What would the people who sold us goods do with the money? They'd get dollars. What would they do with the dollars? Eat them?!
About this quote
- What does it mean?
- Critics worry about foreign money but forget that sellers just spend it on goods.
- In plain terms
- Money received from trade is usually spent on products.
- What can you take from it?
- Trade balances out when money circulates.
Where it applies
Putting it to work
Questions to consider
- What happens to the money next?
- Does spending matter?
Another view
Sellers might save rather than spend.
More from Milton Friedman
What is not forbidden in Sweden, is obligatory.
Permalink to quote #42 If you pay people not to work and tax them when they do, don't be surprised if you get unemployment.
Permalink to quote #44 We have a system that increasingly taxes work and subsidizes non-work.
Permalink to quote #41
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