Economist Milton Freidman states that people are ___________ guided by rational self interest in free markets.

Question

Quizplus · Accepted Answer

Milton Freidman believed that individuals in free markets are primarily motivated by their own self-interest and seek to maximize their own utility. This means that they make choices that they believe will bring them the greatest benefit or satisfaction. This view is based on the assumption that individuals have a rational outlook and make decisions based on logical considerations. Therefore, utility maximization is a more accurate description of people's behavior in free markets rather than being simply self-interested consumers or selfish citizens. The term "do-gooders" implies that individuals are motivated by altruism, which is not consistent with Freidman's view.

Economist Milton Freidman States That People Are ___________ Guided by Rational