Quotation of the Day…

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… is from page 11 of Milton Friedman’s November 1991 Wriston Lecture:

The problem is not that government is spending too little but that it is spending too much. The problem in schooling is that government is spending too much on the wrong things. The problem in health care is that government is spending too much on the wrong things. The end result has been that government has become a self-generating monstrosity. Abraham Lincoln talked about a government of the people, by the people, for the people. What we now have is a government of the people, by the bureaucrats, including the legislators who have become bureaucrats, for the bureaucrats.

DBx: Milton Friedman was born – into a working-class immigrant family – in Brooklyn on this date (July 31st) in 1912. He became one of the most-accomplished economists of the 20th century, as well as one of history’s greatest champions of liberty and free markets.