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Milton Friedman - Paper

Milton Friedman


is one of this century's most distinguished and influential economists. He is a Nobel Laureate, and has been a teacher, presidential advisor, and Newsweek columnist. His 1962 book Capitalism and Freedom is a classic examination of capitalism as both an economic system and as a necessary foundation for political freedom. The following quote is from one of his bestsellers “Free to Choose” (co-authored with his wife Rose) lays out a clear and lively examination of economics and politics.
"Fortunately, we are waking up. We are again recognizing the dangers of an overgoverned society, coming to understand that good objectives can be perverted by bad means, that reliance on the freedom of ...

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charitable contributions can be deducted for income tax purposes.
3. Corporations are spending the money of their stockholders without their permission.
4. A manager is responsible only to his employers and not the community.
All of the above may sound bad, but the intentions behind them are not entirely falsified.
It would be selfish of us to assume that a corporation would spend a considerable amount of their funds (profits/returns) on their community without expecting some kind of a positive feedback of any form. We as individuals should not expect anything in return when we help someone because it is not the right thing to do. The case with the corporation is entirely different. It might be an individual “entity” in the eyes of the law, but what applies to us as individuals does not apply to it. All the activities are done by a group of people and not one individual. This group of people has been elected and/or selected by another group (stockholders) who have invested ...

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PAPER DETAILS
Added: 11/9/2007 03:17:41 PM
Category: Economics
Type: Free Paper
Words: 1162
Pages: 5

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