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.
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Russ RobertsEvidence Quote
“it's impossible to do good with other people's money”
Created: 6/17/2026, 10:31:24 AM
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