Quotation of the Day…
by Don Boudreaux
on July 9, 2024
… is from pages 15 of Milton and Rose Friedman’s essential 1962 book, Capitalism and Freedom:
Since the household always has the alternative of producing directly for itself, it need not enter into any exchange unless it benefits from it. Hence, no exchange will take place unless both parties do benefit from it. Co-operation is thereby achieved without coercion.
