Economics 1740 Economic History of the U.S.
"Liberty and Economics" is a summary or review on the book "Free to Choose" by Milton Friedman, Nobel Prize winner in Economics.
|
Liberty and Economics.doc Size : 25600 Kb Type : doc |
Reflection on "Free to Choose"
Many of the history and topics that Milton Friedman talked about in his book we had discussed in class or in the text. However the connections he makes helps me understand what is being said and how it applies to me. He breaks down the market and shows how many industies are effected by the rising need of a pencil. I never thought of how many people, jobs, resources, and time can go into one small product. Friedman also brings up persuasive arguments or standpoints towards a free market and capitalism. I see the benefits of giving everyone the freedom that they need to be successful and how everyone can benefit from that. I am still not sure how much if any government involvement is necessary. I just know that the government provides the freedom that we enjoy through the protection of our rights through law and military. We could be left unprotected and the world would be dangerous. I say that there should be a medium between the two so the lives we live will continue to be protected and we can also be profitable. We can have that brighter future that Milton Friedman hopes for us.
