His wisdom is captured in some of the quotations pasted below:
"Nothing is so permanent as a temporary government program."
"Inflation is the one form of taxation that can be imposed without legislation."
"Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government."
"Nobody spends somebody else’s money as carefully as he spends his own. Nobody uses somebody else’s resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property."
"Government power must be dispersed. If government is to exercise power, better in the county than in the state, better in the state than in Washington. If I do not like what my local community does, be it in sewage disposal, or zoning, or schools, I can move to another local community, and though few may take this step, the mere possibility acts as a check. If I do not like what Washington imposes, I have few alternatives in this world of jealous nations."
"If you put the federal government in charge of the Sahara Desert, in five years there’d be a shortage of sand."
“Most economic fallacies derive – from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.”
18/11 update: Milton Friedman’s writings for The Wall Street Journal.