Milton Friedman on the 4 ways of Spending Money | Milton Friedman

Milton Friedman - Four Ways To Spend Money

Elon Musk: “It’s like what Milton Friedman said—money is most poorly spent when you’re spending someone else’s money on people you don’t know. That’s the federal government.”

Milton Friedman on government’s four major functions:1) Ensure national defense2) Protect citizens from “abuse and coercion by other citizens”3) Define and uphold private property rights4) Maintain a judicial system to adjudicate disputes and enforce rules