Monday, January 10, 2011

Milton Friedman: Free to Choose: Part 4-- From Cradle to Grave

The welfare state arises from the attempt to do good with other people's money. Such attempts always fail because: Nobody spends somebody else's money as carefully as his own. Welfare is supply driven. Those spending the money use force to collect it and to insure those receiving it use it for "right" purposes. Good intentions are corrupted by bad means. Friedman visits U.S. and Britain.

The dollar amounts of waste, fraud and abuse that Friedman cites with horror are merely chump change by today's standards.

No comments:

Post a Comment