{"id":28039,"date":"2015-09-02T01:00:11","date_gmt":"2015-09-02T05:00:11","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=28039"},"modified":"2015-08-23T11:52:35","modified_gmt":"2015-08-23T15:52:35","slug":"qotd-the-only-four-ways-to-spend-money","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2015\/09\/02\/qotd-the-only-four-ways-to-spend-money\/","title":{"rendered":"QotD: The only four ways to spend money"},"content":{"rendered":"<blockquote><p>In Milton Friedman\u2019s 1980 PBS TV series <em>Free To Choose<\/em>, Friedman drew a simple graph showing that, mathematically, there are only four ways to spend money.<\/p>\n<p>Spending your money on yourself is efficient. Tonight\u2019s Special, prime rib with a small side dish of kale, looks like a good deal.<\/p>\n<p>Spending your money on other people is efficient too. She\u2019ll have the mac and cheese.<\/p>\n<p>Spending other people\u2019s money on yourself is not so efficient. The Wall Street Hedge Fund Managers\u2019 Annual Dinner will be at Maxim\u2019s in Paris.<\/p>\n<p>But spending other people\u2019s money on other people is the way government spending is done. Free caviar for all Americans! Whether they like caviar or not. And get in line because there\u2019s nothing except caviar, and it will be rationed.<\/p>\n<p>P.J. O&#8217;Rourke, <a href=\"http:\/\/www.thedailybeast.com\/articles\/2014\/09\/27\/my-coffee-klatch-with-rand-paul.html\" target=\"_blank\">&#8220;My Coffee Klatch With Rand Paul: The Kentucky small-l libertarian (and likely presidential candidate) talks with P.J. O\u2019Rourke about philosophy, money, and hopelessness&#8221;, <em>The Daily Beast<\/em><\/a>, 2014-09-27.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>In Milton Friedman\u2019s 1980 PBS TV series Free To Choose, Friedman drew a simple graph showing that, mathematically, there are only four ways to spend money. Spending your money on yourself is efficient. Tonight\u2019s Special, prime rib with a small side dish of kale, looks like a good deal. Spending your money on other people [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,57,41],"tags":[697,563],"class_list":["post-28039","post","type-post","status-publish","format-standard","hentry","category-economics","category-humour","category-quotations","tag-budget","tag-money"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-7if","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/28039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=28039"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/28039\/revisions"}],"predecessor-version":[{"id":28040,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/28039\/revisions\/28040"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=28039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=28039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=28039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}