Trang Tran

Joe Howell
HIST 1740
June 13, 2015
Free or Equal
1. Professor Milton Friedmans research led him to believe in the
power of _____________ and _____________.
Answer #1: Free markets
Answer #2: Economic freedom
2. If the government gives everybody the same freedom to work
some will do better than others. The result will be ___________,
but not _____________.
Answer #1: Equality of opportunity
Answer #2: Equality of outcome
3. The free market enables people to go into any industry they
want; to trade with whomever they want; to buy in the cheapest
market around the world; to sell in the dearest market around
the world. But most important of all, if they fail, _____________. If
they succeed, ____________.
Answer #1: They bear the cost
Answer #2: They get the benefits
4. In the example of the lead pencil, what conclusion did Professor
Friedman reach in the context of invisible hands?
Conclusion: Invisible hands are all around. Every purchase is a
signal for
demands.
5. Economists call the constant renewal of the economy
_____________. If we want to increase our wealth and
opportunities, we have to stop doing old things in ______________
and start doing innovative things in ______________. In other
words, we have to be ________________.
Answer #1: Creative destruction
Answer #2: Old ways
Answer #3: Better ways

Answer #4: Creative

6. An example of creative destruction was used in the video.
What technology was created? What was destroyed? Why was
this new technology so important?
Created: Cellphones
Destroyed: Landlines and related jobs
Why important: It is necessary for Economic Development
7. The idea that the economic race should be so arranged that
everybody ends at the finish line at the same time rather than
everyone starts at the beginning line at the same time. This
concept raises a very serious problem for freedom. It is clearly in
conflict with it, since it requires that the freedom of some b
____________ in order to provide the _____________________.
Answer #1: Restricted
Answer #2: Greater benefit to others
8. In the last 100 years with relatively free markets, we have
created ___________ than in the ____________ years before.
Answer #1: More wealth
Answer #2: 100,000
9. As Milton Friedman said, The society that puts equality before
freedom will _____________. The society that puts freedom before
equality will end up with a _______________.
Answer #1: Will end up with neither
Answer #2: Great measure of both
10.
Professor Friedman compares the concept of equality of
opportunity to a race where everyone begins at the starting line
at the same time. In contrast, equality of outcome guarantees
that everyone finishes at the same time. Today, equality of
outcome is referred to as fair shares for all.
If we applied the fair shares for all concept in this class, all
students would receive an average grade of C. This would be
accomplished by taking points away from students earning As
and Bs to give to students earning Ds and Es. Distributing
points equally would result in fair grades for all.

Would you approve of this method in calculating your

final grade? Why or why not?
How would this differ from fair shares for all
economically? For example, whats the difference
between a successful student being required to give up
some of his/her hard-earned grade and a successful
person being expected to give more of his/her hardearned income? If you support redistribution of income
and wealth, shouldnt you also be willing to redistribute
academic grades? After all, many of your fellow students
may not have had the advantages in education and
upbringing that youve had.
I do not agree with this method because I put in a lot of hard
work for my grade. If another person wants a higher grade, they
have to put in the effort for it. I do not think that it is right for
those who actually work hard and diligently to just have it taken
away by someone who has completely slacked off. There would
be no motivation for people to excel and raise the bar, and
eventually this will lead to everyone underachieving. "Fair share
for all" is really not fair at all and sets the class up for failure in
the real world. Students should work hard for the grades they
desire.
"Fair shares for all" is a horrible concept. A person who puts in
hard work should be entitled to the rewards that they have
earned. If a person worked hard enough to buy a home, by all
means, they should be allowed to use their hard earned money
to purchase a home.
Finally, everyone deserves to be treated as equals. Many
workplaces say that they do not discriminate when it comes to
their hiring practices, but in reality many of them do. As an
example, a man named Jose of whom I have read about had put
in numerous job applications without any reply. On a hunch, Jose
decided to omit the s from his name changing his name from
"Jose" to "Joe" on his applications. After this change, potential
employers began to respond. Ignoring race or gender, everyone
should be given a fair chance.
Reflective Writing
Compose 2-3 paragraphs explaining how completing this
assignment helped you achieve at least 2 of the SLCC
Learning Outcomes:

Thinking Critically and Creatively:

This assignment helped me understand that thinking critically
and creatively is important to real life scenarios. In the video Free
or Equal, Friedman says that in order to stay wealthy and have
many opportunities, you need to be creative. I agree with this
because without creativity, you just blend in with everyone else
and eventually you set yourself up for failure.
Develop Computer and Information Literacy:
These days, technology is everywhere. With new computers and
software constantly emerging, it is very important to keep up and
always stay sharp with your computer skills. Many employers
require a potential employee and even current employees to be
adept with certain programs such as Microsoft Word, Excel,
PowerPoint, and Access. Many employers are constantly seeking
individuals who are computer savvy for their managerial and
even HR positions. Developing computer and information literacy
is definitely important so that you may thrive in this world which
is filled with information technology.