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Milton Friedman on Free markets and the price system

With some notable exceptions, businessmen favor free enterprise in general but are opposed to it when it comes to themselves.
The Suicidal Impulse of the Business Community
Lecture, 1983
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  1. Well, the way in which many economists have implicitly reconciled it is by being in favor of the free market in general and opposed to the free market in particular. This area is a special case. It needs regulation. This area is a special case. You know, the same thing happens to businessmen. Every businessman is in favor of private enterprise. Except for himself.
    The Open Mind
    Interview, 1977, The Open Mind, hosted by Richard Heffner, Episode “A Nobel Laureate on the American Economy” (May 3, 1977)
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  2. That illustrates a general rule: If a private enterprise is a failure, it closes down—unless it can get a government subsidy to keep it going; if a government enterprise fails, it is expanded. I challenge you to find exceptions.
    Why Government Is the Problem
    Journal article, 1993, Hoover Institution Press, Essays in Public Policy no. 39, p. 9
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  3. How much attention is paid to agreement between Galbraith and myself in opposing a draft and favoring an all-volunteer armed force, or in opposing tariffs and favoring free trade, or on a host of other issues? What is newsworthy is that Galbraith endorses wage and price controls, while I oppose them.
    Interview with Milton Friedman
    Interview, 1973, Playboy
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