Episode 8 – Milton Friedman Speaks – Free Trade: Producer vs. Consumer (Podcast)
Free To Choose Media Podcast
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What's Wrong With All These Fine Arguments?
If we import less stell foreigners earn fewer dollars, they have fewer dollars to spend in this country. There are people around the country who will not have jobs, have productive jobs, because exports do not develop. The harmful effects of steel imports are to reduce jobs and agriculture. But that's invisible. People who might have been producing goods to sell abroad don't know they might have had that job. And as a ult, on both the side of consumption and the side of producers, you have the concentrated special interest versus the diffused general interest.
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