Who Stole The American Dream Analysis

One of the problems I find when talking about free market is the fact that America does not truly have a free market today, or at least not to the extent that Friedman envisioned. There’re extensive amount of legislation that goes into controlling the economy, as well as rules to trade. Governments ability to invest in the market, or even bail out banks hold a huge weight. For Friedman, having a small government that stays out of the free market and allowing competition to emerge is the upmost importance. Unfortunately that is not the case. Because of government power to create laws, it sets an easy target for corporations to lobby Washington. In Hedrick Smith’s book Who Stole The American Dream?, Smith explained the history behind which business entered government. After the Powell Memo, corporations
Coates deep attachment to inequality lies deep in the wounds of slavery. In which, he sees no amends for the oppression of his people. To reduce inequality, Coates believes a couple different things need to take place. First there needs to be better opportunity and quality education provided by the State. Secondly, our drug policy needs to reform, and policing has to change. Whether high incarceration is a symptom of racism or not. Personally I believe that high incarceration is a result of poor family structures and morals. Friedman and Dr. Murphy, on the other hand, believe in less government involvement. The free market is responsible for the quality of life we have today, so we should not stray away from that mode of production. In Friedman’s opinion, only through allowing the market to work will inequality decrease. That means cutting the minimum wage, open up trade, invest in human capital, and focus on growth. Dr. Murphy believes highly in human capital being the answer to inequality. The supply of skilled labor must increase for the gap to