Quote unquote: Milton Friedman on why imports are good
By Alex Singleton on May 4, 2007 in Trade
“Another fallacy seldom contradicted is that exports are good, imports bad. The truth is very different. We cannot eat, wear, or enjoy the goods we send abroad. We eat bananas from Central America, wear Italian shoes, drive German automobiles, and enjoy programs we see on our Japanese TV sets. Our gain from foreign trade is what we import. Exports are the price we pay to get imports.” - Milton Friedman, Free to Choose
