Posted on 11/24/2013 12:51:51 PM PST by grundle
http://en.wikiquote.org/wiki/Milton_Friedman
There are four ways in which you can spend money.
1) You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money.
2) Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost.
3) Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch!
4) Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government. And that’s close to 40% of our national income.
- Milton Friedman
That’s a keeper. Excellent post.
Not only was Milton Friedman brilliant, but he had a gift for clearly explaining economics. I sometimes think that economists try to make economics complicated so they can further a hidden agenda.
No, for some reason liberals cannot communicate objectively about economics. Subjectively they get profit and loss. I once shared this quote with a relatively successful liberal friend, who simply accused me of using a straw man argument to win. Go figure.
ping
OR... You can put it in savings accounts and let the government inflate it away for you and get absolutely nothing in return. What a deal.
bkmk
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