Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another. — Milton Friedman Copy Share Image
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… — Milton Friedman Copy Share Image
