The 4 Ways to Spend Money

In his book 'Free to Choose', Milton Friedman described four ways to spend money.

		On Whom Money is Spent
Whose Money is Spent		Yourself	Someone Else
	Yours	Economize and seek highest value	Economize, but don’t seek highest value
	Someone Else’s	Don’t economize, but seek highest value	Don’t economize and don’t seek highest value

Here is the video link on how he explains.