Exert influence by keeping options available – A Tribute to Milton Friedman

Milton Friedman, possibly the greatest economist of the 20th century, died on November 16, 2006, at the age of 94. With a list of remarkable accomplishments such as: winning the Nobel prize 30 years ago, writing several profound books, advisor to governments and presidents, his most important one is that of the popularization of the free-market principles – the separation between government and business.

He claimed that the Great Depression was not, as was once commonly presumed, a “market failure,” but a failure of government policy.

What I find most fascinating about this leader is his brilliant wisdom, provocative style, yet his basic common sense for the noble concepts he stood for:

“We do not influence the course of events by persuading people that we are right when we make what they regard as radical proposals. Rather, we exert influence by keeping options available when something has to be done at a time of crisis.”