Economist:Milton Friedman
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]
References
Additional Notable Quotes
On Zero Marginal Cost Society
"There's no such thing as a free lunch."[1]
On AI Governance and Regulation
"The government solution to a problem is usually as bad as the problem."[2]
On Economic Measurement in Digital Economy
"One of the great mistakes is to judge policies and programs by their intentions rather than their results."[1]