Milton Friedman on Concentrated power and tyranny
The power to do good is also the power to do harm; those who control the power today may not tomorrow; and, more important, what one man regards as good, another may regard as harm.
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Those of us who believe in freedom must believe also in the freedom of individuals to make their own mistakes. If a man knowingly prefers to live for today, to use his resources for current enjoyment, deliberately choosing a penurious old age, by what right do we prevent him from doing so? We may argue with him, seek to persuade him that he is wrong, but are we entitled to use coercion to prevent him from doing what he chooses to do? Is there not always the possibility that he is right and that we are wrong? Humility is the distinguishing virtue of the believer in freedom; arrogance, of the paternalist.
Capitalism and FreedomBook, 1962, Ch. 11, Social Welfare Measures, p. 187Not yet checkedThe 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.
Capitalism and FreedomBook, 1962, Ch. 1 The Relation Between Economic Freedom and Political Freedom, p. 12Not yet checkedWhat kind of society isn’t structured on greed? … So the problem of social organization is how to set up an arrangement under which greed will do the least harm. It seems to me that the great virtue of capitalism is that it’s that kind of system. Because under capitalism, the power of any one individual over his fellow man is relatively small.
Interview with Milton FriedmanInterview, 1973, PlayboyNot yet checked
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