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Quotation of the Day…

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… is from pages 73-74 of the 40th Anniversary Edition of Milton and Rose Friedman’s classic 1962 volume, Capitalism and Freedom: I believe that it would be far better for us to move to free trade unilaterally, as Britain did in the nineteenth century when it repealed the corn laws…. There are few measures that we could take that would do more to promote the cause of freedom at home and abroad.  Instead of making grants to foreign governments in the name of economic aid – and thereby promoting socialism – while at the same time imposing restrictions on the products they succeed in producing – and thereby hindering free enterprise – we could assume a consistent and principled stance.  We could say to the rest of the world: We believe in freedom and intend to practice it.  No one can

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… is from pages 73-74 of the 40th Anniversary Edition of Milton and Rose Friedman’s classic 1962 volume, Capitalism and Freedom:

Quotation of the Day…I believe that it would be far better for us to move to free trade unilaterally, as Britain did in the nineteenth century when it repealed the corn laws….

There are few measures that we could take that would do more to promote the cause of freedom at home and abroad.  Instead of making grants to foreign governments in the name of economic aid – and thereby promoting socialism – while at the same time imposing restrictions on the products they succeed in producing – and thereby hindering free enterprise – we could assume a consistent and principled stance.  We could say to the rest of the world: We believe in freedom and intend to practice it.  No one can force you to be free.  That is your business.  But we can offer you full co-operation on equal terms to all.  Our market is open to you.  Sell here what you can and wish to.  Use the proceeds to buy what you wish.  In this way co-operation among individuals can be world wide yet free.

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Don Boudreaux

He is a professor of economics at George Mason University in Fairfax, Virginia. Previously, he was president of the Foundation for Economic Education.

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