Milton friedman, capitalism and freedom, 1962. book read answer the

http://books.cat-v.org/economics/capitalism-and-freedom/chapter_02

 

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1. Overall, what is Holmstrom’s (H.) claim about capitalism? (p.138)

2. Explain the difference between the concept of ‘actually existing capitalism’ and ‘ideal capitalism’ (p.138)

3. What is the distinction between private and personal property? (p.139)

4. How does Holmstrom define capitalism?  What does she claim is the virtue of her definition? (p.140)

5. Why does H. believe we need an account of women’s interests? (p.141-3)

6. Why does H. believe we should not rely strictly upon the existing preferences of women to judge what is good for women? (143)

7. What does H. mean by her reference to ‘felt satisfaction’ and ‘objective well being’? (143)

8. How does H. distinguish between ‘strategic gender interests’ and ‘practical gender interests’? (144-5)

9. What does H. say about the concept of efficiency (146-7)

10. Reflect on the importance of the distinction between the short run performance on capitalism and its long run performance.

11. How does H. claim that Friedman is connected to the economic regime put into place in Chile after the overthrow of the Allende government? (149)  If you are unfamiliar with the general facts of this historical event, take a moment to investigate them.

12. What does H. conclude is the relation between capitalism and democracy?  How does this impact the connection between capitalism and freedom?

13. What does Holmstrom mean when she says ‘The most crucial decisions affecting us all are made by capitalists who were not elected? (150) Rule of the rich? (152) Control of the media? (153)

14. What is meant by ‘under capitalism there is no economic democracy.’? (154)

15. What is meant by ‘self-ownership’?

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