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Over short periods, the relation between growth in money and growth in nominal income is often hard to see, partly because the relation is less close… - Milton Friedman
" "Over short periods, the relation between growth in money and growth in nominal income is often hard to see, partly because the relation is less close for short than for long periods, but mostly because it takes time for changes in monetary growth to affect income. And how long a time is itself variable. Today's income growth is not closely related to today's monetary growth; it depends on what has been happening to money in the past. What happens to money today affects what is going to happen to income in the future
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About Milton Friedman
Milton Friedman (31 July 1912 – 16 November 2006) was an American economist noted for his support for free markets and a reduction in the size of government. In 1976 he was awarded a Nobel Prize in Economics.
Biography information from Wikiquote
Also Known As
Alternative Names:
Milton Galbraith Friedman
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What country in the world today engages in the most extreme anti-Semitic persecution? The Soviet Union. It’s not an accident, because if you have a society with concentrated power, if you have a collectivist society, it’s going to be in a position to exercise the preferences and prejudices of its rulers. Moreover, it’s going to have an incentive to do so, because it’s going to need a scapegoat and it will choose some group like the Jews or the blacks to be the scapegoat.
Even the most ardent environmentalist doesn't really want to stop pollution. If he thinks about it, and doesn't just talk about it, he wants to have the right amount of pollution. We can't really afford to eliminate it - not without abandoning all the benefits of technology that we not only enjoy but on which we depend.
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