Political Science Discussion:
Milton Friedman: Capitalism and Freedom
Read: Preface 1982, Introduction, Chapters 1, 2, 6, 7 (pages 133-136), 8, 11, 12 and 13.
What are the basic assumptions the lay behind this book? What is Friedman’s political theory? (see page 200-01 for a key summary) What is his view of human nature?
Why does Friedman say his ideas were unpopular in 1962 but mainstream by 1980?
What are the events that caused the change in opinion? (See Preface, 1982).
Why does Friedman object to President Kennedy’s famous statement: “Ask not what your country can do for you, ask what you can do for your country?”
Why does he find both parts of the statement objectionable?
What is the greatest danger to freedom? What are Friedman’s 2 key principles?
Is government always the greatest threat to freedom? Is government always the problem?
Note the key assumption about what government does on page 4. Is Freidman right?
Note that the term “liberal” means something different for Friedman than it does for most Americans today (and most likely for Locke and Paine as well).
How are political freedom and economic freedom linked? Can you have one without the other? Does economic freedom inevitably lead to political freedom? What is the direction of causation?
What is his view of human nature?
What is the key requirement for economic freedom? Can that standard always be met?
What is the proper role of government in a free, capitalist society? Can the kind of government that Friedman wants have enough power to effectively support capitalism?
Does the free market automatically foster the free exchange of ideas? (page 18-19). What might stop the free exchange and expression of ideas in a capitalist society?
What are the proper roles of government?
What things should government provide? What are public goods?
Why does Friedman say that the government shouldn’t run national parks, but city parks are ok for government to run?
Friedman notes 14 things the government should not be doing on pages 35-6. Do you agree? Has the government stopped doing any of these things?
How should education be organized? What is the purpose of education, really?
Can the University of North Dakota by justified?
Is schooling “nationalized” in the United States?
How would Friedman’s voucher idea work?
Freidman argues that racism exacts costs which rational people won’t pay. So, why is their racism in a capitalist society?
Why does Friedman oppose “fair employment laws” (a sort of early affirmative action).
Can segregation in education be overcome by his voucher idea?
Does Friedman ignore the coercive power of business and large scale enterprise? Or would he argue that the concentration of power by business represents a failure by government to protect capitalism from itself?
What is the ONLY responsibility of business?
Why might Friedman say that charitable contributions by business are wrong?
What social welfare measures could Friedman support, if any?
Why would Friedman oppose minimum wage laws?
Why does he oppose social security?
What is the negative income tax?
Note the rates on income tax in 1962 on page 198.
What would a society based on Friedman’s principles look like?
What does Friedman want more people to be willing to accept? (hint: risk)
Is Friedman “anti-political?” If so, in what sense?