keaimato

Canadian, U.S., and international politics; and life in general. Heck, whatever strikes my fancy...

Tuesday, December 12, 2006

An economics lesson

By Milton Friedman, of course

When I spend my money on me, I care about how much is spent and how it is spent.

When I spend my money on someone else, I care about how much I spend but not so much on how it is spent.

When I spend someone else's money on me, I care little about how much is spent but am concerned about how it is spent.

And when I spend someone else's money on someone else, I care little about how much is spent and about how it is spent.

And of course government falls in to this last scenario, explaining why there is so much waste and mismanagement. It's not malicious, it's natural.

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