Milton Friedman explains the Four Ways to Spend Money.
1. Spend your own money on yourself.
2. Spend your own money on somebody else.
3. Spend somebody else’s money on yourself.
4. Spend somebody else’s money on somebody else.
When do people seek the most value for the money? When do people accept the least value for the money? Which way does government spend money? Watch this video for the answers.
