Kori Sandberg

ECON 1740 E-portfolio assignment

Free to choose q estions! 1" #ccording to the a thors$ #dam Smith %rote the three &'( essential roles of go)ernment" *hat are the three &'( roles of go)ernment+ *hat is the fo rth role of go)ernment that the a thors added to #dam smith,s list+ -ole .1" /he first role of go)ernment is to protect indi)id als in societ0 from coercion" -ole .1" /he second role of go)ernment is to protect indi)id als from in2 stice or oppression of e)er0 member$ or d t0 of establishing an e3cact administration of 2 stice" -ole .'" /he third role of go)ernment is to preser)e and strengthen a free societ0" -ole .4" /he final role of go)ernment added b0 #dam Smith is the d t0 to protect members of the comm nit0 %ho cannot be reg arded as 4responsible5 indi)id als" 1" *hat are the fo r &4( arg ments in fa)or of terrifs+ #rg #rg #rg #rg ment .1" /he National Sec rit0 #rg ment ment .1" /he 46nfant 6nd str05 #rg ment" ment .'" /he 4beggar-th0-neighbor5 #rg ment" ment .4" /he Free /rade #rg ment b0 #le3ander 7amilton

'" /o sol)e the problems of %elfare programs$ the a thors proposed t%o &1( essential components of reform" *hat are the0+ Component .1" -eform the present %elfare s0stem b0 replacing the ragbag of specific programs %ith a single comprehensi)e program of income s pplements in cash" Component .1" 8n%ind the Social Sec rit0 %hile meeting present commitments and grad all0 req iring people to ma9e their o%n arrangements for their o%n retirement" 4" /he Friedmans disc ss co ntries:go)ernments that e3perienced h0perinflation at )ario s times in histor0" ;ist the co ntries:go)ernments that %ere affected d ring the historical periods belo%" 1<=0,s! # strailia #fter **1! - ssia$ >erman0 #fter **1! China$ ?ra@il 1A70,s! Chile$ #rgentina

B" /he a thors %rote that libert0 is enhanced %hen go)ernment promotes personal eq alit0 of opport nit0" #lternati)el0$ %hen the go)ernement promotes 4fair shares for all5$ libert0 is red ced" 8sing the 4fair shares for all5 concept to calc late class grades$ all st dents %o ld recei)e an a)erage grade &cC(" /his %o ld be accomplished b0 ta9ing points a%a0 from st dents earning #,s D ?,s to gi)e to st dents earning E,s D E,s" Eistrib ting points eq all0 %o ld res lt in 4fair shades for all5" *o ld 0o appro)e of this method in calc lating 0o r final grade+ *h0 or %h0 not+ 7o% %o ld this differ from the 4fair shares for all5 economicall0+ 6n 0o r o%n %ords$ e3plain 0o r tho ghts in a minim m of three &'( paragraphs" /o me$ this is a hard anal0sis$ of co rse 6 don,t agree %ith the 4fair shares for all5 concept %hen it comes to academic grades" ?eca se 6 dedicate m0self to m0 st dies and ta9e pride in the %or9 6 ha)e done$ 6 9no% for a fact that not e)er0 st dent st dies hard and ta9e their ed cation as serio sl0 as 6 do" 6f 6 do C %or9$ 6 deser)e a C grade$ b t being an #? st dent$ m0 grade %o ld definitel0 be affected negati)el0 b0 the 4fair shares for all5 concept being sed in school" *hen it comes to the 4fair shares for all5 concept economicall0$ 6 feel the same %a0" 6 do belie)e in the redistrib tion of income and %ealh$ ho%e)er$ 6 don,t belie)e hard %or9ing:contrib ting members of societ0 sho ld ha)e to s rrender their hard earned %ages either" 6 do feel that %e all can contrib te to eachother in some form or another" /here are so man0 reso rces and options a)ailable to str ggling st dents$ as %ell as for people e3periencing economic hardships" ?eing a single mother recei)ing disco nted ins rance from the state and state assistance 6 am eternall0 gratef l for these options a)ailable to me" *itho t these reso rces 6 %o ldn,t be able to b 0 groceries of pers e a f rther ed cation" #s for st dents str ggling academicall0$ there are people to help and ans%er an0 q estions$ the st dent 2 st has to ha)e the %ill and dri)e to find the help"

Reflective Writing: 6 ha)e ne)er read a boo9 li9e Free to Choose$ 6 fo nd the %riting to be criticall0 engaging and interestingl0 informati)e" 6 appreciated the panoramic )ie% from the a thor abo t all the things that effect o r econom0 and %hat possible sol tions co ld fi3:pre)ent f rther damage" Of the S;CC o tcomes 6 %o ld sa0 this boo9 helped me thin9 criticall0$ thro gh identif0ing %ith some of the concepts in the boo9$ as %ell as aq ire s bstantati)e 9no%ledge of things 6 ha)e ne)er considered or 9ne% abo t" 6 ha)e also been able to comm nicate more effecti)el0 abo t the topics in this boo9 %hen it comes to economic con)ersations among m0 friends and famil0$ 6 ha)e reffered to this boo9 m ltiple times and ho% %onderf l the 8S %o ld be if %e co ld tr l0 adopt the free econom0 concepts"

/hro gho t m0 ed cation 6 ha)e learned there are some things that are absol tel0 cr tial to 9no% to ha)e a s ccessf l academic$ or e)en normal$ life" /he concepts in Free /o Choose are one of those specificall0 that 6 am gratef l to ha)e read and learned abo t"