Week 5 Assignment
A synthesis helps individuals to identify and understand the main points of each selected source and how they relate to each other. Please analyze and contrast the Introduction and Literature Review of these articles on Friedman. Please provide a synthesis discussing his economic impact. All Articles can be found in EBSCO.
Ashford, R. (2010). Milton Friedman’s Capitalism and Freedom: A Binary Economic Critique. Journal of Economic Issues (Taylor & Francis Ltd), 44(2), 533–541. https://doi.org/10.2753/JEI0021-3624440226
Hetzel, R. L. (2007). The Contributions of Milton Friedman to Economics. Economic Quarterly (10697225), 93(1), 1–30. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=25023257&site=ehost-live&authtype=uid&user=grantham&password=Research1951!
Mulligan, T. (1986). A Critique of Milton Friedman’s Essay “The Social Responsibility of Business Is to Increase Its Profits.” Journal of Business Ethics, 5(4), 265–269. https://doi.org/10.1007/BF00383091
Popov, G. (1990). The Rebellion Against Keynesianism: Milton Friedman. Problems of Economics, 33(5), 99. https://doi.org/10.2753/PET1061-1991330599
Explanation & Answer length: 2500 words4 attachmentsSlide 1 of 4
UNFORMATTED ATTACHMENT PREVIEW
JOURNAL OF ECONOMIC ISSUES Vol. XLIV No. 2 June 2010 DOI 10.2753/JEI0021-3624440226 Milton Friedman’s Capitalism and Freedom: A Binary Economic Critique Robert Ashford Abstract: This article presents a binary economic critique of Milton Friedman’s thesis that a competitive, free market, private enterprise, capitalist system is an essential condition for freedom. After identifying deficiencies in Friedman’s understanding of private property and economics, this article explains how a market economy based on Friedman’s flawed understanding concentrates economic power in a plutocracy, perpetuates chronic underemployment of labor and capital, and suppresses the freedom of most people. It advances a “binary economic approach” to create a more productive and democratic market system characterized by greater, more sustainable, and
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