Economist Milton Friedman's Great Remarks At The White House

Special Report With Brit Hume (Fox News Channel) ^

[Recovering_Democrat]

Brit Hume ran this gem from Milton Friedman at the end of his "Special Report" program tonight. Friedman was receiving some award at the White House today. The 90-year-old economist gave a great little definition of government by way of personal analogy. (The President was in view and seemed amused by the observation, too, by the way!) Here it is, as close to a direct quote as I can remember:

"If you spend your own money on yourself,
you care how much you spend and how well you spend it.

If you spend your own money on someone else, you care how much you spend, but you don't care how well it is spent.

If you spend someone else's money on yourself, you don't care how much you spend, but you do care how well it is spent.

And finally, if you spend someone else's money on someone else, you don't care how much you spend, and you don't care how well it is spent. That is government.

Classic.

[Recovering_Democrat]

I roared, having never thought about it quite like that.

[Kerberos]

I always did like Milton Friedman's articles.

[APBaer]

" if you spend someone else's money on someone else, you
don't care how much you spend,"

So W, I guess that covers you and the Farm Bill?

[Thane_Banquo]

In my opinion the greatest economist of the 20th century.

[Revolting cat!]

Milton Friedman receiving an award from the statists in power! Hmmm.
(Translation: Milton Friedman receiving an award for being old.)

[Dr. Scarpetta]

Thanks for posting this. I'm going to send it around in e-mail.

[Hipixs]

Will be rebroadcast on CSPAN2
05:47 am EDT Fri, 5/10/02
Tribute to Milton Friedman
White House, Eisenhower Executive Office Building

[Right_in_Virginia]

God bless you, Milt.

I'm proud to call you "hero".

[Revolting cat!]

What's the name of the award: "National Lip Service Award"?

[Weirdad]

bttt

[blam]

"In my opinion the greatest economist of the 20th century."

His wife, Rose, is no slouch either.

[keithtoo]

Friedman ROCKS

[gg188]

Four ways to spend money, from Milton and Rose Friedman's Free To Choose

[Recovering_Democrat]

Can you believe this guy is 90??

[connectthedots]

I'd say it is a toss-up between Milton and Rose Friedman, and F.A. Hayek, of The Road to Serfdom fame. The Friedman's book, Free to Choose should be required reading for every high school student, as well as members of Congress.

[gg188]

Friedman interviewed 10/01/01 for the (unbelievably fair) PBS miniseries "Commanding Heights" (for example, "Reagan unleashed the basic constructive forces of the free market and from 1983 on, it's been almost entirely up...")

[uncbob]

Friedman was also correct when he predicted that the War On Drugs would be a complete failure

[gg188]

http://www.freetochoose.com/

[Molly Pitcher]

FYI!