Brandon Denker Professor Howell Econ 1740 19 November 2013 Free to Choose Responses 1.

According to the authors Adam Smith wrote about the three essential roles of government. What are the (3) three roles of government? What is the fourth role of government that the authors added to Smiths list? Role 1: The duty of protecting society from violence and invasion from other independent societies. Role : The Duty of protecting, to protect a society as far as possible. The duty is to protect every member of society. An exact administration of ustice.! Role 3:A valid duty of a government directed to preserving and strengthening a free society" but it can also be interpreted to ustify unlimited extensions of government po#er. To erect and maintain! a public #or$! though it may not be in the interest of any individual. Role !% The duty to protect members of the community #ho cannot be regarded as responsible! individuals.
. What are the four arguments in favor of tariffs? Argument 1: The first argument is to protect against foreign trade for &ational 'ecurity Argument : The second is the infant industry.! (hich protects small companies of #hich #ould fail unless other#ise protected. Argument 3: The third argument is beggar thy neighbor,! in #hich a country attempts to ma$e its economy better, in #ays that ma$e other countries economies #orse. Argument !: Free trade #ould be fine if all other countries practiced free trade but that so long as they do not, the )nited 'tates cannot afford to.

3. "o solve the #roblems of welfare #rograms$ the others #ro#osed ( ) essential com#onents of reform. What are the%? &om#onent 1: Replace the current #elfare system by removing the ragbag! of specific programs #ith a single comprehensive program of income supplements in cash* negative income tax lin$ed to the positive income tax. &om#onent : )n#ind 'ocial 'ecurity #hile meeting present commitments and gradually re+uiring people to ma$e their o#n arrangements for their o#n retirement.

!."he 'riedman(s discuss countries)governments that e*#erienced h%#erinflation at various times in histor%? +ist the countries)governments that were affected during the historical #eriods below: 1. 1,-.(s. .After World War 1. 3.After World War !. 1/0.(s 1. The confederate )nited 'tates 1. Russia .,ermany 1. China . -ra.il 1. Chile . Argentina

1. "he authors wrote that libert% is enhanced when government #romotes #ersonal e2ualit% or e2ualit% of o##ortunit%. Alternativel%$ when the government #romotes 3fair shares for all$4 libert% is reduced. 5sing the 3fair shares for all4 conce#t to calculate class grades$ all students would receive an average grade (&6). "his would be accom#lished b% ta7ing #oints awa% from students earning A(s 8 9(s to give to students earning :(s 8 ;(s. :istributing #oints e2uall% would result in 3fair grades for all.4 Would %ou a##rove of this method in calculating %our final grade? Wh% or wh% not? <ow would this differ from 3fair shares for all4 economicall%? 'or e*am#le$ what(s the difference between a successful student being re2uired to give u# some of his)her hard=earned grade 8 a successful business#erson being e*#ected to give more of his)her hard=earned income? >f %ou su##ort 3redistribution of income 8 wealth$4 shouldn(t %ou also be willing to redistribute academic grades? After all$ man% of %our fellow students ma% not have had the advantages in education 8 u#bringing that %ou(ve had. >n %our own words$ e*#lain %our thoughts in a minimum of 3 #aragra#hs.

/ #ould not approve of this policy. / have no reason to #or$ as hard as / do to earn a higher grade because no matter #hat / $no# / #ill get a C, it #ill be average. 'ure through this policy a median is established. -ut that is not #hat / #ant. / #ant to earn the grade that / deserve. / #ant to have the opportunity to achieve the as high as possible and / am not afraid to fail. This does not change my opinion in ho# / see things economically. / am a firm believer in competition. /n the )nited 'tates competition is #hat made us great, it is our foundation as a country. Competition pushes people to better themselves, it creates separation and understanding. /f everyone is considered the same then nothing #ill ever change or get better. 0ur country #as successful because #e did not implement the fair shares all! concept. The bottom line in my opinion is fair shares all! does not #or$ for the )nited 'tates. /t has never been implemented and for that is a reason our country has not had the economic do#nfalls that others have had. /t is also the reason that #hen our economy has slipped, the people of the )nited 'tates have been able to #or$ hard to get it bac$ on trac$. (e cannot decide to go a#ay from #hat originally made us best. Competition, innovation, failure, and success. Reflective Writing: After reading free to choose my eyes have been opened #ider than ever before. The boo$ has made me become civically engaged and caused me to thin$ critically about our current economic situation. As / read the boo$ / sa# so many concepts that the Friedman1s tal$ed about that are very similar and can be applied to things #e deal #ith today. / trust in #hat the Friedman1s are saying. / believe #e are slipping as a country and as an economic po#er. 0ur political leaders are failing us and it is terrifying. Friedman has instilled in me to loo$ closer at our economic decisions. Thin$ about the possible outcome of #hat is being presented. 2ave #e seen this before3 Can #e be better3 (ill this decision cripple us3 For ho# long3 / can say that / am definitely more civically engaged after reading this boo$ and ta$ing this class for that matter. / loo$ closer at #hat is going on in our country and also the #orld. / believe you must. The #orld is changing everyday, and changing fast. The Friedman1s #rote this boo$ to guide us. After reading this boo$ / $no# / need to be involved in the change of our country and our #orld. /f there is nothing / can directly do about it, at least / #ill have some understanding of #hy it is happening and #hat positive or negative result can occur.