In the past century a myth has grown up that free market capitalism-equality of opportunity as we have interpreted that term-increases such inequalities, that it is a system under which the rich exploit the poor. Nothing could be further from the truth. Wherever the free market has been permitted to operate, wherever anything approaching equality of opportunity has existed, the ordinary man has been able to attain levels of living never dreamed of before. Nowhere is the gap between rich and poor wider, nowhere are the rich richer and the poor poorer, than in those societies that do not permit the free market to operate.
Milton FriedmanRelated topics
able anything approaching attain century equality exploit free gap living man market myth nothing nowhere opportunity ordinary past permit poor rich system truth underRelated quotes
It is a fearful thing to hate whom God hath loved. To look upon another-his weaknesses, his sins, his faults, his defects is to look upon one who is suffering. He is suffering from negative passions, from the same sinful human corruption from which you yourself suffer. This is very important: do not look upon him with judgmental eyes of comparison, noting the sins you assume you'd never commit. Rather, see him as a fellow sufferer, a fellow human being who is in need of the very healing of which you are in need. Help him, love him, pray for him do unto him as you would have him do unto you.
Tikhon of Zadonsk
...we have become rich in a variety of acquirements, favoured above measure in the gifts of Providence, unrivalled in commerce, pre-eminent in arts, foremost in the pursuits of philosophy and science, and established in all the blessings of civil society; we are in the possession of peace, of happiness, and of liberty; we are under the guidance of a mild and beneficent religion; and we are protected by impartial laws, and the purest administration of justice: we are living under a system of government which our own happy experience leads us to pronounce the best and wisest which has ever yet been framed; a system which has become the admiration of the world.
William Pitt the Younger
While it is never safe to affirm that the future of Physical Science has no marvels in store even more astonishing than those of the past, it seems probable that most of the grand underlying principles have been firmly established and that further advances are to be sought chiefly in the rigorous application of these principles to all the phenomena which come under our notice. It is here that the science of measurement shows its importance - where quantitative work is more to be desired than qualitative work. An eminent physicist remarked that the future truths of physical science are to be looked for in the sixth place of decimals.
Albert Abraham Michelson
One can in particular interpret the proposition as a statement conditions under which the simplicity of incentive structure and the economies of information handling characteristic of a competitive market organization can be secured without loss of efficiency of allocation... The price system carries to each producer, resource holder, or consumer a summary of information about the production possibilities, resource availabilities and preferences of all other decision makers. Under the conditions postulated, this summary is all that is needed to keep all decision makers reconciled with a Pareto optimal state once it has been established.
Tjalling Koopmans
But no, I just don't think with the scientific evidence now -- I think I read an article yesterday on the death penalty, and 68 percent of the time they make mistakes. And it's so racist, too. I think more than half the people getting the death penalty are poor blacks. This is the one place, the one remnant of racism in our country is in the court system, enforcing the drug laws and enforcing the death penalty. I don't even know, but I wonder how many of those, how many have been executed? Over 200, I wonder how many were minorities? You know, if you're rich, you usually don't meet the death penalty.
Ron Paul
