Milton Friedman explained what government spending means in the simplest way:

- when you spend your money on yourself, you will get the best service for the least money

- when you spend your money on others (e.g. on gifts), you will be careful not to spend too much and the quality will not be so important

- when you spend other people's money on yourself (eg the government pays or the company pays), you will get the best service for an exorbitant price

- when you spend other people's money on others (the government redistributes) - the service will be bad and the price too high

Reply to this note

Please Login to reply.

Discussion

No replies yet.