November 16, 2006
HP-169

Statement of Treasury Secretary Paulson on Milton Friedman

Washington, D.C. –Treasury Secretary Henry M. Paulson released the following statement today on Milton Friedman:

"I'm saddened today to hear of the loss of Milton Friedman. Through a long life and distinguished career, Milton Friedman held fast to the principle that men and women should be free. He believed that freedom would unleash prosperity, and he was right. His pioneering ideas about the nexus between economic and political freedom paved the way for prosperity and financial vitality in economies around the world.

"Milton Friedman will always be counted among the greatest of economists. He believed steadfastly in free markets, even when free markets were not very popular. He rejected the idea that government could manipulate the economy to achieve precise results, instead believing that a restrained government hand would maximize economic growth. And recognizing the applicability of free-market principles to social policy, Milton Friedman was an early voice in support of welfare reform and school choice.

"Milton Friedman will be remembered as a great scholar, teacher, and advisor. He will be missed."

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