Robert H. Frank - The fact that many private expenditures are mutually offsetting actually ha

The fact that many private expenditures are mutually offsetting actually happens to constitute a remarkably good bit of fiscal news. Mutually offsetting spending patterns are wasteful in the same way that military arms races are. In such situations, if each party spends less, nothing is sacrificed, yet resources are freed up that can be put to much better uses.

- Robert H. Frank

source: Source: bobmorris.biz

topic: Arms Race