Name: Capitalism and Freedom
Author: Milton Friedman

“Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power. Government is necessary to preserve our freedom, it is an instrument through which we can exercise our freedom; yet by concentrating power in political hands, it is also a threat to freedom. Even though the men who wield this power initially be of good will and even though they be not corrupted by the power they exercise, the power will both attract and form men of a different stamp.”

Milton Friedman book Capitalism and Freedom

Introduction
Capitalism and Freedom (1962)
Context: The free man will ask neither what his country can do for him nor what he can do for his country. He will ask rather "What can I and my compatriots do through government" to help us discharge our individual responsibilities, to achieve our several goals and purposes, and above all, to protect our freedom? And he will accompany this question with another: How can we keep the government we create from becoming a Frankenstein that will destroy the very freedom we establish it to protect? Freedom is a rare and delicate plant. Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power. Government is necessary to preserve our freedom, it is an instrument through which we can exercise our freedom; yet by concentrating power in political hands, it is also a threat to freedom. Even though the men who wield this power initially be of good will and even though they be not corrupted by the power they exercise, the power will both attract and form men of a different stamp.

“As Adam Smith once said, "There is much ruin in a nation". Our basic structure of values and the interwoven network of free institutions will withstand much. I believe that we shall be able to preserve and extend freedom despite the size of the military programs and despite the economic powers already concentrated in Washington. But we shall be able to do so only if we awake to the threat that we face, only if we persuade our fellowmen that free institutions offer a surer, if perhaps at times a slower, route to the ends they seek than the coercive power of the state. The glimmerings of change that are already apparent in the intellectual climate are a hopeful augury.”

Milton Friedman book Capitalism and Freedom

Source: Capitalism and Freedom (1962), Ch. 13 Conclusion

“With respect to teachers' salaries …. Poor teachers are grossly overpaid and good teachers grossly underpaid. Salary schedules tend to be uniform and determined far more by seniority.”

Milton Friedman book Capitalism and Freedom

Source: Capitalism and Freedom (1962), Ch. 6 The Role of Government in Education, p. 95

“The heart of the liberal philosophy is a belief in the dignity of the individual, in his freedom to make the most of his capacities and opportunities according to his own lights, subject only to the proviso that he not interfere with the freedom of other individuals to do the same.”

Milton Friedman book Capitalism and Freedom

Source: Capitalism and Freedom (1962), Ch. 12 The Alleviation of Poverty

“The liberal conceives of men as imperfect beings. He regards the problem of social organization to be as much a negative problem of preventing 'bad' people from doing harm as of enabling 'good' people to do good; and, of course, 'bad' and 'good' people may be the same people, depending on who is judging them.”

Milton Friedman book Capitalism and Freedom

Source: Capitalism and Freedom (1962), Ch. 1 The Relation Between Economic Freedom and Political Freedom, p. 12

“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 : the typical state of mankind is tyranny, servitude, and misery.”

Milton Friedman book Capitalism and Freedom

Source: Capitalism and Freedom (1962), Ch. 1 The Relation Between Economic Freedom and Political Freedom, 2002 edition, page 10
Context: 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 : 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 the 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.
History suggests only that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.

“To the free man, the country is the collection of individuals who compose it, not something over and above them.”

Milton Friedman book Capitalism and Freedom

Introduction
Capitalism and Freedom (1962)
Context: To the free man, the country is the collection of individuals who compose it, not something over and above them. He is proud of a common heritage and loyal to common traditions. But he regards government as a means, an instrumentality, neither a grantor of favors and gifts, nor a master or god to be blindly worshipped and served.

“The free man will ask neither what his country can do for him nor what he can do for his country. He will ask rather "What can I and my compatriots do through government" to help us discharge our individual responsibilities, to achieve our several goals and purposes, and above all, to protect our freedom?”

Milton Friedman book Capitalism and Freedom

Introduction
Capitalism and Freedom (1962)
Context: The free man will ask neither what his country can do for him nor what he can do for his country. He will ask rather "What can I and my compatriots do through government" to help us discharge our individual responsibilities, to achieve our several goals and purposes, and above all, to protect our freedom? And he will accompany this question with another: How can we keep the government we create from becoming a Frankenstein that will destroy the very freedom we establish it to protect? Freedom is a rare and delicate plant. Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power. Government is necessary to preserve our freedom, it is an instrument through which we can exercise our freedom; yet by concentrating power in political hands, it is also a threat to freedom. Even though the men who wield this power initially be of good will and even though they be not corrupted by the power they exercise, the power will both attract and form men of a different stamp.

“The existence of a free market does not of course eliminate the need for government.”

Milton Friedman book Capitalism and Freedom

Source: Capitalism and Freedom (1962), Ch. 1 The Relation Between Economic Freedom and Political Freedom, 2002 edition, page 15
Context: The existence of a free market does not of course eliminate the need for government. On the contrary, government is essential both as a forum for determining the "rule of the game" and as an umpire to interpret and enforce the rules decided on.

“History suggests only that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.”

Milton Friedman book Capitalism and Freedom

Source: Capitalism and Freedom (1962), Ch. 1 The Relation Between Economic Freedom and Political Freedom, 2002 edition, page 10
Context: 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 : 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 the 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.
History suggests only that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.

“Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around.”

Milton Friedman book Capitalism and Freedom

Preface (1982 edition), p. ix
Capitalism and Freedom (1962)
Context: There is enormous inertia—a tyranny of the status quo—in private and especially governmental arrangements. Only a crisis—actual or perceived—produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable.