Capitalism and Freedom Test | Final Test - Hard

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This test consists of 5 short answer questions and 1 (of 3) essay topics.

Short Answer Questions

1. What effect has Friedman observed that minimum wage laws have had on poverty?

2. What industry does Friedman use to explain his views on monopoly in labor?

3. What specific social responsibility does Friedman condemn for corporations?

4. What problem did Dicey write about in 1914?

5. What is one argument Friedman gives for public housing?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Friedman articulates one solution for government involvement in education: vouchers. Analyze Friedman's voucher proposal to the current day voucher proposal and decide whether this would be a good solution to improve education.

Essay Topic 2

Friedman published "Capitalism and Freedom" in 1962. It is one of Friedman's attempts to spread free-market ideas to the public at large. The book advocates a number of free-market proposals, many of which, such as floating exchange rates and flat taxes, are implemented across the world today and seem commonplace. However, many of his more radical ideas remain controversial, such as school vouchers, or are totally ignored, like ending occupational licensure. In an essay, examine the historical context of Friedman's work and analyze the major movements of the time that may have influenced his views.

Essay Topic 3

Friedman describes the current international trade arrangements of his time. In Friedman's day, the value of currency was tied to the gold standard. This arrangement was known as the Bretton Woods system. Analyze this currency system. What is it? How did it work? What were the advantages and disadvantages of it? How does it compare with what we have in the present day?

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