Milton Friedman (audio clip)
Appearances
The Charlie Kirk Show
The Global Supply Chain and You
Look at this lead pencil. There's not a single person in the world who could make this pencil. Remarkable statement? Not at all. The wood from which it's made, for all I know, comes from a tree that was cut down in the state of Washington. To cut down that tree, it took a saw. To make the saw, it took steel. To make the steel, it took iron ore.
The Charlie Kirk Show
The Global Supply Chain and You
We call it lead, but it's really graphite, compressed graphite. I'm not sure where it comes from, but I think it comes from some mines in South America. This red top up here, the eraser, bit of rubber, probably comes from Malaya, where the rubber tree isn't even native.
The Charlie Kirk Show
The Global Supply Chain and You
It was imported from South America by some businessman, or the yellow paint, or the paint that made the black lines, or the glue that holds it together. Literally thousands of people cooperated to make this pencil. People who don't speak the same language, who practice different religions, who might hate one another if they ever met.
The Charlie Kirk Show
The Global Supply Chain and You
When you go down to the store and buy this pencil, you are in effect trading a few minutes of your time for a few seconds of the time of all those thousands of people.
The Dan Bongino Show
The Liberal Meltdown Means They're Guilty In This Scandal (Ep. 2420)
As I said before, keep your eye on one thing and one thing only, how much government is spending, because that's the true tax. Every budget is balanced. There is no such thing as an unbalanced federal budget. You're paying for it. If you're not paying for it through it in the form of explicit taxes, you're paying for it indirectly in the form of inflation or in the form of borrowing.
The Dan Bongino Show
The Liberal Meltdown Means They're Guilty In This Scandal (Ep. 2420)
The thing you should keep your eye on is what government spends, and the real problem is to hold down government spending as a fraction of our income. And if you do that, you can stop worrying about the debt.
The Dan Bongino Show
Cutesy Time Is Over (Ep. 2429)
Well, you know, you can spend your own money on yourself. And when you spend your own money on yourself, you're very careful of what you spend it on. And you make sure that you get the most for your daughter. You can spend your own money on somebody else. You give gifts to other people. You take people out to dinner.
The Dan Bongino Show
Cutesy Time Is Over (Ep. 2429)
And when you spend your own money on somebody else, you're very careful that you don't spend too much. You try to keep down the amount you spend. But you don't worry very much about what the other fellow is getting from it. You don't pay anything like as much attention to the gifts you buy for other people as to the things you buy for yourself.
The Dan Bongino Show
Cutesy Time Is Over (Ep. 2429)
Or you can spend somebody else's money as when you're spending the government's money. I say the government's money, the taxpayer's money, which the government has control of. Now you're spending somebody else's money. Let's say you're spending your boss's money. You're out to lunch on an expense account, but you're spending it on yourself.
The Dan Bongino Show
Cutesy Time Is Over (Ep. 2429)
You're very careful that you get good things for your money. You try to have a good lunch and pick the right things. But you're not very much worried about whether you get the cheapest... Spend all you want. Spend all you want. You'll be careless. Now, what happens when you spend somebody else's money on somebody else? You're a distributor of welfare funds.
The Dan Bongino Show
Cutesy Time Is Over (Ep. 2429)
Well, you're interested in making your own life as good as you can. And most people have humane instincts and want to do the best they can. But you're not going to be anything like as careful. in spending somebody else's money on somebody else. So there are four ways in which you can spend money.