Below are some quotations I selected for Milton Friedman to go on an
economist's calendar.  If any of you have any "better" selections
please let me know.


A few ground rules for the discussion:

	1. Space is limited, so please accompany any suggested quotation
with a suggestion of which quotation to cut.

	2. The new quotation can be no longer than the cut quotation.
	
	3. Please give the source for any quotation you give--I will have to
get permissions for each.


Milton Friedman

In monetary matters, appearances are deceiving; the important 
relationships are often precisely the reverse of those that strike 
the eye." (676, Monetary History of the US)

Because we live in a largely free society, we tend to forget how 
limited is the span of time and the part of the globe for which there 
has ever been anything like political freedom: the typical state of 
mankind is tyranny, servitude, and misery. The nineteenth century and 
early twentieth century in the Western world stand out as striking 
exceptions to general trend of historical development. Political 
freedom in this instance clearly came along with the free market and 
the development of capitalist institutions. So also did political 
freedom in the golden age of Greece and in the early days of the 
Roman era." (10, Capitalism and Freedom).

With respect to teachers' salaries, the major problem is not that 
they are too low on the average-they may well be too high on the 
average-but that they are to uniform and rigid. Poor teachers are 
grossly overpaid and good teachers grossly underpaid. Salary 
schedules tend to be uniform and determined far more by seniority, 
degrees received, and teaching certificates acquired than by merit." 
(95, Capitalism and Freedom).

Few trends could so thoroughly undermine the very foundations of our 
free society as the acceptance by corporate officials of a social 
responsibility other than to make as much money for their 
stockholders as possible. This is a fundamentally subversive 
doctrine.  (133, Capitalism and Freedom).

No major institution in the U.S. has so poor a record of performance 
over so long a period as the Federal Reserve, yet so high a public 
recognition." (Aug, 19, 2003, "The Fed's Thermostat; WSJ).


Dave Colander