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There Is No Such Thing As A Free Lunch

Milton Friedman

Although commonly attributed to Nobel Laureate Milton Friedman, the expression “There ain't no such thing as a free lunch” long predated him. In fact, it described the practice of saloons (bars) offering a “free” lunch to patrons who purchased at least one drink.  The luncheon was generally high in salt (cheese, salted crackers, nuts), enticing patrons to purchase generous volumes...

Taxing The Country Into Welfare And Disability


"We contend that for a nation to try to tax itself into prosperityis like a man standing in a bucket and trying to lift himself up by the handle.It is impossible."  Those were not the words of an Australian Commonwealth Treasurer but rather of Winston Churchill addressing the House of Commons in 1925 arguing against a proposed increase in taxes. Almost...

This Tax To GDP Rate Is Mind-Blowing!


With the Commonwealth Budget due to be presented later today, Australians should reflect on the words of Winston Churchill, who wisely observed that “there is nothing government can give you that it hasn't taken from you in the first place.”  Such clarity seems missing from our contemporary economic and public finance debates. There is a myth, even an attempt at...

FREE! The Kerry Packer Classical Liberal Masterclass


Some thirty plus years ago, a fellow by the name of Kerry Packer appeared before a House of Representatives Inquiry into Print Media.  The context of the inquiry was that the owner of the main metropolitan newspapers and classifieds, Fairfax, had gone broke.  And with Fairfax having gone broke, Packer was trying to buy into the re-floated business.  This was a...

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