Episode 8 – Milton Friedman Speaks – Free Trade: Producer vs. Consumer (Podcast)
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Foreign Investment in the Twenty-First Century
The british were producing goods and sending them over to us in return for pieces of paper. And the british regarded that as a good investment, and they regarded it therefore as worth their while to send us goods in order to get those Pieces of Paper. Nothing wrong with that. On the contrary, we benefited by having foreign investment here that enabled us to develop more rapidly. We were sending goods and services abroad as an expression of our belief that that was a contribution to a peaceful world.
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