Fundamentally, there are only two ways of co-ordinating the economic activities of millions. One is central direction involving the use of coercion -… - Milton Friedman

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Fundamentally, there are only two ways of co-ordinating the economic activities of millions. One is central direction involving the use of coercion - the technique of the army and of the modern totalitarian state. The other is voluntary co-operation of individuals - the technique of the market place.

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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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Additional quotes by Milton Friedman

You can not simultaneously have free immigration and a welfare state.

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. So the answer is to allow only pollution that’s worth what it costs, and not any pollution that isn’t worth what it costs.

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As Dr. Gunnar Biörck, an eminent Swedish professor of medicine and head of the department Of medicine at a major Swedish hospital, has written: The setting in which medicine has been practiced during thousands of years has been one in which the patient has been the client and employer of the physician. Today the State, in one manifestation or the other, claims to be the employer and, thus, the one to prescribe the conditions under which the physician has to carry out his work. These conditions may not — and will eventually not — be restricted to working hours, salaries and certified drugs; they may invade the whole territory of the patient-physician relationship.... If the battle of today is not fought and not won, there will be no battle to fight tomorrow.20

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