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Read through the most famous quotes from Milton Friedman
The only relevant test of the validity of a hypothesis is comparison of prediction with experience. ↗
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. ↗
Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless. ↗
#combination #cover #good #government #ink
Friedman proposed a negative income tax to replace the existing welfare system. Friedman's essay "The Methodology of Positive Economics" (1953) provided the epistemological pattern for his own subsequent research and to a degree that of the Chicago School. He once stated that his role in eliminating U.
He theorized there existed a "natural" rate of unemployment and argued that governments could increase employment above this rate (e. by increasing aggregate demand) only at the risk of causing inflation to accelerate. His ideas concerning monetary policy taxation privatization and deregulation influenced government policies especially during the 1980s.
