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Four Ways to Spend Money- Econ in Real Life

In this episode, I discuss Milton Friedman's assertion that “nobody spends somebody else’s money as carefully as he spends his own.” To be clear, this is not a valid experiment and I'm not claiming that it is. This is just an interesting way to introduce Friedman's assertion to students and get them thinking about private and public spending. I'm also not saying that all government spending is bad or wasteful (although Friedman argued that much of it is). I'll be addressing that in another video. Thanks for watching. I want to give a huge thank you to Mrs. Borgardt and the Seniors at San Pasqual High School for letting me come in and work with them. I had a blast. BTW, today was "Denim Day". That's why these students are wearing so much denim and jeans :) Check out some other cool econ videos-    • Video Game Crash!- Econ in Real Life   Academic studies on this general topic: http://www.nber.org/papers/w13557.pdf https://www.amherst.edu/media/view/10... Learn more about Milton Friedman-    • EconMovies #12- The Terminator