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Milton Friedman on Capitalism and socialism

What 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 Friedman
Interview, 1973, Playboy
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  1. 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.
    Capitalism and Freedom
    Book, 1962, Ch. 1 The Relation Between Economic Freedom and Political Freedom, p. 12
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  2. The basic problem of social organization is how to co-ordinate the economic activities of large numbers of people.
    Capitalism and Freedom
    Book, 1962, Ch. 1 The Relation Between Economic Freedom and Political Freedom, p. 12
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  3. We want the kind of world in which greedy people can do the least harm to their fellow men. That’s the kind of world in which power is widely dispersed and each of us has as many alternatives as possible.
    Interview with Milton Friedman
    Interview, 1973, Playboy
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