How Did Milton Friedman Affect The Economy

The famous economist, Milton Friedman, had many economic theories and he would have definitely made huge changes to the economy presented in the Hunger Games because of them. First of all, he was a capitalist, more specifically a “Laissez Faire” capitalist. This means that he would like for the governing body to have little to no regulation and intervention on the economic structure. He also had a monetarist mindset. This means that the only way he wanted the government to control the economy was through the supply of money. He wanted the government to have a fixed rate at which they would increase the amount of supply of money in the economic system. He thought that this method of controlling the economy would be much more effective than having …show more content…
He thought that this would lead to strong inflation in long term and that this strategy is only effective in the short term. He thought that his theories would not only be beneficial in the short term but also in the long term. Because of this thinking that Milton Friedman had, he would make huge changes to the economic system that the Hunger Games economy currently has. In the Hunger Games, there is a massive amount of control the Capitol has, especially on the 12 districts. The Capitol has complete and total control over the economy and that is where Milton Friedman would probably start on his changes. He would remove the amount of control that the Capitol puts on the district's. He would allow things like free trade and production in the districts. Milton Friedman would also add the currency system that the Capitol has, into the districts as they currently do not have one. He would also probably set up a proper tax system where the citizens would pay the government in currency rather than resources as they do now. Since Friedman was a monetarist, he would only increase the supply of the currency by a fixed amount each year and that is the extent of the control that he would put on the