A Quote by Milton Friedman
It is true that a competitive market is not the whole of society. A great deal depends on the qualities of the population and the nation in how they organize the non-market aspects of society.
Quote Topics
Quote Author
Related Quotes
Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.
We have a market-driven society so obsessed with buying and selling and obsessed with power and pleasure and property, it doesn't leave a whole lot of time for non-market values and non-market activity so that love and trust and justice, concern for the poor, that's being pushed to the margins, and you can see it.
A market economy is a tool - a valuable and effective tool - for organizing productive activity. A market society is a way of life in which market values seep into every aspect of human endeavour. It's a place where social relations are made over in the image of the market.
China has seen a great deal of economic progress. It's certainly rather of a miracle. The growing role of the market in the economy will force China to open up its political system over time and to move toward a more democratic society. So taken as a whole, the one real failure in this whole business has been Russia.
One reason for the primacy of the market in shaping the modern world is that it forces a reorganization of society in order to make the market work properly . When a market comes into existence, as Marx fully appreciated, it becomes a potent force driving social change.
Too elevated qualities often unfit a man for society. We do not go to market with ingots, but with silver and small change.
What makes the existence and the evolution of society possible is precisely the fact that peaceful cooperation under the social division of labor in the long run best serves the selfish concerns of all individuals. The eminence of the market society is that its whole functioning and operation is the consummation of this principle.
Yes to market economy, no to market society.
We live in a competitive society. To pretend that it is not there is ridiculous. That is how the whole planet is set up. If you are not competitive, you do not succeed, you do not survive.
I know of no example in time or place of a society that has been marked by a large measure of political freedom, and that has not also used something comparable to a free market to organize the bulk of economic activity.
The key problem is to find out why that sector of society of the past, which I would not hesitate to call capitalist, should have lived as if in a bell jar, cut off from the rest; why was it not able to expand and conquer the whole of society?... [Why was it that] a significant rate of capital formation was possible only in certain sectors and not in the whole market economy of the time?
In the mid to late nineteenth century, the gun manufacturers recognized that they had a limited market. Remember that this is a capitalist society, you've got to expand your market. They were selling guns to the military. That's a pretty limited market. What about all the rest of the people? So what started was all kinds of fantastic stories about Wyatt Earp and the gunmen and the Wild West, how exciting it was to have these guys with guns defending themselves against all sorts of things.
Market Anarchism is the doctrine that the legislative, adjudicative, and protective functions unjustly and inefficiently monopolised by the coercive State should be entirely turned over to the voluntary, consensual forces of market society.
I think liberals have to come to terms with the market and embrace market mechanisms as the only way to run a society that produces widespread material well-being and respects individual rights and liberties.
The lion's share of the bear market is over, ... It's a two-part issue. Yes, the marketplace could be nasty. But there's a great deal of nastiness that's already happened in the bond market.
The blessing that the market does not ask about birth is paid for in the exchange society by the fact that the possibilities conferred by birth are molded to fit the production of goods that can be bought on the market.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Craig Roberts Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist