ECONOMIC FREEDOM for the FREE: HOW NEOLIBERALISM IS LEADING to GREATER INCOME INEQUALITY WITHIN COUNTRIES a Dissertation Submit
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Freedom, Democracy and Economic Welfare
copyright The Fraser Institute copyright The Fraser Institute LORD BAUER RAMON DIAZ MILTON FRIEDMAN RAYMOND D GASTIL TIBOR R MACHAN DOUGLASS NORTH SVETOZAR PEJOVICH ALVIN RABUSHKA INGEMAR STAHL LINDSAY M WRIGHT PROCEEDINGS OF AN INTERNATIONAL EDITED BY MICHAEL A WALKER SYMPOSIUM copyright The Fraser Institute Proceedings of an International Symposium on Economic, Political, and Civil Freedom, held October 5-8, 1986 in Napa Valley, California. This event is part of the programme of Liberty Fund Inc., under the direction of its President, Dr W. W. Hill. This Symposium was managed by The Fraser Institute and organized by its Director, Dr. Michael A. Walker. Canadian Cataloguing in Publication Data Main entry under title: Freedom, democracy and economic welfare Symposium held Oct 5-8, 1986 in Napa Valley, Calif. Includes bibliographical references. ISBN 0-88975-116-1 1.Capitalism – Congresses. 2. Liberty – Congresses. 3. Economics – Political aspects – Congresses. 4. Economics – Philosophy – Congresses. I. Walker, Michael 1945 – II.Fraser Institute (Vancouver, BC.) HB501.F74 1988 330.12’2 C88-091102-6 Copyright 1988 by the Fraser Institute. All rights reserved. No part of this book may be reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in critical arti- cles and reviews. Printed in Canada copyright The Fraser Institute CONTENTS Participants / vii Preface, Michael A. Walker / ix PART ONE POLITICAL, ECONOMIC AND CIVIL FREEDOMS: A CONCEPTUAL, HISTORICAL AND STATISTICAL OVERVIEW 1 INSTITUTIONS, ECONOMIC GROWTH AND FREEDOM: AN HISTORICAL INTRODUCTION, Douglass C. North / 3 Discussion / 26 2 CAPITALISM AND FREEDOM, Milton Friedman / 47 Discussion / 59 3 THE STATE OF THE WORLD POLITICAL AND ECONOMIC FREEDOM, Raymond D. -
The Budgetary Effects of the Raise the Wage Act of 2021 February 2021
The Budgetary Effects of the Raise the Wage Act of 2021 FEBRUARY 2021 If enacted at the end of March 2021, the Raise the Wage Act of 2021 (S. 53, as introduced on January 26, 2021) would raise the federal minimum wage, in annual increments, to $15 per hour by June 2025 and then adjust it to increase at the same rate as median hourly wages. In this report, the Congressional Budget Office estimates the bill’s effects on the federal budget. The cumulative budget deficit over the 2021–2031 period would increase by $54 billion. Increases in annual deficits would be smaller before 2025, as the minimum-wage increases were being phased in, than in later years. Higher prices for goods and services—stemming from the higher wages of workers paid at or near the minimum wage, such as those providing long-term health care—would contribute to increases in federal spending. Changes in employment and in the distribution of income would increase spending for some programs (such as unemployment compensation), reduce spending for others (such as nutrition programs), and boost federal revenues (on net). Those estimates are consistent with CBO’s conventional approach to estimating the costs of legislation. In particular, they incorporate the assumption that nominal gross domestic product (GDP) would be unchanged. As a result, total income is roughly unchanged. Also, the deficit estimate presented above does not include increases in net outlays for interest on federal debt (as projected under current law) that would stem from the estimated effects of higher interest rates and changes in inflation under the bill. -
Social Sciences: Achievements and Prospects Journal 3(11), 2019
Social Sciences: Achievements and Prospects Journal 3(11), 2019 Contents lists available at ScienceCite Index Social Sciences: Achievements and Prospects Journal journal homepage: http://scopuseu.com/scopus/index.php/ssap/index What are the differences between the study of Micro Economics and Macro Economics and how are they interrelated with regard to the drafting of economic policies to remain current and relevant to the global economic environment Azizjon Akromov 1, Mushtariybegim Azlarova 2, Bobur Mamataliev 2, Azimkhon Koriev 2 1 Student MDIST 2 Students Tashkent State University Economic ARTICLE INFO ABSTRACT Article history: As economics is mostly known for being a social science, studying production, Received consumption, distribution of goods and services, its primary goal is to care about Accepted wellbeing of its society, which includes firms, people, and so forth. The study of Available online economics mainly consists of its two crucial components, which are Keywords: microeconomics and macroeconomics. Together these main parts of economics are concerned with both private and public sector issues including, inflation, economic Macroeconomics, growth, choices, demand and supply, production, income, unemployment and many microeconomics, other aspects. It is already mentioned that wellbeing of society would be indicators, production, established when government, while making economics policies, assume all factors consumers, companies, including those people who are employed or unemployed, so that no one gets hurt economics, government or suffer in the end. When it comes to making economic decisions and policies, governments should take into consideration that decisions made on a macro level has huge impact on micro and the same with micro, firms, households, individuals’ behaviors and choices come as aggregate in total, then turns into macro level, which triggers the introduction of some policies. -
