Someone posted a four category (if I remember correctly) delineation of the economics and logic behind peoples choices when spending money (i.e. how well it spent when it their money, how poorly it is spent when it is someone else’s, etc.). The last category was how poorly government spends money/allocates resources because those resources are not their resources, thus there is no incentive to use them wisely, or something to this effect. Does this example sound familiar to anyone? If it does, I would greatly appreciate its source or re-posting. I do know for certain there were four categories to the delineation. People fell into category #2 and government fell into category #4. Thanks so much in advance.
Do a google domain search for any sentences you remember:
site:mises.com “______”
It’s the famous ‘four ways to spend money’ by Milton Friedman:
Thanks for the insight Caley!
And thank you EmperorNero. That was exactly what I was looking for. I’ll file that one!