category:Economist]] | [[Category:Economist]] | ||
[[Category:Chicago School]] | [[Category:Chicago School]] | ||
Revision as of 20:56, 12 August 2025
Milton Friedman
Biography
American economist and statistician who received the 1976 Nobel Prize in Economic Sciences. A leader of the Chicago School of economics.
School of Thought
Chicago School
Notable Quotes
On Deflation and Central Banking
"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."[1]
On Economic Measurement in Digital Economy
"The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy."[2]
On Zero Marginal Cost Society
"There's no such thing as a free lunch."[3]
On AI Governance and Regulation
"The government solution to a problem is usually as bad as the problem."[4]
On Economic Measurement in Digital Economy
"One of the great mistakes is to judge policies and programs by their intentions rather than their results."[3]
References
- ↑ Milton Friedman, A Monetary History of the United States (1963), p. 17, Princeton University Press
- ↑ Milton Friedman, Free to Choose (1980), p. 71, Harcourt Brace Jovanovich
- ↑ 3.0 3.1 Milton Friedman, There's No Such Thing as a Free Lunch (1975), p. ix, Open Court Cite error: Invalid
<ref>tag; name "ref_1975_1" defined multiple times with different content - ↑ Milton Friedman, An Economist's Protest (1972), p. 6, Thomas Horton & Company