View source for TANSTAAFL

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[[Category:Libertarian Propaganda Terms]]
[[Category: Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly]]
{{DES | des = Acronym for "There Ain’t No Such Thing As A Free Lunch".  Used by libertarians to point out that "free" government programs have hidden costs in taxes.  But of course the private sector has always been loaded with examples as well.  Why is it OK for the private sector but not for government? | show=}}
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The original example of a free lunch was saloons, which would offer a salty free meal to encourage purchase of a lot of beer.  Another example has been radio and television broadcasts: they seem free, but we pay for them by being subjected to advertising.  We all hate waiting for commercials to end: it wastes about 20% of our listening/viewing time.

The most recent example of "free" services is Google and the social media.  The cost is our information, which instead could belong to us and be charged for by us.   Instead, it is sold to advertisers, making grotesque monopoly profits for Google.  Another cost is our privacy, both from commercial interests and government (which can all buy this information.)

[[John Quiggan]] also points out in "[[Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly]]" that there really ARE free lunches because (a) the economic system doesn't function perfectly to reach equilibrium, (b) technological improvement and (c) every market exchange.  He calls this [[TISATAAFL]], "There Is Such A Thing As A Free Lunch".
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