Unit 24 Individualism and Communitarianism
Gandhism (Dharma, UNIT 24 INDIVIDUALISM AND Swaraj, Sarvodaya and COMMUNITARIANISM Satyagraha) Structure 24.0 Objectives 24.1 Introduction 24.1.1 Individualist Versus Communitarian Position 24.1.2 Relevance in the Indian Context 24.2 Meaning and Development of Individualism 24.2.1 Atomism and Methodological Individualism 24.2.2 Views of Contractualists Including John Rawls 24.2.3 Views of Utilitarians 24.3 The Individualist Conception of the Self 24.4 The Individualist Theory of the Nature and Functions of the State 24.4.1 Functions of State and Government 24.5 Communitarianism: An Introduction 24.6 The Communitarian Critique of the Individualist Conception of the Self 24.6.1 Two Main Limitations of Individualism 24.7 The Communitarian Critique of the Idea of State Neutrality 24.8 Let Us Sum Up 24.9 Some Useful References 24.10 Answers to Check Your Progress Exercises 24.0 OBJECTIVES Our objective in this unit is to understand and assess one of the major ongoing debates in contemporary political theory; namely, the debate between liberal individualism and communitarianism. After studying this unit, you should be able to: • Understand the individualistic theory of the nature and functions of state; • Describe and assess the communitarian critique of liberal individualism; • Compare the major theoretical positions of individualism and communitarianism; and • Understand the relevance of this debate to contemporary political theory and practice. 24.1 INTRODUCTION In this unit, you will be introduced to one of the central debates in contemporary political theory, namely, the debate between liberal individualism and communitarianism. The debate between individualism and communitarianism developed and became central to political theory during the 1980s with the publication of Michael Sandel’s Liberalism and the Limits of Justice (1982). -
Working Paper No. 39, Neoliberalism As a Variant of Capitalism
Portland State University PDXScholar Working Papers in Economics Economics 12-12-2019 Working Paper No. 39, Neoliberalism as a Variant of Capitalism Justin Pilarski Portland State University Follow this and additional works at: https://pdxscholar.library.pdx.edu/econ_workingpapers Part of the Economic History Commons, and the Economic Theory Commons Let us know how access to this document benefits ou.y Citation Details Pilarski, Justin "Neoliberalism as a Variant of Capitalism, Working Paper No. 39", Portland State University Economics Working Papers. 39. (12 December 2019) i + 14 pages. This Working Paper is brought to you for free and open access. It has been accepted for inclusion in Working Papers in Economics by an authorized administrator of PDXScholar. Please contact us if we can make this document more accessible: [email protected]. Neoliberalism as a Variant of Capitalism Working Paper No. 39 Authored by: Justin Pilarski A Contribution to the Working Papers of the Department of Economics, Portland State University Submitted for: EC445 “Comparative Economic Systems” 12 December 2019; i + 14 pages Prepared for Professor John Hall Abstract: Economic systems evolve over time in adapting to the needs and deficiency of the system. This inquiry seeks to establish Neoliberalism as—in the language of Barry Clark—a variant of capitalism that evolved out of retaliation of the regulated variant of capitalism. We utilize Barry Clark’s work on the evolution of economic systems in establishing the pattern of adaptation in American capitalism. Then we establish and analyze the neoliberal variant of capitalism in how this evolution retaliated against the existing system rather than adapting the preceding variant. -
THE FREE-MARKET WELFARE STATE: Preserving Dynamism in a Volatile World
Policy Essay THE FREE-MARKET WELFARE STATE: Preserving Dynamism in a Volatile World Samuel Hammond1 Poverty and Welfare Policy Analyst Niskanen Center May 2018 INTRODUCTION welfare state” directly depresses the vote for reac- tionary political parties.3 Conversely, I argue that he perennial gale of creative destruc- the contemporary rise of anti-market populism in tion…” wrote the economist Joseph America should be taken as an indictment of our in- 4 Schumpeter, “…is the essential fact of adequate social-insurance system, and a refutation “T of the prevailing “small government” view that reg- capitalism.” For new industries to rise and flourish, old industries must fail. Yet creative destruction is ulation and social spending are equally corrosive to a process that is rarely—if ever—politically neu- economic freedom. The universal welfare state, far tral; even one-off economic shocks can have lasting from being at odds with innovation and economic political-economic consequences. From his vantage freedom, may end up being their ultimate guaran- point in 1942, Schumpeter believed that capitalism tor. would become the ultimate victim of its own suc- The fallout from China’s entry to the World Trade cess, inspiring reactionary and populist movements Organization (WTO) in 2001 is a clear case in against its destructive side that would inadvertently point. Cheaper imports benefited millions of Amer- strangle any potential for future creativity.2 icans through lower consumer prices. At the same This paper argues that the countries that have time, Chinese import competition destroyed nearly eluded Schumpeter’s dreary prediction have done two million jobs in manufacturing and associated 5 so by combining free-markets with robust systems services—a classic case of creative destruction. -
