“TANSTAAFL”–What Does It Mean and Why Does It Matter to You and Yours?

“In the early, scruffy days of the modern libertarian movement, the late 1960s and early 1970s, a popular libertarian slogan was TANSTAAFL — “There ain’t no such thing as a free lunch.” “Science fiction author Robert A. Heinlein had popularized the phrase and the abbreviation in his 1966 Hugo Award‐winning novel The Moon Is a Harsh Mistress,” stated the Cato Institute. “"No such thing as a free lunch" is a popular adage communicating the idea that it is impossible to get something for nothing. The acronyms TANSTAAFL, TINSTAAFL, and TNSTAAFL are also used. The phrase was in use by the 1930s, but its first appearance is unknown,” according to left-leaning Wikipedia.

It may be improper English, as your middle school instructor might have said, but TANSTAAFL is hailed by many across the spectrum as true, potent, and a practical way to avoid traps by politicos, high pressure sales operators, and others.

David Boaz in a post for the Cato Institute said: “a young economist named Edwin Dolan, who published a book in 1971 titled TANSTAAFL: A Libertarian Perspective on Environmental Policy. So was [Robert] Heinlein the first?”

“The website Quote Investigator dug deeper, and found a 1938 newspaper article titled “Economics in Eight Words.” It was a fable of a king who demanded that his economic advisers give him a “short and simple text” on economics,” wrote Boaz.

Finally there was just one elderly economist left, who said to the king,

“Sire, in eight words I will reveal to you all the wisdom that I have distilled through all these years from all the writings of all the economists who once practiced their science in your kingdom. Here is my text:

“There ain’t no such thing as free lunch.”

That seems to be the first time the phrase was used specifically as an economic principle."

"The human race divides politically into those who want people to be controlled and those who have no such desire". - Robert A. Heinlein. Hold that thought, because Heinlein may have been warning our time about those who seem to promise something for nothing, but that promise comes with a hidden cost.

“There’s no such thing as a free lunch” was popularized by Milton Friedman. Notice the link made by Friedman to inflation and public policy in this video. "Free to Choose" on PBS was hosted by Friedman. Notice how Friedman made the case that when public officials push policies that fail, they often don't suffer the consquences that a private businessperson would.

Investopedia explains the other usage of the phrase. “"There ain't no such thing as a free lunch" (TANSTAAFL), also known as "there is no such thing as a free lunch" (TINSTAAFL), is an expression that describes the cost of decision-making and consumption. The expression conveys the idea that things appearing free always have some cost paid by somebody, or that nothing in life is truly free.” “The TANSTAAFL concept is important to consider when making various types of decisions, whether they be financial or lifestyle. The concept can help consumers make wiser decisions by considering all indirect and direct costs…”

"If your favorite bakery advertises free cupcakes, are they really free? You need [to] consider the time it takes you to drive to the bakery, wait in line, etc. These are the “costs” of the seemingly free cupcakes," said Marginal Revolution University [MRU} as part of their explanation for TANSTAAFL.

"TANSTAAFL can also help explain why “fun” jobs pay lower wages than “boring” jobs. Would you rather be a sewer inspector spending your days underground or a lifeguard on the beach? Most would say that being a lifeguard is a more fun job, but a sewer inspector has higher wages to attract workers and to compensate for the not-so-fun aspects of the job. For jobs requiring equal skill and education, more fun = lower wages, and less fun = higher wages," also according to MRU.

Now, let's apply this TANSTAAFL principle to the current election cycle. Both of the major party candidates are making promises that include something "free" or something that is going to be paid for by 'the insurance company' or by government. But just because someone else is paying for something, is it really free?

It was not so long ago, during the declared COVID19 outbreak, that money was sent by the federal government into citizens bank accounts or mailboxes. It may have seemed necessary or even great at the time. But the result was inflation which drove prices so high, that much of the country is now struggling to make housing costs, higher groceries, utilities, gas or other payments.

That 'free' money came with a heavy price, didn't it?

