Interview with Milton Friedman

Discussion in 'Economy' started by Toro, Feb 12, 2006.

  1. Toro
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    Toro Diamond Member

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    http://economics.about.com/gi/dynam...italnpq.org/archive/2006_winter/friedman.html
     
  2. BaronVonBigmeat
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    BaronVonBigmeat Senior Member

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    Well actually, someone down the road has to deal with the consequences...and we feel the consequences here in the present, too. Our government does not have a time machine with which it visits people in the year 2035, to confiscate steel, rubber, wheat, etc. The funds it borrows today are felt here and now, via the "crowding out" effect. Money that it soaks up today represents money which could have stayed in the private sector and been invested. Taxes, borrowing, or inflation--there are three ways of paying for government spending, and all will cause some form of economic pain. There is no easy way around this; the only thing that matters is to reduce government spending.
     

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