The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline.
See, if you look at the drug war from a purely economic point of view, the role of the government is to protect the drug cartel. That's literally true.
Interpretation
What this quote means
Friedman suggests that government involvement in the drug war often inadvertently supports drug cartels instead of combating them.
Milton Friedman highlights a paradox in the government's role in the drug war, arguing that when viewed strictly from an economic perspective, government actions may unintentionally bolster drug cartels. This observation invites a deeper examination of how policies designed to eradicate illegal drugs can backfire, creating a cycle that protects and sustains the very organizations they aim to dismantle, raising questions about effectiveness and the true motivations behind such policies.
Themes
In practice
Example use cases
In a debate about drug policy legislation, this quote can serve as a critical perspective on government actions.
More from Milton Friedman
All quotes βUniversities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.
There is no place for government to prohibit consumers from buying products the effect of which will be to harm themselves.
There is one and only one social responsibility of business - to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.
The great danger to the consumer is the monopoly -whether private or governmental. His most effective protection is free competition at home and free trade throughout the world. The consumer is protected from being exploited by one seller by the existence of another seller from whom he can buy and who is eager to sell to him. Alternative sources of supply protect the consumer far more effectively than all the Ralph Naders of the world.
The strongest argument for free enterprise is that it prevents anybody from having too much power. Whether that person is a government official, a trade union official, or a business executive. If forces them to put up or shut up. They either have to deliver the goods, produce something that people are willing to pay for, are willing to buy, or else they have to go into a different business.
Similar quotes
Our live experiences, fixed in aphorisms, stiffen into cold epigrams. Our heart's blood, as we write it, turns to mere dull ink.
Movement is a fantastic privilege but it ultimately only has meaning if you have a home to go back to.
So much of adolescence is an ill-defined dying, An intolerable waiting, A longing for another place and time, Another condition.
The poet Melvin B. Tolson once said "A civilization is judged only in its decline." That made sense to me. I would imagine the same is true for poets and tennis players.
The power of population is indefinitely greater than the power in the earth to produce subsistence for man.
Then it's goodbye, Sangsara for me Besides, girls aren't as good as they look And Samadhi is better than you think When it starts in hitting your head In with Buzz of glittergold Heaven's Angels, wailing, saying We've been waiting for you since morning, Jack Why were you so long dallying in the sooty room? This transcendental Brilliance Is the better part (of Nothingness I sing) Okay. Quit. Mad. Stop.