Macroeconomics Course Outline and Syllabus
City University of New York (CUNY) CUNY Academic Works Open Educational Resources New York City College of Technology 2018 Macroeconomics Course Outline and Syllabus Sean P. MacDonald CUNY New York City College of Technology How does access to this work benefit ou?y Let us know! More information about this work at: https://academicworks.cuny.edu/ny_oers/8 Discover additional works at: https://academicworks.cuny.edu This work is made publicly available by the City University of New York (CUNY). Contact: [email protected] COURSE OUTLINE FOR ECON 1101 – MACROECONOMICS New York City College of Technology Social Science Department COURSE CODE: 1101 TITLE: Macroeconomics Class Hours: 3, Credits: 3 COURSE DESCRIPTION: Fundamental economic ideas and the operation of the economy on a national scale. Production, distribution and consumption of goods and services, the exchange process, the role of government, the national income and its distribution, GDP, consumption function, savings function, investment spending, the multiplier principle and the influence of government spending on income and output. Analysis of monetary policy, including the banking system and the Federal Reserve System. COURSE PREREQUISITE: CUNY proficiency in reading and writing RECOMMENDED TEXTBOOK and MATERIALS* Krugman and Wells, Eds., Macroeconomics 3rd. ed, Worth Publishers, 2012 Leeds, Michael A., von Allmen, Peter and Schiming, Richard C., Macroeconomics, Pearson Education, Inc., 2006 Supplemental Reading (optional, but informative): Krugman, Paul, End This Depression -
The Relationship Between Capitalism and Democracy
The Relationship Between Capitalism And Democracy Item Type text; Electronic Thesis Authors Petkovic, Aleksandra Evelyn Publisher The University of Arizona. Rights Copyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author. Download date 01/10/2021 12:57:19 Item License http://rightsstatements.org/vocab/InC/1.0/ Link to Item http://hdl.handle.net/10150/625122 THE RELATIONSHIP BETWEEN CAPITALISM AND DEMOCRACY By ALEKSANDRA EVELYN PETKOVIC ____________________ A Thesis Submitted to The Honors College In Partial Fulfillment of the Bachelors degree With Honors in Philosophy, Politics, Economics, and Law THE UNIVERSITY OF ARIZONA M A Y 2 0 1 7 Approved by: ____________________________ Dr. Thomas Christiano Department of Philosophy Abstract This paper examines the very complex relationship between capitalism and democracy. While it appears that capitalism provides some necessary element for a democracy, a problem of political inequality and a possible violation of liberty can be observed in many democratic countries. I argue that this political inequality and threat to liberty are fueled by capitalism. I will analyze the ways in which capitalism works against democratic aims. This is done through first illustrating what my accepted conception of democracy is. I then continue to depict how the various problems with capitalism that I describe violate this conception of democracy. This leads me to my conclusion that while capitalism is necessary for a democracy to reach a certain needed level of independence from the state, capitalism simultaneously limits a democracy from reaching its full potential. -
Chapter 4 Freedom and Progress
Chapter 4 Freedom and Progress The best road to progress is freedom’s road. John F. Kennedy The only freedom which deserves the name, is that of pursuing our own good in our own way, so long as we do not attempt to deprive others of theirs, or impeded their efforts to obtain it. John Stuart Mill To cull the inestimable benefits assured by freedom of the press, it is necessary to put up with the inevitable evils springing therefrom. Alexis de Tocqueville Freedom is necessary to generate progress; people also value freedom as an important component of progress. This chapter will contend that both propositions are correct. Without liberty, there will be little or no progress; most people will consider an expansion in freedom as progress. Neither proposition would win universal acceptance. Some would argue that a totalitarian state can marshal the resources to generate economic growth. Many will contend that too much liberty induces libertine behavior and is destructive of society, peace, and the family. For better or worse, the record shows that freedom has increased throughout the world over the last few centuries and especially over the last few decades. There are of course many examples of non-free, totalitarian, ruthless government on the globe, but their number has decreased and now represents a smaller proportion of the world’s population. Perhaps this growth of freedom is partially responsible for the breakdown of the family and the rise in crime, described in the previous chapter. Dictators do tolerate less crime and are often very repressive of deviant sexual behavior, but, as the previous chapter reported, divorce and illegitimacy are more connected with improved income of women than with a permissive society. -
