Friday, January 18, 2019

the eye of the beholder..............

When “fairness” [or “fair” trade] replaces “freedom” [or “free” trade] all our liberties are in danger.
There is no objective standard of “fairness” [or “fair” trade]. “Fairness” [or “fair” trade] is strictly in the eye of the beholder. To a producer or seller, a “fair” price is a high price. To the buyer or consumer, a “fair” price is a low price. How is the conflict to be adjudicated? By competition in a free market? Or by government bureaucrats in a “fair” market?

-Milton Friedman, as channeled by Mark Perry

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