Milton Friedman Government Intervention On The Economy Essay

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The Effects of Goverment Intervention Within Economy
Source one is a direct quote from Milton Friedman illustrating his perspective and opinion on the market economy. Within the quote, Friedman is directly voicing his belief that the only logical way for an economy to be ran is through means of private ownership and investment. In his mind, interference from the government only disables the everyday consumer from living in what he thinks should be a free society. Within his quote he states, “Nobody spends somebody else’s money as carefully as he spends his own. Nobody uses somebody else’s resources as carefully as he uses his own.” With this statement, Friedman is implying that the government has no right to dictate how consumer’s money and
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He stated, “The free market punishes irresponsibility. Government rewards it.” This clearly illustrates that he, like Friedman, is strongly in favour of capitalism, and the ideas that it brings to society. Typically a market economy has strict societal class divisions, and those who work hard for what they earn are normally put into the middle and upper class. Browne is in agreeance with this theory because he believes that those working for their profits should be rewarded for their actions. On the contrary, he thinks that those who fall into the lower class should not be rewarded by the government through means of welfare programs. In his opinion, the act of taking money from the government without earning it is simply irresponsible. He thinks that when the government intervenes with economy in such a manner that they are simply encouraging poor behaviour. Browne’s opinions are similar to those displayed in Adam Smith’s book “Wealth of Nations”. Smith had a strong opinion that individuals should be free to work solely for themselves, and those who neglect to do so shouldn’t be rewarded for their lack of self interest. This quote, much like the last, portrays Browne as a classic liberal. His ideology is consistent with that of a classic liberal in that he does not agree with the government hampering economic growth by acting as a charity case. …show more content…
Source one is a quote displaying Milton Friedman’s displeasure towards the government being able to hold jurisdiction over the money and resources consumers work to provide for themselves. It is a direct statement supporting the ideas of an economic system in which people are allowed to work wherever they want, gaining profit by performing to their fullest potential. Source two is a quote from Harry Browne that exhibits his dislike towards unmotivated people who are rewarded for their own selfishness. He is saying that those who do not work for what they earn are not rewarded in market economy, and thus, he frowns upon those who rely on the government for their money. Source three shares a similar opinion as source two in that it is displaying how those who do not work for their income should not be allowed to freeload off of those who do. Both are saying that the government should not encourage the poor behaviour of citizens who are willingly to take from the rich, ran then work towards getting themselves out of the proverbial rut of poverty. The third source, unlike the others simply displays an example of this principle by calling Barack Obama out based on his actions. It is displaying him giving candy (which in this instance symbolizes money) to children who did not get as much. This is meant to criticize

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