Capitalism and Freedom, Milton Friedman
Capitalism and Freedom, Milton Friedman
Feb 18, 2024
sutori.com
While politicians debate trade wars and "reciprocal" tariffs, Milton Friedman reminds us of a fundamental truth: two wrongs don't make a right in economics any more than they do in life. The temptation to "fight fire with fire" in trade policy might feel satisfying, but as Friedman explains, it's like punching yourself because someone else did it first. What do you think? Does retaliation ever make economic sense, or should we focus on what's best for our own prosperity? | Free To Choose Network
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While politicians debate trade wars and "reciprocal" tariffs, Milton Frie…
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While other nations play trade chess with tariffs and negotiations, Milton Friedman had a radically different idea: true leadership means doing what's right regardless of what others do. Sometimes the most powerful move is the one nobody expects. What do you think—should great nations lead by principle or by negotiation? | Free To Choose Network
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While other nations play trade chess with tariffs and negotiations, Milto…
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Tariffs aren't new—neither is the misguided notion of "reciprocal" ones. Milton Friedman cut through this fallacy with clarity: When other nations restrict trade, they harm their own citizens. When we respond with our own tariffs, we merely punish our citizens, too. After all, you don't fix holes in the bottom of the boat by shooting more holes in it. Free trade benefits America regardless of what other countries do. Refusing to buy something at the best price available is simply bad business. |
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