To: Girlene
I learned at the proverbial feet of my Sensei and Master that abstract economic policy is meaningless unless you can communicate it to non-geeks.
"There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then you really watch out what youre doing, and you try to get the most for your money. Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then Im not so careful about the content of the present, but Im very careful about the cost. Then, I can spend somebody elses money on myself. And if I spend somebody elses money on myself, then Im sure going to have a good lunch! Finally, I can spend somebody elses money on somebody else. And if I spend somebody elses money on somebody else, Im not concerned about how much it is, and Im not concerned about what I get. And thats government. And thats close to 40% of our national income."
---Milton Friedman
251 posted on
02/06/2009 7:37:25 PM PST by
Eric Blair 2084
(Alcohol, Tobacco and Firearms shouldn't be a federal agency...it should be a convenience store.)
To: Eric Blair 2084
Finally, I can spend somebody elses money on somebody else. And if I spend somebody elses money on somebody else, Im not concerned about how much it is, and Im not concerned about what I get. And thats government. And thats close to 40% of our national income."
......or about 100% of our new trillion dollar (give or take a few hundred billion) spending bill. Good lesson, Eric.
272 posted on
02/06/2009 7:47:31 PM PST by
Girlene
(Hey, Repub's: This is an entrepreneurial insurgency)
To: Eric Blair 2084
Great great quote, thanks!
284 posted on
02/06/2009 7:52:13 PM PST by
mrsmel
(Put the Gitmo terrorists near Capitol Hill.)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson