Free or Equal Questions

While watching Free or Equal, answer the questions as follows: Fill-in-the-blank

questions - Use the precise language from the video. Short answer questions Summarize the concepts in your own words. Question 10 - Analyze the proposal &
provide your unique perspective.You do not need to use the same format as shown
below (with boxes). Use a format which works best for you.
1. If the government gives everybody the same freedom to work and reap the
rewards, some will do better than others. The result will be ____________________, but
not ____________________.
Answer #1 equality of opportunity
Answer #2 equality of outcome
2. Immigrants who arrived in the late-1800s/early-1900s found that America was
truly a land of opportunity.
Describe the factors these immigrants encountered which helped them thrive.
Factors: they arrived to a free market. Few rules and regulations, few government
programs to turn too. No licenses, permits, and no red tape to restrict them.
3. Professor Friedman referred to Hong Kong as the freest market in the world.
Summarize how he described
The free market.
Free Market- Go into any industry they want to, trade with whoever they want. To
buy in the cheapest
market around the world. Most importantly, if they
fail, they bear the cost. If they succeed, they get the benefit.
4. Human and political freedom has never existed (and cannot exist) without a large
measure of__________________. Those of us who have been so fortunate as to have
been born in a free society tend to___________________, to regard it as the
____________________. It is not. It is a rare and precious thing.
Answer #1 economic freedom
Answer #2 take freedom for granted
Answer #3 natural state of man kind
5. Explain how the lead pencil & the smart phone are examples of invisible hands.
Invisible Hands: This is a term used when many people in the world work together
to make a single thing. These people may not even know they are benefiting from
one another. Like when he explained about the pencil. It requires a saw to cut the
tree, steel to make the saw, etc. the same goes for smart phones.
6. Explain the concept of creative destruction as described in the Free or Equal
video.

Creative Destruction: When only the flexible and adaptable survive, it means other
businesses fail.
7. The idea that the economic race should be so arranged that everybody ends at
the finish line at the same time, rather than that everyone starts at the beginning
line at the same time. This concept raises a very serious problem for _______. It is
clearly in conflict with it, since it requires that the freedom of some __________, in
order to provide the ________________________.
Answer #1 Freedom
Answer #2 be restricted
Answer #3 greater benefits to others
8. Our economic system gave us Henry Ford, Thomas Alva Edison, Bill Gates & other
very successful entrepreneurs. These entrepreneurs all went in with their eyes
open, knew what they were doing & win or lose, we (society) benefited from their
___________________________. If we did not allow these successful entrepreneurs to
become incredibly rich, we would be more equal. But, would we be better off? If
entrepreneurs did not think that a possible reward for all the _______________, all
their _____________, all the ___________ is a lot of wealth, then they might do
something else instead. In that case, we would not have the goods, services and
technologies(they created) that make our lives better.
Answer #1 willingness to take a chance
Answer #2 sacrifices they made
Answer #3 hard work
Answer #4 risks they take
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 measures 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.
1. Would you approve of this method in calculating your final grade? Why or why
not?

2. Would this differ from fair shares for all economically? Why or why not?
For example, whats the difference between a successful students being required to
give up some of
His/her hard-earned grade and a successful person being expected to give more of
his/her hard-earned
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.
3. Address the above questions in your own words, in a minimum of 3 paragraphs.
The method of leveling everyones grades so that there would be Fair grades
for all, whether this is fair or not depends on the kind of person youre asking. If
you ask someone who is really hard working and gets straight As, they would be
quite upset with this method. As for someone who skates by and does the bare
minimum, they would be could happy about this method.
Saying for myself, I would never agree to such methods. The main reason
being is no matter how hard I work or what I do to get the grade I desire, I can not
achieve it on my own. It just doesnt make sense to bass one persons grade off
anothers. One major flaw, is that the people who worked extremely hard, study,
and do all the assignments, would be placed in the same category as the students
who do the bare minimum. The flaw in this is you cant tell who works hard and is
intelligent, and whos is lazy and lacking information.
This I believe would be the same if not similar economically. People who are
poor or low-class sometime gravels in their life situations. That they are in more
need of the money then the rich and the rich should be required to give to them.
This idea doesnt seem fair, the rich, for the most part work really hard and got the
positive results they deserve. Many poor people complain but do nothing to improve
their situation or they work hard their whole life in the wrong way and stay poor.
There are also the people who get rich without doing a thing. This is life, in the
classroom scenario, the student who works really hard but still fails, is most likely
studying wrong material. The poor are investing their time in the wrong type of
work. The student who does nothing and still passes, is probably cheating or has a
photographic memory. The rich could have obtained the money illegally or inherited
it.

At first, I was kind of reluctant about having to watch this video and do an
assignment on it. Although after I started it, I enjoyed it. Milton Freedman, saw thing
in a pronounced way and understands the dynamics of a society. Especially, at the

business level. He also a detailed vision of how economies survive and flourish. By
doing this assignment I have heighten my skills to think critically and creatively. This
assignment also developed on my computer and information literacy.
This assignment made me appreciate the importance of a free economy. The
main reason is because of all the benefits that come with a free economy. For
example people can do business with whoever they want and they do not have to
worry about certain permits and all the red tape. This assignment I feel also
developed my knowledge and skills to civically engage, this is because I understand
economics better.