Milton FriedmanMilton Friedman, (1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"

Milton Friedman Quote

“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 FriedmanMilton Friedman
~ Milton Friedman

Free to Choose (1990). Ch. 1 "The Power of the Market", page 13

Ratings and Comments

Mike, Norwalk

AHHH YES ! The law of nature and nature's god's fiscal law vs. the Progressives' theological propaganda.

jim k, Austin, Tx

This is a good reason to stop arresting people for prostitution. Both parties in this case have something that the other party wants and they make a business deal to provide it. Cops waste many man and woman hours setting up traps to catch prostitutes and "johns" , time better spent catching real criminals. There seems to be a notion in this country that if something is a "sin" then it should be against the law. Maybe some puritanical instincts still carry over from when "witches" were burned.

E Archer, NYC

jim, Most of what government does today is place themselves between you and everything else -- if you want anything or anyone you have to pay -- our congressmen have become trolls.


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