Friedman: Economic Freedom and Political Freedom
The importance of the concept freedom cannot be understated. Freedom is not a new phenomenon as it has been in existence for a long time. There are various types of freedom, which are often interrelated. Economic freedom is inextricably related to political freedom. For instance, economic freedom is intertwined with political freedom in the sense that leaders (chosen based on political freedoms) may determine economic policies. The concepts presented in Milton Friedman's work titled 'Capitalism and Freedom' show that political freedom is essential for the realization of economic freedom.
Political freedom and economic freedom are intertwined in that both serve as a function of each other. Friedman confirmed the existence of close connections between politics and economics: only defined combinations of economic and political arrangements are feasible. For instance, a socialist society does not guarantee individual freedom (Friedman 8). Political freedom largely constitutes a free society. Political freedom revolves around individual rights such as the right to free connections, the right to free expression, and the right to vote. These rights often enable people to choose who shall be their leaders and how they shall be ruled.
Economic arrangements play a vital role in the advancement of a free society. Friedman posits that economic freedom is an end in itself and an essential means towards the realization of political freedom. He cites numerous cases in which individual rights are curtailed by the government. For instance, an American citizen who is denied the opportunity to practice his own occupation unless he is licensed under numerous state laws is denied his freedoms. In addition, a person willing to exchange some of his merchandise to a Swiss but prevented from doing so by a quota is also denied his economic freedom (Friedman 12).
Economic freedom can be seen as an end to political freedom because economic arrangements are vital because of their effect on the dispersion or concentration. Political freedoms are often intertwined with free markets. Capitalist systems advance economic freedom by propagating individualism. As such, people are free to own...
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