Quote of the day–Milton Friedman

There’s no such thing as a free lunch.


Milton Friedman
[One would think that those people who advocated for the “stimulus package” would have heard of this bit of wisdom before. Some will say overlooking Friedman can be blamed on deficiencies in our public school system. Others will claim many of those pushing the stimulus package know exactly what they are doing — creating a socialist America. I think it is likely they are both correct in their claims.–Joe]

4 thoughts on “Quote of the day–Milton Friedman

  1. Mr. Huffman:

    The phrase “there ain’t no such thing as a free lunch” was probably not originated by Milton Friedman. From the Wikipedia entry:

    “TANSTAAFL is an acronym for the adage “There Ain’t No Such Thing As A Free Lunch” originating in the 1940s and later popularized by science fiction writer Robert A. Heinlein in his 1966 novel The Moon Is a Harsh Mistress,[1][2] which discusses the problems caused by not considering the eventual outcome of an unbalanced economy. This phrase and book are popular with libertarians and is often seen in economics textbooks. In order to avoid slang the acronym “TINSTAAFL” (There Is No Such Thing As A Free Lunch) is sometimes used.”

    Or, as Heinlein’s fictional character says, “…if there was, this beer would cost half as much.”

    Regardless of the origin of the phrase, it’s still true. And it’s something the collectivists would like us to forget or ignore, right up until our economy looks like that of Zimbabwe, Venezuela, or Cuba.

  2. I should have not implied that Friedman was the originator. I was too lazy (and still recovering from a cold) to look up the origin. Thank you for doing that and informing me. I’ve read all of Heinlein’s books and he probably influence my personal philosophy as much or more than any other person (Ayn Rand runs a close second).

    But that Friedman did say it, Friedman is a very well known and respected economist, and it is applicable to our present situation was my main point.

    Thanks again.

  3. Ah, Blackwing answered my question.

    And while Heinlein did probably originate the phrase (and it is certainly the first place I picked it up), those words carry so much more meaning when coming out of Friedman’s mouth.

    In either case, though, they hold true today, as much as the day that either man said/wrote them.

  4. Your Quote… Others will claim many of those pushing the stimulus package know exactly what they are doing — creating a socialist America. I think it is likely they are both correct in their claims.–Joe]

    Quite astute observation. Remember that BO is a disciple of those who do not believe in freedom — of just about any variety. He is a confirmed believer and practicioner of the Cloward-Piven Strategy of Manufactured Crises to destroy government.

    Some back checking into American Thinker will direct you to articles detailing BO’s involvement in pressuring major U.S. banks to provide mortgage financing in support of Fannie & Freddie — this occurred in the Mid 1990’s right after Clinton got Congress to
    liberalize the rules surrounding the Community Housing Act (liberalize meaning to do away with regulatory oversight).

    Believe those who the public (at least the “52ers”) have elected have been in the planning and preparation phases for quite some time. Now they are in the Execution phase.

    Quite likely both of their Plan and our nation.

    Regards, DWH

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