Milton Friedman Quote - Liberty Quotes Blog

"[U]nemployment is ... a side effect of the cure for inflation."

by:	Milton Friedman (1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"
Source:	"Inflation and Jobs" (Nov. 12, 1979)
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Categories:	Economics, Inflation, Labor
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Reader comments about this quote:

(-; I like it ;-) a norm that the occupying statist theocracy infesting this land and the fed working hand in glove have learned to overcome. Unemployment and inflation all at the same time. -- Mike, Norwalk 2
-- jim k, austin tx
-- Ron w13, Or
Uncle Milton will, more and more be seen as a flash in the pan who was wrong on just about everything. -- anonymous 2
Economics 101, if you relentlessly continue to pay for something, it will grow. The welfare state's continued paying for unemployment has the effect of growth. The more you pay for inflation, the more you get. -- Mike, Norwalk 2
It's not a bug, it's a feature. To conquer a nation, the masses must be impoverished in every way. Americans are the most protected from such destruction than any other nation, which is why only through their ignorance have they managed to dig themselves into a hole so deep, starvation and civil war are likely the only way out. -- E Archer, NYC