There is no such thing as a free lunch . . . or breakfast

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TANSTAAFL is an acronym for the adage “There Ain’t No Such Thing As A Free Lunch.”  Sometimes it is known as “TINSTAAFL” — “There Is No Such Thing As A Free Lunch” to avoid the double negative.  Its economic meaning is that everything has a cost, even if you don’t directly pay for it for yourself.

This morning, Denny’s is giving away “free” $5.99 Grand Slam breakfasts to anyone who wants one.  Two eggs, two pancakes, two sausage, and 2 pieces of bacon.  Free?  I don’t think so.  How much is your time worth to you?  It get your “free” Grand Slam, you will need to wait in line for a long, long time.

Last week, I started reading Applied Economics: Thinking Beyond Stage One by Thomas Sowell. I think it should be required reading for any elected official.  Every clearly, Sowell points out that we need to think through our decisions beyond the results of the immediate consequences.  Again, the principle of TINSTAAFL comes into play.  Nothing is free, everything has a cost, and everything has a deeper impact than what we usually think.

The next time you are offered something for free, do a quick analysis and try to determine its true costs.  It might help you understand some basic principles of economics that that have slipped away from most of our members of Congress.

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One Response to “There is no such thing as a free lunch . . . or breakfast”

  1. CALIFORNIA GIRL :o) Says:

    A stupid $5.99 free breakfast is not worth waiting any line for. DUMB!

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