"Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another"
About this Quote
The subtext is classic Friedman: growth is the moral alibi. If the pie can expand through innovation, specialization, and exchange, then voluntary transactions aren’t predation but cooperation. That’s why the sentence leans on "tendency" and "assume" - he’s diagnosing a cognitive bias, not merely correcting a math error. Label it a fallacy and you delegitimize an entire style of argument as primitive, almost superstitious.
Context matters. Friedman built his public career in the postwar era when Keynesian management dominated, the Cold War framed capitalism as an ideological export, and the 1970s stagflation created an opening for market evangelists. The "fixed pie" critique doubles as a swipe at both left populism (wealth as theft) and certain right populisms (foreigners taking "our" jobs). It’s a deceptively simple sentence that turns economics into a story about human creativity - and turns opponents into people who don’t believe the story can have a second act.
Quote Details
| Topic | Reason & Logic |
|---|---|
| Source | Help us find the source |
| Cite |
Citation Formats
APA Style (7th ed.)
Friedman, Milton. (2026, January 15). Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another. FixQuotes. https://fixquotes.com/quotes/most-economic-fallacies-derive-from-the-tendency-909/
Chicago Style
Friedman, Milton. "Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another." FixQuotes. January 15, 2026. https://fixquotes.com/quotes/most-economic-fallacies-derive-from-the-tendency-909/.
MLA Style (9th ed.)
"Most economic fallacies derive from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another." FixQuotes, 15 Jan. 2026, https://fixquotes.com/quotes/most-economic-fallacies-derive-from-the-tendency-909/. Accessed 12 Feb. 2026.






