Milton Friedman Quotes About Parties

Quotes about: Parties

• The key insight of Adam Smith's Wealth of Nations is misleadingly simple: if an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another.

  Milton Friedman

  Party, Believe, Simple

  Milton Friedman, Rose Friedman (1990). “Free to Choose: A Personal Statement”, p.31, Houghton Mifflin Harcourt
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  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.

  Milton Friedman

  Party, Pie, Liberty

  Milton Friedman, Rose Friedman (1990). “Free to Choose: A Personal Statement”, p.31, Houghton Mifflin Harcourt

• The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

  Milton Friedman

  Freedom, Business, Party

• Adam Smith's key insight was that both parties to an exchange can benefit and that, so long as cooperation is strictly voluntary, no exchange can take place unless both parties do benefit.

  Milton Friedman

  Party, Keys, Long

  Milton Friedman, Rose Friedman (1990). “Free to Choose: A Personal Statement”, p.19, Houghton Mifflin Harcourt

• "Free markets" is a very general term. There are all sorts of problems that will emerge. Free markets work best when the transaction between two individuals affects only those individuals. Most often, a transaction between you and me affects a third party. That is the source of all problems for government. That is the source of all pollution problems, of the inequality problem. This reality ensures that the end of history will never come.

  Milton Friedman

  Party, Reality, Government

  Source: www.huffingtonpost.com

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