Tuesday, November 25, 2014

Entitlement programs in societies could create its own problems

Milton Friedman pictured with then President of USA - George Bush

We have an entitlement society. Milton Friedman wrote about this – the more you give to people, essentially the more poverty you create.

It's interesting. I just read today a survey of the army. Apparently, 70% of the people who apply to join the army in the US are rejected because they're useless. They're useless. You can imagine – the army doesn't have the highest standards, they're not the standards of Goldman Sachs. 

If 70% of the people there are rejected you can imagine how many useless people there are. I'm not singling out the US in this respect; this also happens in other countries.