Sunday, July 27, 2008

Free to Choose 1980 - Volume 3: Anatomy of a Crisis


 
Topic: What caused the Great Depression, and how future depressions can be avoided

The Great Depression has been popularly viewed as a failure of capitalism. The stock market crash, the failure of the Bank of the United States, loss of personal savings, were visible symbols supporting this belief. As Friedman explains, the real cause was the unseen failure of government policy and action. Yet this crisis resulting from government failure leads to decades of government expansion.

   
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Free to Choose 1980 - Volume 4: From Cradle to Grave


 
Topic: The welfare system's effect on society

The welfare state arises from the attempt to do good with other people's money. Such attempts always fail because: Nobody spends somebody else's money as carefully as his own. Welfare is supply driven. Those spending the money use force to collect it and to insure those receiving it use it for "right" purposes. Good intentions are corrupted by bad means. Friedman visits U.S. and Britain.

   
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Free to Choose 1980 - Volume 5: Created Equal


 
Topic: Is equality attainable or even desirable for society?

The Declaration of Independence says, "all men are created equal." Friedman explains that this did not mean all persons should or will have equal talents or income. Equal opportunity to better one's self, and the right to personally benefit from the gains realized, are consistent with freedom. Equality of results requires force. Taking from some to give to others destroys freedom and removes the incentive for creating new wealth. Friedman visits India, U.S. and Britain.

   
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Free to Choose 1980 - Volume 7: Who Protects the Consumer?


 
Topic: Are Consumer Protection Agencies the best way to protect the consumer?

Various government agencies have been created on the claim that they will protect the consumer. These agencies restrict freedom, stifle beneficial innovation, and become agents for the industries or groups they are intended to regulate. Friedman explains how the apparent chaos of the market place, the competition of many suppliers for business, is the best protection of consumer interests.

   
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Free to Choose 1980 - Volume 8: Who Protects the Worker?


 
Topic: How government protection, minimum wage, and unions affect workers

Unions sometimes protect some workers - their members - but usually at the expense of other workers. Government protects its employees and special groups of workers at the expense of other workers. Both unions and government restrict freedom. Friedman explains how the competition of employers for the talents of workers leads to the highest wages and best working conditions.

   
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Free to Choose 1980 - Volume 9: How to Cure Inflation


 
Topic: Why Politicians Favor Inflation and How to Prevent It

Inflation results when the amount of money printed or coined increases faster than the creation of new goods and services. Money is a "token" of the wealth of a nation. If more tokens are created than new wealth, it takes more tokens to buy the same goods. Friedman explains why politicians like inflation, and why wage and price controls are not solutions to the problem. Friedman visits Japan, U.S. and Britain.

   
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