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, Ph.D.

Who Protects The Consumer?

Free To Choose Part 7

Various government agencies have been created on the claim that they will protect the consumer. These agencies restrict freedom, stifle beneficial innovation, and become agents for the industries or groups they are intended to regulate. Milton Friedman explains how the apparent chaos of the market place, the competition of many suppliers for business, is the best protection of consumer interests.

Author: Milton Friedman
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