WWS 370 Lecture 14: Lecture 14: Friedman
7 Nov 2018
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Assume also that there is fair equality of opportunity underwritten by education for all; and that the other equal liberties are secured. Then it would appear that the resulting distribution of income and the pattern of expectations will tend to satisfy the difference principle. John rawls, a theory of justice, pg. Literally millions of people are involved in providing one another with their daily bread, let alone their yearly automobiles . exchange canbring about coordination without coercion. A working model of a society organized through voluntary exchange is a free private enterprise exchange economy - what we have been calling competitive capitalism. Milton friedman, capitalism and freedom, p. 162. Friedman says it is important to recognize that people have talents and potential, but that they may not be compensated for them in the way you might think.
