Milton Friedman Quote

Prices perform three functions in organizing economic activity: first, they transmit information; second, they provide an incentive to adopt those methods of production that are least costly and thereby use available resources for the most highly valued pur poses; third, they determine who gets how much of the product—the distribution of income. These three functions are closely in terrelated.


Ch. 1 "The Power of the Market" - Free to Choose (1980)


Prices perform three functions in organizing economic activity: first, they transmit information; second, they provide an incentive to adopt those...

Prices perform three functions in organizing economic activity: first, they transmit information; second, they provide an incentive to adopt those...

Prices perform three functions in organizing economic activity: first, they transmit information; second, they provide an incentive to adopt those...

Prices perform three functions in organizing economic activity: first, they transmit information; second, they provide an incentive to adopt those...