"History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition"
- Milton Friedman
About this Quote
Milton Friedman is specifying that throughout history, there has actually been evidence that in order to have political liberty, a capitalist financial system is needed. Nevertheless, he also acknowledges that a capitalist financial system alone is insufficient to guarantee political flexibility. Other factors may enter play, such as the political system in location or the level of government intervention in the economy.
This quote is written / told by Milton Friedman between July 31, 1912 and November 16, 2006. He/she was a famous Economist from USA.
The author also have 34 other quotes.
"We are all different. Yet we are all God's children. We are all united behind this country and the common cause of freedom, justice, fairness, and equality. That is what unites us"
"The end of law is not to abolish or restrain, but to preserve and enlarge freedom. For in all the states of created beings capable of law, where there is no law, there is no freedom"
"A lawyer without history or literature is a mechanic, a mere working mason; if he possesses some knowledge of these, he may venture to call himself an architect"
"We have our own history, our own language, our own culture. But our destiny is also tied up with the destinies of other people - history has made us all South Africans"
