If the government is to try and ban private consumption of alcohol and tobacco, it must surely ban such activities as hang-gliding, skiing, rock-climbing and so on. Where should it stop? Rugby? American Football? Ice Hockey? _x000D_ Insofar as the government has information not generally available about the merits or demerits of the items we ingest or the activities we engage in, let it give us the information. But let it leave us free to choose what chances we want to take with our own lives.
Interpretation
The quote advocates for personal freedom in making choices regarding risky activities and consumption.
Milton Friedman argues that if the government seeks to regulate or ban certain personal choices like alcohol and tobacco consumption, it should logically extend that regulation to other risky activities. He emphasizes the importance of individual freedom, suggesting that people should be informed but ultimately free to choose which risks to take in their lives, rather than having those choices dictated by the government.
In practice
During a debate on personal freedoms, one might quote Friedman to support the idea that individuals should have the right to make their own choices regarding risky activities.
The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system. And losses were at least as important in weeding out failures, as profits in fostering successes. Let government succor failures, and we shall be headed for stagnation and decline.
Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.
There is no place for government to prohibit consumers from buying products the effect of which will be to harm themselves.
There is one and only one social responsibility of business - to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.
The great danger to the consumer is the monopoly -whether private or governmental. His most effective protection is free competition at home and free trade throughout the world. The consumer is protected from being exploited by one seller by the existence of another seller from whom he can buy and who is eager to sell to him. Alternative sources of supply protect the consumer far more effectively than all the Ralph Naders of the world.
The strongest argument for free enterprise is that it prevents anybody from having too much power. Whether that person is a government official, a trade union official, or a business executive. If forces them to put up or shut up. They either have to deliver the goods, produce something that people are willing to pay for, are willing to buy, or else they have to go into a different business.
We have been so successful in the past century at the art of living longer and staying alive that we have forgotten how to die. Too often we learn the hard way. As soon as the baby boomers pass pensionable age, their lesson will be harsher still.
To us, the ashes of our ancestors are sacred and their resting place is hallowed ground.
It is reckless to make broad generalizations about any group of people.
Those who know the truth are not equal to those who love it Confucius All truth is safe and nothing else is safe, but he who keeps back truth, or withholds it from men, from motives of expediency, is either a coward or a criminal.
Thoughts are universally and not individually rooted; a truth cannot be created, but only perceived. The erroneous thoughts of man result from imperfections in his discernment. The goal of Yoga Science is to calm the mind, that without distortion it may mirror the Divine vision in the Universe.
Money is human happiness in the abstract.
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