Four Ways Money is Spent (Milton Friedman) | from Not An Economist channel

Spending money is always more difficult than making money :)
But have you heard about the 4 ways of spending money that Milton Friedman discussed? This will give you an insight into the psychology and incentives of people when they spend money, especially when it's not THEIR money. I wonder who is in the position to spend somebody else's money?!

0:00 - Spending Money on Yourself
0:27 - Spending Your Money on Somebody Else
0:56 - Spending Somebody Else's Money on Yourself
1:16 - Spending Somebody Else's Money on Somebody Else
2:34 - Joke

Milton Friedman Playlist:
https://youtube.com/playlist?list=PLbVVaabAopv98lM-B9BcokQ_HsI_5W4nK

Ayn Rand Playlist:
https://youtube.com/playlist?list=PLbVVaabAopv-wXA5TLbltJfj2tCbcJQPn

All music and sounds are from https://www.epidemicsound.com