4 Milton Friedman Quotes on Trade

Milton Friedman quotes on trade

36. 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 only gain at the expense of another

43. What would the people who sold us goods do with the money? They'd get dollars. What would they do with the dollars? Eat them?!

46. Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest. The benefits of a tariff are visible. [Union workers] can see they are 'protected'. The harm which a tariff does is invisible. It's spread widely. There are people that don't have jobs because of tariffs but they don't know it.

54. There's no such thing as a free lunch.