Share on Facebook Share on Twitter Comment on this quoteShare via Email Print this Page Daily Quotes Archives2010-10-19 Oct 19, 2010Phil Donohue: When you see around the globe the maldistribution of wealth, the desperate plight of millions of people in underdeveloped countries, when you see so few haves and so many have-nots, when you see the greed and the concentration of power, did you ever have a moment of doubt about capitalism? And whether greed is a good idea to run on? Milton Friedman: Well first of all tell me, is there some society you know that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed? Of course none of us are greedy. It's only the other fella that's greedy. The world runs on individuals pursuing their separate interests. The greatest achievements of civilization have not come from government bureaus. Einstein didn't construct his theory under order from a bureaucrat. Henry Ford didn't revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty that you are talking about, the only cases in recorded history are where they have had capitalism and largely free trade. If you want to know where the masses are worst off, it's exactly in the kind of societies that depart from that. So that the record of history is absolutely crystal clear, there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system. Phil Donohue: Seems to reward not virtue as much as the ability to manipulate the system. Milton Friedman: And what does reward virtue? You think the Communist commissar rewards virtue? You think a Hitler rewards virtue? Do you think... American presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of political clout? Is it really true that political self-interest is nobler somehow than economic self-interest? You know I think you are taking a lot of things for granted. And just tell me where in the world you find these angels that are going to organize society for us? Well, I don't even trust you to do that.~ Milton Friedman Oct 18, 2010The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would ... assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.~ Adam SmithNever tell people how to do things. Tell them what you want them to achieve, and they will surprise you with their ingenuity.~ General George S. Patton, Jr.Many laws as certainly make bad men, as bad men make many bad laws.~ Walter Savage Landor Oct 15, 2010The more laws the more offenders.~ Dr. Thomas FullerIt is when power is wedded to chronic fear that it becomes formidable.~ Eric HofferThe meaning of peace is the absence of opposition to Socialism.~ Karl Marx Oct 14, 2010Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so.~ Douglas AdamsI begin to think, that a calm is not desirable in any situation in life....Man was made for action and for bustle too, I believe.~ Abigail AdamsThe one thing that doesn't abide by majority rule is a person's conscience.~ Harper Lee Oct 13, 2010One evening, when I was yet in my nurse’s arms, I wanted to touch the tea urn, which was boiling merrily... My nurse would have taken me away from the urn, but my mother said 'Let him touch it.' So I touched it -- and that was my first lesson in the meaning of liberty.~ John RuskinThose who do not learn from history are doomed to repeat it.~ ProverbA nation that forgets its past is doomed to repeat it.~ Sir Winston Churchill Previous week's quotes Next week's quotes Share on Facebook Tweet Email Print