Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Standard view
Full view
of .
Look up keyword
Like this
0 of .
Results for:
No results containing your search query
P. 1
Friedman Capitalism and Freedom

Friedman Capitalism and Freedom

Ratings: (0)|Views: 304 |Likes:
reaction paper..:)
reaction paper..:)

More info:

Published by: arthur-john-garraton-8317 on Dec 21, 2009
Copyright:Attribution Non-commercial


Read on Scribd mobile: iPhone, iPad and Android.
download as DOCX, PDF, TXT or read online from Scribd
See more
See less





II FriedmanCapitalism and Freedom
“History suggests that capitalism is a necessary condition for political freedom, clearly it is not a sufficient condition.” - Milton Friedman
THE ROLE OF THE GOVERNMENT IN A FREE SOCIETYThe first argument I found in this chapter was the ideal role of government in a freesociety is unanimity among responsible individuals achieved on the basis of free and fulldiscussion that it permits unanimity without conformity, that it is a system of effectively proportional representation. Among him, Milton Friedman, many sound arguments in favor of free enterprise and free choice over government centralization of economic activity, MiltonFriedman often made the point that competitive capitalism facilitates "unanimity withoutconformity," that is, it provides powerful incentives for the market to cater to the heterogeneous preferences of consumers, while government by its very nature must impose one size fits all or who can probably meets the needs of the people.GOVERNMENT AS RULE-MAKER AND UMPIREIn a free society, basically the roles of the government in a free society, first is to providea means whereby we can modify the rules, next is to mediate differences among us on themeaning of the rules, and lastly to enforce compliance with the rules, which is another argumentof mine. There is a law to be follow like a good game which requires acceptance by players bothof the rules and of the umpire to interpret and enforce them. In a good society requires that itsmember agree on the general conditions that will govern relations among them, arbitrating
different interpretations of conditions, and enforcing compliance with the generally acceptedrules.MONOPOLY AND NEIGBORHOOD EFFECTSThe role of the government should just considered is to do something that the marketcannot do for itself, for instance, to determine, arbitrate and enforce the rules. According to theauthor, the government of a liberal society should enforce law and order and property rights, aswell as take action on certain technical monopolies and diminish negative "neighborhoodeffects." The government should also have control over money, as has long been recognized inthe constitution and society.
After reading Capitalism and Freedom carefully, my opinion of Milton Friedman has been revised upward. The chapter that I had read from Milton, Capitalism and Freedom, left methinking he was a great thinker. Although my recollections were that Capitalism and Freedomwas surprisingly lacking in nuance. That is probably because it was targeted for a mass audience, but its simplicity still seems like a negative mark for Milton Friedman. Capitalism and Freedomhas very few numbers, and no models, but it is well-argued nonetheless. It is full of rhetoric, butit is the kind of rhetoric that makes sense -- the kind which characterizes government controllingthe individual as a violation of human rights. Friedman argues against the central control whichwas prominent at the time, but is no longer taken seriously.

Activity (8)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads
wanzza liked this
Rory Cahill liked this
as111320034667 liked this
ChuckDarwin liked this

You're Reading a Free Preview

/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->