Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.
Interpretation
The quote emphasizes the importance of individual protection from government interference rather than relying solely on governmental oversight for consumer safety.
Milton Friedman highlights a critical perspective on the relationship between consumers and government. While many believe that consumers need protection from corporations through government regulation, Friedman argues that the greater concern is the potential for government itself to harm consumers through overreach and excessive regulation. This viewpoint suggests that consumer freedom and autonomy should be prioritized over governmental control, encouraging a discussion about the balance of power between individuals and the state.
In practice
In a discussion about government regulations during a town hall meeting.
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.
Universities 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.
... our purpose in founding our state was not to promote the happiness of a single class, but, so far as possible, of the whole community. Our idea was that we were most likely to justice in such a community, and so be able to decide the question we are trying to answer. We are therefore at the moment trying to construct what we think is a happy community by securing the happiness not of a select minority, but of a whole.
Not only the words (vocabula) which the Holy Spirit and Scripture use are divine, but also the phrasing
. . . by natural selection our mind has adapted itself to the conditions of the external world. It has adopted the geometry most advantageous to the species or, in other words, the most convenient. Geometry is not true, it is advantageous.
Principles are guidelines for human conduct that are proven to have enduring, permanent value.
She liked to imagine that when she passed, the world looked after her, but she also knew how anonymous she was. Except when she was at work, no one knew where she was at any time of day and no one waited for her. It was immaculate anonymity.
As we have seen, the wireless and the airplane have made the world so small and nations so dependent on each other that the only alternative to war is the United States of the World.
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