Macro economics - Term Paper Example

Friedman’s Maximum Freedom Society and Minimal Freedom Society in Communist China Insert Insert 06 April In Section choose three examples from McGregor that illustrate the difference between Friedman’s maximum freedom society and the minimal freedom society in communist China. According to Friedman’s book, “Free to Choose”, it is clear that free markets can be used for economic growth and still preserve people’s dignity and liberty (Ramond, 1980). In addition, Friedman argues that individual freedom is moral and provides a number of business choices to individuals.

As a result, the government is keeping off from engaging in decision-making processes that have an effect on individuals’ freedom such as policies related to over-taxation. Therefore, there is no need of government intervention in free market unless there are market failures. Besides, individual are given freedom on matters such as wage control, prices, consumer protection, and inflation. Importantly, Friedman asserts that a society requires maximum freedom whereby, the citizens are allowed to do what they want without government intervention in market policies and individuals lives.

In that sense, Friedman advocates for a policy of free-from-government intervention, capitalism and Marxism systems, as well as adoption of free markets globally. Nevertheless, he argues that this will improve individual wealth possession as well as reduce dictatorship and exploitation of the poor in the society. The advantage of this is that, it will promote per capita income and even life expectancy of citizens of a country. Finally, this will lead to more economic growth and high living standards of all the people in a country due to the maximum freedom of choice in investment and consumption given to them by the society and the government (Gordon, 1982).

On the other hand, according to Richard McGregor, the communist rulers in China have established a society of minimal freedom where the government takes up resources and distributes to the whole society regardless of who produced (The Permanent Party.2010). Again, the communist rulers do not support free markets and mainly involve in oppression and dictatorship form of government. As a result, the communist rulers have the power to control individual aspects of life, thus people lack the freedom to pursue their self-interests.

The communists control everything in China, ranging from media to military system. This has led to corruption and exploitation of the poor in the society. Finally, this communist system’s way of ruling has given a few individuals wealth and power leaving others to suffer. Therefore, it is clear that the main differences between Friedman maximum freedom society and China communist rulers’ minimal freedom society are as follows. To begin with, Friedman’s society advocates free market while China’s communists do not.

Secondly, Friedman’s society pursues capitalism while china’s communist society does not. Finally, China’s society involves a lot in corruption and government control of power and wealth while Friedman society does not allow government intervention in control of people’s lives. In Section 2, explain why you would choose to live in Friedman’s maximum freedom society or the society created by China’s Communist Party. Do this assuming you are each of three individuals: 1) A “princeling” in Communist China who would be just an ordinary person in Friedman’s world.

As a princeling, I would choose to live in the society created by China’s communist party mainly because I will have the power and wealth under my control. On the other hand, I will also have the ability to control various sectors such as the media and the military that will have to report to me as a communist party member, giving me more power and wealth in the society. Furthermore, I will not choose Friedman maximum freedom society in this case, since by doing so I will have the freedom to do what I want but I will be just like any other ordinary person in the society without power.

In addition, in a Friedman maximum freedom society, I will have to work hard in order to acquire wealth since it is a society for survival for the fittest unlike in Communist China where all wealth will come to my control without sweating just because I am a leader. Therefore, as a Princeling, I will choose to go and live in a communist society where I will enjoy control over others and have wealth as well as power (The Permanent Party, 2010). 2) A hardworking dynamic entrepreneur who wished to start his own company and end up fabulously wealthy and successful like Steve Job’s, Bill Gates, Marc Zuckerberg, etc.

As a hardworking dynamic entrepreneur who wished to start his own company, I will consider living in Friedman maximum freedom society in order to gain more wealth and be successful in life without government interventions and control. In addition, I will also choose to live in maximum freedom society where there are free markets that will enable me promote by business globally. Since it is a capitalist society, all profits I make would belong to me and nobody would influence me to share it with anybody.

Besides, I will not live in China’s communist minimal freedom society because I may be affected with corruption, oppression, and exploitation by the communist rulers. In addition, I will not enjoy my hard work because the rulers will take it up to be distributed to other people in the society without my consent. Finally as an entrepreneur, I will like a society where everyone is allowed the freedom to work and enjoy his returns without government interferences and control (Nathan, 2011). 3) Just an ordinary Joe with no special skills, talents, or ambition As an ordinary person without special skills and talents, I would decide to live in China’s communist society because, in this society, there is communism and individuals are protected by the will-to-do-nothing policy, which is supported by the communist party.

Here, I will not have to work in order to survive since the government will distribute everything it collects from business owners and taxes to everyone in the society regardless of whether they worked for it or not. Again, the communists have control over individuals’ lives and freedom, so one cannot be exploited by the freewill of others who are advantaged. Besides, in such a society there is no free markets and capitalism, hence I will decide to relax as I involve myself in other non-business and non-economic activities (Cho, 2010).

Conclusion It is clear that China’s society has communist rulers who have created a society with minimal individual freedom. In addition, China’s society lacks free markets and capitalism thus nobody can do what they wish and enjoy it without government control. As a result, the communists are in control of individuals’ lives to an extent that individuals are not allowed to pursue their own self-interests in China’s society, as the government takes up everything produced for welfare of the whole society.

However, China’s society is full of corruption, exploitation, and oppression of the poor, since they have no power or say in relation to economic or social issues. Besides, in China’s society, the communist party has more power and economic control more than even the government. For example, they have control over the media and the army, who report to them instead of reporting to the government. Despite this, being one of the fastest growing economies globally, China’s society has dogmatic policies but provides one of the best secretive strategies to promote its economic growth.

China’s society believes in the government’s lack of ability to help individuals in their growth and development. Again, in China’s society, the richest people are members of communist party with a current membership of about 78million. Although this society’s mode of control is very costly and challenging, it has been able to solve all its problems and mainly aim at building a modern economy though growth. China’s societal problems include huge environmental and energy problems, social expectation as well as demographic problems.

This has shaped the political system in China, which is mainly full of dogmatic policies and corruption. There is a lot of political interferences and lack of democracy in China’s society. Therefore, it is clear that, the communist rulers control China’s society and party, thus wealth and power are in their hands. References Cho, A. (2010). The Party: The Secret World of Chinas Communist Rulers. Library Journal, 135(9), 85. Gordon, W. (1982). What of the Friedmans Free to Choose? Journal of Economic Issues (Association for Evolutionary Economics), 16(1), 301.

Nathan, A. J. (2011). The Party: The Secret World of Chinas Communist Rulers. Foreign Affairs, 90(2), 186. Ramond, C. (1980). Editorial: Enough Is Enough. Journal of Advertising Research, 20(2), 75. The Party: The Secret World of Chinas Communist Rulers. (2010). Publishers Weekly, 257(19), 39. The Permanent Party. (2010). Economist, 395(8687), 84.