Voluntary exchange benefits both parties from "summary" of Free to Choose by Milton Friedman
The key idea here is that when two individuals engage in a voluntary exchange, both parties benefit. How is this possible? Let's break it down. Imagine you have a product that you no longer need, and someone else has a product that you want. You both agree to trade, and the exchange takes place. In this scenario, both parties have made a decision based on their own self-interest. You are giving up something you value less for something you value more, and the other person is doing the same. Now, why would you agree to the exchange if you didn't believe it would benefit you? The answer is simple: voluntary exchanges only occur when both parties believe they are better off as a result. If you didn't think the trade was in your best interest, you wouldn't agree to it. This concept is at the heart of the free market system. People are free to engage in exchanges based on their own prefe...
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