Episode 8 - Milton Friedman Speaks - Free Trade: Producer vs. Consumer

Episode 8 November 14, 2018 01:17:51
Episode 8 - Milton Friedman Speaks - Free Trade: Producer vs. Consumer
Free To Choose Media Podcast
Episode 8 - Milton Friedman Speaks - Free Trade: Producer vs. Consumer

Nov 14 2018 | 01:17:51

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Show Notes

If free trade is so good, why is protectionism so popular? Part of the answer lies in a simple political principle — interests that are concentrated (those of the producer) are more politically effective than interests that are diffused (those of the consumer). Protection does not create jobs or move goods; rather, it forces us to expend greater effort to get the goods we produce, since they cost more to produce at home than abroad. Hear about the damage protectionism has done and why free markets are so misunderstood.

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