The problem is that, in a world of floating exchange rates, as Italy was before the euro, if … - Milton Friedman

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The way towards 'wisdom' or towards 'freedom' is the way towards your inner being. This is the simplest definition of metaphysics.

Milton Friedman

The problem is that, in a world of floating exchange rates, as Italy was before the euro, if one country is subjected to a shock which requires it to cut wages, it cannot do so with a modern kind of control and regulation system. It is much easier to do it by letting the exchange rate change. Only one price has to change, instead of many.

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You must distinguish sharply between being pro free enterprise and being pro business.

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Look, for example, at the obvious, immediate, practical example of illegal Mexican immigration. Now, that Mexican immigration, over the border, is a good thing. It's a good thing for the illegal immigrants. It's a good thing for the United States. It's a good thing for the citizens of the country. But, it's only good so long as its illegal.

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Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us.

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