"It was actually a gradual process. Certainly Milton Friedman had a great influence on me here. He was by far the greatest living teacher I have ever had. He really opened my eyes to economics as a powerful engine of analysis. Milton Friedman was just number one. He was a great man."
Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the
"Why should they also be accepted by private persons in private transactions in exchange for goods and services? The short answer—and the right answer—is that private persons accept these pieces of paper because they are confident that others will. The pieces of green paper have value because everybody thinks they have value. Everybody thinks they have value because in everybodys experience they have had value..."
"The basic error, which was widespread long before Friedman and the new monetarism, lies in the assumption that regards the money supply as the source of the demand for goods and services."
"Friedman is the rights Chomsky. Non-experts (can) rarely appreciate the depth of their academic contributions."
"On the whole, the monetarism for which Friedman first became famous seems clever, brilliantly argued, but shallow—and perhaps even a bit disingenuous. Friedmans writings from that period have the feel of a smart man who knows what he wants to believe looking hard for supporting arguments."
"Everything reminds Milton of the money supply. Well, everything reminds me of sex, but I keep it out of the paper."
"Milton Friedman may well be the worlds best-known economist. He has turned his unprepossessing stature and manner into a trademark persona; a feisty conservative David battling the Goliath of Big Government. But his influence is not merely a matter of skill at propaganda. It rests on the long campaign that he waged against the ideas of Keynesian economics, a campaign that eventually bore fruit in radical changes in both economic ideology and real-world economic policy."
"We have created a wealthy society with tens of millions of talented, resourceful individuals who play virtually no role whatsoever as citizens. Bringing these people in — with their networks of influence, their knowledge, and their resources — is the key to creating the capacity for shared intelligence that we need to solve our problems."
Al Gore"As in respect of the first wonder we are all on the same level, how comes it that the philosophic mind should, in all ages, be the privilege of a few? The most obvious reason is this: The wonder takes place before the period of reflection, and (with the great mass of mankind) long before the individual is capable of directing his attention freely and consciously to the feeling, or even to its exciting causes. Surprise (the form and dress which the wonder of ignorance usually puts on) is worn away, if not precluded, by custom and familiarity."
Samuel Taylor Coleridge"The dualistic philosophy reigned supreme in Europe, dominating the development of Western science. But with the advent of atomic physics, findings based on demonstrable experiment were seen to negate the dualistic theory, and the trend of thought since then has been back to the monistic conception of the ancient Taoists."
"Under the rule of a repressive whole, liberty can be made into a powerful instrument of domination. The range of choice open to the individual is not the decisive factor in determining the degree of human freedom, but what can be chosen and what is chosen by the individual."
Herbert Marcuse"All economic activity is carried out through time. Every individual economic process occupies a certain time, and all linkages between economic processes necessarily involve longer or shorter periods of time."
"I believe that the main lesson which our generation has learnt is that we must find a new limit for the activities of government, a limit which leaves ample scope for sensible experimentation but which secures the freedom of the individual as the mainspring of all social and political activity. The whole purpose of these lectures has been to suggest that we can find such a limit if we are willing to revive and develop the ancient ideal of the Rule of Law."