Question

What did Milton Friedman propose regarding capitalism and wealth?

A) Deregulating capitalism would generate wealth for the poor.
B) Regulating capitalism would ensure wealth equality.
C) Capitalism should be abolished.
D) Wealth should be redistributed through government intervention.

Answer 1

Milton Friedman advocated for free-market capitalism, suggesting that deregulating capitalism would be beneficial in generating wealth for the poor, aligning with option A.

Step-by-step explanation:

Milton Friedman was an economist known for his strong support of free-market capitalism. He proposed that deregulating capitalism would lead to economic stability and generate wealth for all segments of society, including the poor. His viewpoint was that government intervention often led to economic instability, and should therefore be minimized, allowing the market to regulate itself and grow naturally. This position aligns with option A) Deregulating capitalism would generate wealth for the poor. Friedman was a proponent of the Monetarist view, which suggests a steady, controlled expansion of the money supply, proportional to the growth of the economy, rather than arbitrary adjustments by the Federal Reserve Bank.