This is Trend Following Radio, where great thinking comes alive.

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covel.

Not filtered, raw, honest.

That's my passion.

The great thing about the internet

is it allows me to interview people that are dead.

That's right. Through the power, the magic of technology, I can go back in time.

And I can interview those brilliant minds that I want to have on this show that I can't exactly get because they're

six feet under. My guest today is one of those men, Milton Friedman. I'm going to throw out some

quick questions, some quick ideas, and I'm going to let Milton elaborate, let him answer, even though he's no longer with us.

First, Professor Friedman, the free lunch myth.

I want to know your perspective.

It's the free lunch myth.

The belief that somehow or other government can spend money at nobody's expense.

I don't know how many of you have ever heard of a wonderful description of government that

was made by a French economist by the name of Frederick Bostiat about 150 years ago.

He said, government is that fiction whereby everybody believes that he can live at the expense of everybody else.

And that is the free lunch myth.

The myth that somehow or other, government can provide goods and services can spend money

at nobody's expense.

Now the particular form which that myth takes is very specific.

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