“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.”
Quote by Milton Friedman
Work
Free to Choose: A Personal Statement
This book is a compilation of essays and lectures that discuss the principles of free markets and individual liberty. The author explores the impact of government intervention on economic systems and society, advocating for a minimalist state role in the economy. more
Author
Milton Friedman
Milton Friedman was a renowned economist known for his contributions to the field of free-market economics. His research in monetary economics, consumer behavior, and tax policy has had a profound impact. more
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