"Nobody spends somebody else's money …"

Milton Friedman was an American economist and a leading figure in the field of monetarism.

The quote illustrates how personal responsibility influences the way money is spent.

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Milton Friedmanfinancespersonal responsibilitygreedinvestmentwealthcapitalism

Milton Friedman (1912–2006) was an American economist and Nobel laureate, renowned for his contributions to microeconomics, monetarism, and his advocacy of free-market policies. He influenced economic policy in the US and worldwide.

Milton Friedman quote about government spending and financial incentives

5. June 2025

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"When a man spends his own money to buy something for himself, he is very careful about how much he spends and how he spends it. When a man spends his own money to buy something for someone else, he is still very careful about how much he spends, but somewhat less what he spends it on. When a man spends someone else's money to buy something for himself, he is very careful about what he buys, but doesn't care at all how much he spends. And when a man spends someone else's money on someone else, he does't care how much he spends or what he spends it on. And that's government for you." Milton Friedman

Harry Edson Browne quote image about individual money use and government spending

1. May 2025

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"Everything we know about human nature and about government tells us that individuals using their own money will achieve far more good for themselves and far more for others than politicians spending money they didn't have to work to earn." Harry Edson Browne