Thank God for Inefficient Government!

Speaking of Milton Friedman, here is a great quote:

The United States today is more than 50% socialist in terms of the fraction of our resources that are controlled by the govern ment. Fortunately, socialism is so inefficient that it does not control 50% of our lives. Fortunately, most of that is wasted. People worry about government waste; I don't. I just shudder at what would happen to freedom in this country if the govern ment were efficient in spending our money. The really fascinating thing is that our private sector has been so effective, so efficient, that it has been able to produce a standard of life that is the envy of the rest of the world on the basis of less than half the resources available to all of us.

Full speech here.