Free or Equal Questions

While watching Free or Equal, complete the following statements for

questions 1-9. Use the precise language from the video. Question 10
asks you to analyze a proposal and provide your unique perspective.
You do not need to use the same format as shown below (with boxes).
Use a format which works best for you.
1.

Professor Milton Friedmans research led him to believe in the power of

free markets and economic freedom.

2.

If the government gives everybody the same freedom to work . . .

some will do better than others. The result will be equality of
opportunity, but not equality of outcome.

3.

The free market enables people to go into any industry they want; to
trade with whomever they want; to buy in the cheapest market around
the world; to sell in the dearest market around the world. But most
important of all, if they fail, they bare the cause. If they succeed, they
get the benefit.

4.

In the example of the lead pencil, what conclusion did Professor

Friedman reach in the context of invisible hands?
To promote productive proficiency. To foster harmony and peace
among the peoples of the world.
5. Economists call the constant renewal of the economy Creative
Destruction. If we want to increase our wealth and opportunities, we
have to stop doing old things in old ways and start doing innovative
things in better ways. In other words, we have to be creative.
6. An example of creative destruction was used in the video. What
technology was created? What was destroyed? Why was this new
technology so important?
Created: The Cell Phone
Destroyed: Land Lines, and employees who fixed these land lines.
Important: It allows communication between sellers and buyers for
negotiating and delivery pick up times.

7.

The idea that the economic race should be so arranged that everybody
ends at the finish line at the same time rather than everyone starts at

the beginning line at the same time. This concept raises a very serious
problem for freedom. It is clearly in conflict with it, since it requires
that the freedom of some be restricted in order to provide the greater
benefits to others.
8.

In the last 100 years with relatively free markets, we have created
more wealth than in the 100,000 years before.

9.

As Milton Friedman said, The society that puts equality before

freedom will end up with neither. The society that puts freedom before
equality will end up with a great measure of both.
10. Professor Friedman compares the concept of equality of
opportunity to a race where everyone begins at the starting line at
the same time. In contrast, equality of outcome guarantees that
everyone finishes at the same time. Today, equality of outcome is
referred to as fair shares for all.
If we applied the fair shares for all concept in this class, all students
would receive an average grade of C. This would be accomplished by
taking points away from students earning As and Bs to give to
students earning Ds and Es. Distributing points equally would result in
fair grades for all.

Would you approve of this method in calculating your final

grade? Why or why not?

How would this differ from fair shares for all economically? For
example, whats the difference between a successful student being
required to give up some of his/her hard-earned grade and a successful
person being expected to give more of his/her hard-earned income? If
you support redistribution of income and wealth, shouldnt you also
be willing to redistribute academic grades? After all, many of your
fellow students may not have had the advantages in education and
upbringing that youve had.
Address the above questions in your own words, in a minimum of
3 paragraphs.
I do not think this is fair. I believe everyone deserves a grade based
off of the work they put into it. If our grades were based off of
everyone put together it would be a disaster because people would
never work and slack in school and never strive to be better. I do
understand that people have learning disabilities and people struggle
but that should be all the more reason to push yourself to be better. I
have had a difficult time with school and have had to really push

myself to learn and grow to be a better student.

Economically I believe in the same principles. I dont believe in hand
outs and everything being equal for everyone. Of course I believe we
should help the people who really need it. The problem with that is it
can be difficult to separate the people who need it and those who are
un willing to work for it. Anyone can be successful with hard work and
dedication. I believe thats what separates most people is their
willingness to work and their dedication to what they want to achieve.
In conclusion I believe that everyone has the potential to be
successful. I know some people think everything should be equal and
everyone should have the same but that breeds laziness and poor
work ethic. The people who make it worked very hard and made a lot
of sacrifices to get to where theyre at in their life. I had a professor tell
me once sacrifice now or sacrifice later but sacrifice you will which
means either youll reap the benefits of working hard having the
dedication and desire to be successful but if you arent willing to
sacrifice youll have to face the consequences later.

Reflective Writing
Compose 2-3 paragraphs explaining how completing this assignment
helped you achieve at least two (2) of the SLCC Learning Outcomes:

Learning Outcome #1: Think Critically

This assignment helped me really understand and think more

about our economy and the impact it can have. I never understood
the difference of what people think is right and what really works in
a government. All countries try new and creative ways to try and
improve their economy. They dont always work but they are
always finding new ways to make it that much better. The general
public doesnt know and completely understand all that goes into
trying to think of new and creative ideas.

Learning
Outcome
Knowledge

#2:

Acquire

Substantive

This assignment was very useful to me it helped acquire knowledge

that I would have never known about world economies. I was able to

learn about the differences between an equal market and a free

market and how much time and resource goes into our economy.
Knowing our economy can make the difference in an election and could
even influence how you vote. Most people dont know a whole lot
about this subject and I think this is something everyone needs to look
into and learn more about.