Universities exist to transmit knowledge and understanding of ideas and values to students not to provide entertainment for spectators or employment for athletes.
Interpretation
Universities are focused on educating students rather than entertaining others or providing sports careers.
Milton Friedman emphasizes the primary role of universities as institutions dedicated to the education of students, aiming to equip them with knowledge and understanding of fundamental ideas and values. He critiques the tendency to turn educational institutions into venues for entertainment, suggesting that the integrity and purpose of higher education should remain centered on intellectual growth rather than on athletic programs or spectator activities.
In practice
Use this quote in a discussion about the purpose of higher education during a university panel.
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.
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.
When a private enterprise fails, it is closed down; when a government enterprise fails, it is expanded. Isn't that exactly what's been happening with drugs?
A child is an eager observer and is particularly attracted by the actions of the adults and wants to imitate them. In this regard an adult can have a kind of mission. He can be an inspiration for the child's actions, a kind of open book wherein a child can learn how to direct his own movements. But an adult, if he is to afford proper guidance, must always be calm and act slowly so that the child who is watching him can clearly see his actions in all their particulars.
Education, the great mumbo jumbo and fraud of the age purports to equip us to live and is prescribed as a universal remedy for everything from juvenile delinquency to premature senility.
"What greater gift can we offer the republic than to teach and instruct our youth?"
For me, writing is a concentrated form of thinking.
One book calls to another unexpectedly, creating alliances across different cultures and centuries.
I was a voracious reader and the library fed my curiosity, imagination and my soul. I read by the shelf - biographies, fantasy - all and everything fed my dreams. Then as an adult whenever I would go on location the first thing we would do as a family is sign up at the closest library. Not only would we find books, but what was happening in that town, because the library is the head of the community.
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