Comments on: The Four Different Ways To Spend Money By Milton Friedman

By: Xerographica

Xerographica — Sat, 12 Nov 2011 12:26:30 +0000

Taxpayers should be allowed to directly allocate their taxes! Forcing taxpayers to consider the opportunity costs of their tax allocation decisions is the only way to guarantee the best possible use of public funds.

People usually respond to this idea with concern that some “important” government organization would be underfunded. They don’t understand that their concerns just indicate how they themselves would allocate their own taxes if given the opportunity. I’m sure if more people actually understood how the invisible hand works that this idea would have already been implemented.

http://pragmatarianism.blogspot.com/2011/11/opportunity-cost-of-public-goods.html

By: Challenging Your Thoughts and Beliefs | Invest It Wisely

Challenging Your Thoughts and Beliefs | Invest It Wisely — Mon, 15 Nov 2010 13:02:06 +0000

[...] these bureaucrats are spending other people’s money, they have much less of an incentive to use this money wisely, and costs rise stratospherically as [...]

By: Weekly Link Round-up for October 15, 2010 | Blueleaf

Weekly Link Round-up for October 15, 2010 | Blueleaf — Sat, 16 Oct 2010 16:58:43 +0000

[...] Four Different Ways To Spend Money By Milton Friedman – Financial Samurai [...]

By: Moneyedup Monday – Guest posts

Moneyedup Monday – Guest posts — Mon, 16 Aug 2010 10:36:43 +0000

[...] has left us with a great deal of wisdom. The Financial Samurai posted video clip of Mr. Friedman in four different ways to spend money. I have to agree that spending someone else’s money on someone else is the worst way to spend [...]

By: Premium Finance

Premium Finance — Tue, 10 Aug 2010 05:31:31 +0000

Amazing tips. This is a must-read for everyone. Indeed, every single cent is important so we have to spend it wisely.

By: 10 Steps To Improve Your Finances « The Wealth Artisan

10 Steps To Improve Your Finances « The Wealth Artisan — Fri, 06 Aug 2010 13:25:58 +0000

[...] Financial Samurai: The Four Different Ways To Spend Money [...]

By: Instant payday loans

Instant payday loans — Wed, 04 Aug 2010 10:45:33 +0000

Nice tips. By spending their own money on themselves, people really watch out what thay are doing, and try to get the most for their money and by spending someone else’s money on someone else, they are concerned about what they will actually get.

By: Greg McFarlane

Greg McFarlane — Mon, 02 Aug 2010 19:41:13 +0000

I’m fairly certain that Dr. Friedman would have argued that providing defense and roads are two of the few legitimate functions of government: a private road system (or defense force) has too much potential for free riders who’d benefit from the product without ever paying for it.

But health care? That’s the ultimate personal service. The only one who benefits from my fixed broken ankle is me. Same deal with buying a vehicle from GM or Chrysler. When our politicians decide that almost any personal economic benefit constitutes a “right”, there’s no limit to what they’ll judge appropriate for the greater good.