Elijah S (@NauticaJournal) on Nostr: Milton Friedman famously explained the four ways to spend money as follows: "You can ...
Milton Friedman famously explained the four ways to spend money as follows:
"You can spend your own money on yourself, in which case you are careful about both what you spend and what you get. You can spend your own money on someone else, in which case you are careful about how much you spend but not as careful about what the other person gets. You can spend someone else’s money on yourself, in which case you are careful about what you get but less concerned about how much you spend. Or you can spend someone else’s money on someone else, in which case you are neither concerned about what you spend nor about what the other person gets. This last category is how governments tend to spend money."
#BTC #Bitcoin #Nostr #primal #Damus #Amethyst
"You can spend your own money on yourself, in which case you are careful about both what you spend and what you get. You can spend your own money on someone else, in which case you are careful about how much you spend but not as careful about what the other person gets. You can spend someone else’s money on yourself, in which case you are careful about what you get but less concerned about how much you spend. Or you can spend someone else’s money on someone else, in which case you are neither concerned about what you spend nor about what the other person gets. This last category is how governments tend to spend money."
#BTC #Bitcoin #Nostr #primal #Damus #Amethyst