Due in 12 hrs!!!!! NO PLAGIARISM!!!!A synthesis helps individuals to identify and understand the main points of each selected source and how they relate to each other. Please analyze and contrast the
Original Article
Milton Friedman's Capitalism and Freedom: A Binary Economic Critique
Robert Ashford
Pages 533-542 | Published online: 08 Dec 2014
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https://doi.org/10.2753/JEI0021-3624440226
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Abstract
This article presents a binary economic critique of Milton Friedman's thesis that a competitive, free market, private enterprise, capitalist system is an essential condition for freedom. After identifying deficiencies in Friedman's understanding of private property and economics, this article explains how a market economy based on Friedman's flawed understanding concentrates economic power in a plutocracy, perpetuates chronic underemployment of labor and capital, and suppresses the freedom of most people. It advances a "binary economic approach" to create a more productive and democratic market system characterized by greater, more sustainable, and more widely-distributed prosperity, economic power, and individual freedom than prevails in any existing capitalist economy.