Economic Freedom” and Economic Growth: Questioning the Claim That Freer Markets Make Societies More Prosperous
Munich Personal RePEc Archive “Economic freedom” and economic growth: questioning the claim that freer markets make societies more prosperous Cohen, Joseph N City University of New York, Queens College 27 September 2011 Online at https://mpra.ub.uni-muenchen.de/33758/ MPRA Paper No. 33758, posted 27 Sep 2011 18:38 UTC “Economic Freedom” and Economic Growth: Questioning the Claim that Freer Markets Make Societies More Prosperous Joseph Nathan Cohen Department of Sociology City University of New York, Queens College 65-30 Kissena Blvd. Flushing, New York 11367 [email protected] Abstract A conventional reading of economic history implies that free market reforms rescued the world’s economies from stagnancy during the 1970s and 1980s. I reexamine a well-established econometric literature linking economic freedom to growth, and argue that their positive findings hinge on two problems: conceptual conflation and ahistoricity. When these criticisms are taken seriously, a very different view of the historical record emerges. There does not appear to be enduring relationship between economic liberalism and growth. Much of the observed relationship between these two variables involves a one-shot transition to freer markets around the Cold War’s end. Several concurrent changes took place in this historical context, and it is hasty to conclude that it was market liberalization alone that produced the economic turnaround of the 1990s and early-2000s. I also question market fundamentalists’ view that all forms of liberalization are helpful, arguing that the data show little to no benefit from reforms that did not attract foreign investment. Word Count: 6,698 (excl. -
Neoliberalism, Higher Education, and the Knowledge Economy: from The
This article was downloaded by: On: 28 September 2010 Access details: Access Details: Free Access Publisher Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37- 41 Mortimer Street, London W1T 3JH, UK Journal of Education Policy Publication details, including instructions for authors and subscription information: http://www.informaworld.com/smpp/title~content=t713693402 Neoliberalism, higher education and the knowledge economy: from the free market to knowledge capitalism Mark Olssena; Michael A. Petersb a University of Surrey, UK b University of Glasgow, UK To cite this Article Olssen, Mark and Peters, Michael A.(2005) 'Neoliberalism, higher education and the knowledge economy: from the free market to knowledge capitalism', Journal of Education Policy, 20: 3, 313 — 345 To link to this Article: DOI: 10.1080/02680930500108718 URL: http://dx.doi.org/10.1080/02680930500108718 PLEASE SCROLL DOWN FOR ARTICLE Full terms and conditions of use: http://www.informaworld.com/terms-and-conditions-of-access.pdf This article may be used for research, teaching and private study purposes. Any substantial or systematic reproduction, re-distribution, re-selling, loan or sub-licensing, systematic supply or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material. -
Free to Choose Video Tape Collection
http://oac.cdlib.org/findaid/ark:/13030/kt1n39r38j No online items Inventory to the Free to Choose video tape collection Finding aid prepared by Natasha Porfirenko Hoover Institution Library and Archives © 2008 434 Galvez Mall Stanford University Stanford, CA 94305-6003 [email protected] URL: http://www.hoover.org/library-and-archives Inventory to the Free to Choose 80201 1 video tape collection Title: Free to Choose video tape collection Date (inclusive): 1977-1987 Collection Number: 80201 Contributing Institution: Hoover Institution Library and Archives Language of Material: English Physical Description: 10 manuscript boxes, 10 motion picture film reels, 42 videoreels(26.6 Linear Feet) Abstract: Motion picture film, video tapes, and film strips of the television series Free to Choose, featuring Milton Friedman and relating to laissez-faire economics, produced in 1980 by Penn Communications and television station WQLN in Erie, Pennsylvania. Includes commercial and master film copies, unedited film, and correspondence, memoranda, and legal agreements dated from 1977 to 1987 relating to production of the series. Digitized copies of many of the sound and video recordings in this collection, as well as some of Friedman's writings, are available at http://miltonfriedman.hoover.org . Creator: Friedman, Milton, 1912-2006 Creator: Penn Communications Creator: WQLN (Television station : Erie, Pa.) Hoover Institution Library & Archives Access The collection is open for research; materials must be requested at least two business days in advance of intended use. Publication Rights For copyright status, please contact the Hoover Institution Library & Archives. Acquisition Information Acquired by the Hoover Institution Library & Archives in 1980, with increments received in 1988 and 1989.