Selected by the Times Literary Supplement as one of the "hundred most influential books since the war" How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on.
Seminar paper from the year 2019 in the subject Business economics - Miscellaneous, grade: 1,0, University of applied sciences, Gütersloh, language: English, abstract: “Without the freedom to make mistakes, people cannot learn to take control of their lives successfully.” These are the words of Guy Standing, a British economist and cofounder of the Basic Income Earth Network (BIEN). The BIEN aims to inform people about what unconditional basic income (UBI) really is and how it works, based on scientific researches. But what is the connection between a successful life, making mistakes and the UBI? Humans often assume, that unemployed people, for example are lazy or less intelligent. To confirm these prejudices, it is blamed that everyone has the same opportunities. Unemployed people just do not take these opportunities. Nevertheless, life experience, education and social skills are not given by nature. Money is essential. People must pay for nearly everything that develops a personality or leads to equal chances. Making mistakes and learning from it is one part of this development, although not everyone has the financial space to try things and make mistakes. The money that someone owns depends on the income that this person has. To earn money normally a job is needed, but getting a job depends exactly on the things, that make out a personality. To develop this personality money is needed. It is like a vicious circle that cannot be broken. That is the moment, when the UBI comes into the picture. [...]
The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed Internet, health insurance, medical care, mortgage title insurance, social networks, Internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their pay check to monopolists and oligopolists. The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why is the US becoming a more unequal society, why is economic growth anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why are workers losing out.
China is more than a socialist market economy led by ever more reform-minded leaders. It is a country whose people seek liberty on a daily basis. Their success has been phenomenal, despite the fact that China continues to be governed by a single party. Clear distinctions between the people and the government are emerging, underlining the fact that true liberalization cannot be imposed from above. Although a large percentage of the Chinese people have been part of China's long march to freedom, farmers, entrepreneurs, migrants, Chinese gays, sex pleasure seekers, and black-marketers played a particularly important role in the beginning. Lawyers, scholars, journalists, and rights activists have jumped in more recently to ensure that liberalization continues. Social dissatisfaction with the government is now published in the media, addressed in public forums, and deliberated in courtrooms. Intellectuals devoted to improvement in human rights and continued liberalization are part of the process. This grassroots social revolution has also resulted from the explosion of information available to ordinary people (especially via the Internet) and far-reaching international influences. All have fundamentally altered key elements of the moral and material content of China's party-state regime and society at large. This social revolution is moving China towards a more liberal society despite its government. The Chinese government reacts, rather than leads, in this trans formative process. This book is a landmark - a decade in the making.
With the fall of the Berlin Wall, one economic model emerged triumphant. Capitalism-spanning a spectrum from laissez faire to authoritarian-shapes the market economies of all the wealthiest and fastest-growing nations. But trouble is cracking its shiny veneer. In the U.S., Europe, and Japan, economic growth has slowed down. Wealth is concentrated in the hands of a few; natural resources are exploited for short-term profit; and good jobs are hard to find. With piercing clarity, Philip Kotler explains 14 major problems undermining capitalism, including persistent poverty, job creation in the face of automation, high debt burdens, the disproportionate influence of the wealthy on public policy, steep environmental costs, boom-bust economic cycles, and more. Amidst its dire assessment of what's ailing us, Confronting Capitalism delivers a heartening message: We can turn things around. Movements toward shared prosperity and a higher purpose are reinvigorating companies large and small, while proposals abound on government policies that offer protections without stagnation. Kotler identifies the best ideas, linking private and public initiatives into a force for positive change. Combining economic history, expert insight, business lessons, and recent data, this landmark book elucidates today's critical dilemmas and suggests solutions for returning to a healthier, more sustainable Capitalism-that works for all.
From burning draft cards to staging nude protests, much left-wing political activism in 1960s America was distinguished by deliberate outrageousness. This theatrical activism, aimed at the mass media and practiced by Abbie Hoffman and the Yippies, the Black Panthers, and the Gay Activists Alliance, among others, is often dismissed as naive and out of touch, or criticized for tactics condemned as silly and off-putting to the general public. In Radical Theatrics, however, Craig Peariso argues that these over-the-top antics were far more than just the spontaneous actions of a self-indulgent radical impulse. Instead, he shows, they were well-considered aesthetic and political responses to a jaded cultural climate in which an unreflective “tolerance” masked an unwillingness to engage with challenging ideas. Through innovative analysis that links political protest to the art of contemporaries such as Andy Warhol, Peariso reveals how the “put-on” — the signature activist performance of the radical left — ended up becoming a valuable American political practice, one that continues to influence contemporary radical movements such as Occupy Wall Street.
Milton Friedman is one of the most famous economists in history. His writings and theories on everything from capitalism and freedom to deregulation and welfare have inspired movements, influenced government policies, and changed the course of America’s economic history. Now, acclaimed Friedman biographer Dr. Lanny Ebenstein brings together twenty of Friedman’s greatest essays in his new book, The Indispensable Milton Friedman: Essays on Politics and Economics. The only collection of Friedman’s writings to span his entire career, The Indispensable Milton Friedman: Essays on Politics and Economics features some of Friedman’s never-before-republished writings as well as the best and most timeless of his works. These exceptional essays not only illuminate the progression of Friedman’s thought, but explain how America might overcome some of its most difficult challenges. Broken into two sections, politics and economics, The Indispensable Milton Friedman shows how we can ultimately turn America around, and is more necessary than ever during this critical election year and time of economic uncertainty.
Moral Lessons on Capitalism from Its Greatest Champions and Fiercest Opponents
Author: James R. Otteson
Pubpsher: Encounter Books
Category: Political Science
What exactly is capitalism, and why do its advocates support it? What are the main objections to capitalism that have been raised by its critics? Are there moral reasons to support capitalism, or to oppose it? In this time of globalization and economic turbulence, these questions could not be more timely or more important. This book provides some answers through seminal readings on the nature, purpose, and effects of capitalism as understood by its most influential expositors, both historical and contemporary. In addition to Adam Smith himself, the selections gathered here include essays and excerpts by thinkers ranging from Locke and Rousseau to Hayek and Cass Sunstein. All are chosen and arranged to highlight the ways that capitalism bears on a set of fundamental human concerns: liberty, equality, social order, virtue and motivation. If you want to develop an informed judgment about whether markets and morality mix, this anthology is a good place to begin.