It is impossible to do good with other people's money (Friedman), because the incentives inherent in spending money that is not your own undermine the goal; combined with the Hayekian knowledge problem, this makes top-down efforts to improve distant people's lives prone to failure.

causalpending

Speaker

Russ Roberts

Evidence Quote

it's impossible to do good with other people's money

Source

Mike Munger on Fair Trade and Free Trade 12/3/2007EconTalk
Created: 6/17/2026, 10:31:24 AM

My Notes

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