10 Milton Friedman Quotes That Will Make Liberal Heads Explode

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

Also lost in modern liberal thought is that not every transaction has to involve someone being “taken advantage of.” While there are certain actors in the marketplace who certainly have more bargaining power, they seek to benefit by offering labor and goods to those beneath them on the socioeconomic ladder. It is up to each party in a negotiation to determine if they would be better off following a proposed transaction. Only those involved in such a free exchange have the ability to truly understand the stakes and determine the most desirable result.

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