Furthermore, because government borrowed to provide that 'free' money, the cost for financing, and the cost for servicing the federal debt have shot higher.

One of the two major party candidates is promising $25,000 for some as down payment help in buying a house. Can you imagine what that 'free money' will do to housing costs? Economists who get it about TANSTAAFL provide the answer. It will drive housing costs even higher.

Now she says it’s a $25,000 down payment? On her interview she said it was a $25,000 tax credit which would be after they bought the house and not year’s tax return. Either way, not fair and who’s going to pay for it? Us who have paid our own homes already?
— Paula Nienhueser (@pollywogpearls) September" class="redactor-linkify-object">https://twitter.com/pollywogpe... 11, 2024

Kamala Harris’s proposal to give $25,000 in down-payment assistance to certain home buyers—a demand-side subsidy. It’s meant to ease the burden of purchasing a home, but by increasing demand it would drive prices up and worsen the problem. pic.twitter.com/W2SYUBossm
— Hankster (@Hankste45913145) September" class="redactor-linkify-object">https://twitter.com/Hankste459... 12, 2024

"This tax credit juices demand but does not necessarily help on the supply side unless builders respond to it as well," https://t.co/6b8kyMK0vr economist Danielle Hale says on Kamala Harris's proposed $25,000 tax credit to cover down payment costs for first-time homebuyers. pic.twitter.com/goG8rvXgWu
— Yahoo Finance (@YahooFinance) September" class="redactor-linkify-object">https://twitter.com/YahooFinan... 12, 2024

There is no free lunch. Someone always pays.

Let me say, I'm a political independent. I've not been registered with either major party for a dozen years or more. I'm not saying being a political independent is best, because in Florida, that means I can't vote in a primary. Right or wrong, this is a closed primary state. But I'm an independent because historically there have been errors made by key figures and policy positions in the platforms in both major parties. Minor parties aren't perfect either. No candidate, no party is perfect. We have to select from the best of the bunch available.

Is the best candidate the one that promises the most free stuff? Obviously, TANSTAAFL says no.

In fact, one of the clues I use in deciding who to support is based on who is the most honest about so-called free stuff.

When a candidate or politician promises to pay off student debt, for example, that means someone else is paying for that debt. It is hardly fair for someone that never went to college to have to pay for the education of someone that borrowed the money to go for a diploma. That may not be popular to read or here, but isn't that true? Personally, I didn't borrow money to go to the university, I worked and saved. When my college days were done, I owed nothing to anyone.

The ease with which someone can borrow money to go to college is said to be a contributing factor to the skyrocketing costs of higher education. Again, the root causes of that are linked to TANSTAAFL. The student gets the money, but it really goes to the college, university or others. Because students can get the loans, universities may charge more. Then comes the years or even decades of payments on those debts. What sounded good at first may turn out to be a bitter burden for millions.

I'm going to introduce a key word that we Americans must understand. Paltering.

Wikipedia says: "Paltering is the active use of selective truthful statements to mislead."

Paltering is also known as a half-truth or a true lie. Some candidates live by paltering. Some politicians and business people live on half-truths, paltering, and what the Capital Research Center aptly calls "Deception and Misdirection."

The truth may not be popular, but it has the advantage of being true. There is no free lunch. Anyone that tells you something different is either ignorant or is trying to sell you on something that could hurt you or someone you care about later on.

From time to time, I'll plan to share some insights that will benefit those who care to learn how to avoid the next snowjob. No candidate is perfect. Some are pretty good or even great at the razzle dazzle, but their policies will be bitter. Some are lousy at their own message, but may actually be the better candidate. For anyone that took a 'free night' or a 'free weekend' at a timeshare and later came to regret it, you already know the potentially high cost of "free."

There ain't no such things as a free lunch = TANSTAAFL.

https://patch.com/florida/lake...

Some of my English teachers would have cringed, but the smarter ones understood and shared it. I'm grateful to those who helped me learn that truth. ##

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