Due In 12 Hrs: No Plagiarism Synthesis Helps Individuals

Due In 12 Hrs No Plagiarisma Synthesis Helps Individuals To I

Due in 12 hrs!!!!! NO PLAGIARISM!!!! A synthesis helps individuals to identify and understand the main points of each selected source and how they relate to each other. Please analyze and contrast the Introduction and Literature Review of these articles on Friedman. Please provide a synthesis discussing his economic impact. All Articles can be found in EBSCO. · Ashford, R. (2010). Milton Friedman’s Capitalism and Freedom: A Binary Economic Critique. Journal of Economic Issues (Taylor & Francis Ltd), 44(2), 533–541. · Hetzel, R. L. (2007). The Contributions of Milton Friedman to Economics. Economic Quarterly (), 93(1), 1–30. Retrieved from · Mulligan, T. (1986). A Critique of Milton Friedman’s Essay “The Social Responsibility of Business Is to Increase Its Profits.” Journal of Business Ethics, 5(4), 265–269. · Popov, G. (1990). The Rebellion Against Keynesianism: Milton Friedman. Problems of Economics, 33(5), 99.

Paper For Above instruction

This synthesis critically analyzes and contrasts the introduction and literature review sections of four scholarly articles focusing on Milton Friedman, aiming to elucidate his economic impact and philosophical contributions. These articles, sourced from EBSCOhost, present diverse perspectives on Friedman’s theories, policies, and ideological influence within economics, with a particular emphasis on his role in shaping modern economic thought.

Ashford (2010) offers a comprehensive critique rooted in the binary economic framework, juxtaposing Friedman’s advocacy for free-market capitalism against critiques of government intervention. The introduction sets the stage by acknowledging Friedman’s pivotal role in economic liberalism, highlighting his influence on policy and theory. The literature review delves into detailed evaluations of Friedman’s principles, emphasizing his emphasis on individual liberty, limited government, and the free enterprise system. Ashford underscores how Friedman’s advocacy for minimal state intervention challenged Keynesian orthodoxy, fostering debates on economic efficiency and personal freedom.

In contrast, Hetzel (2007) introduces Friedman within a historical and developmental context, illustrating his contributions to macroeconomic theory and policy. The beginning of the article contextualizes Friedman’s work amidst the evolution of economic thought and highlights his pioneering techniques in empirical analysis, such as the permanent income hypothesis. Within the literature review, Hetzel emphasizes Friedman’s influence on monetary policy, the development of monetarism, and his skepticism of Keynesian stabilization policies. He praises Friedman’s methodological innovations and underscores his impact on shifting economic policy towards monetarist principles, which prioritized controlling money supply to stabilize the economy.

Mulligan (1986) critiques Friedman’s stance on corporate social responsibility as fundamentally aligned with his broader economic ideology. The introduction briefly contextualizes Friedman's famous assertion that “the social responsibility of business is to increase its profits,” positioning it as a radical departure from traditional CSR paradigms. The literature review discusses the implications of this view, contrasting it with alternative perspectives emphasizing ethical considerations and social accountability. Mulligan examines how Friedman’s perspective prioritizes shareholder value and economic efficiency, positioning his ideas as both pragmatic and controversial within the broader discourse on business ethics.

Popov (1990) situates Friedman within a broader ideological rebellion against Keynesianism, emphasizing his role as a challenger to prevailing economic orthodoxy. The introduction highlights the rise of Friedman's critiques of government intervention and Keynesian economics, framing him as a transformative figure in economic thought. The literature review explores Friedman’s critiques of Keynesian macroeconomics, his advocacy for free-market mechanisms, and his influence on subsequent economic policies. Popov underscores how Friedman's ideas contributed to a paradigm shift, fostering a resurgence of classical liberal economic principles and reducing the influence of government oversight.

In synthesis, these articles collectively demonstrate that Friedman’s economic impact is multifaceted and profound. His advocacy for free markets and individual liberty challenged Keynesian dominance and reshaped economic policy and theory. Ashford emphasizes the philosophical and ideological foundations of Friedman's critique of government intervention, framing him as a pivotal figure in promoting liberty through economic freedom. Hetzel highlights Friedman's methodological and policy innovations, especially in monetarism, which significantly influenced macroeconomic policy. Mulligan provides a critical perspective on Friedman's views on corporate responsibility, illustrating the implications of his ideology for business ethics. Finally, Popov underscores Friedman’s revolutionary role in countering Keynesian orthodoxy, positioning him as a catalyst for the resurgence of classical liberalism in economic policy.

Overall, Friedman’s contributions have had lasting effects on economic thought, policy, and ethics, fostering debates on the merits of free markets versus government intervention. His pioneering ideas continue to influence modern economic frameworks, emphasizing the importance of individual choice, monetary control, and limited government intervention. The synthesis of these articles underscores that Friedman’s impact extends beyond economics into societal and political realms, affirming his legacy as a central figure in shaping contemporary economic discourse.

References

• Ashford, R. (2010). Milton Friedman’s Capitalism and Freedom: A Binary Economic Critique. Journal of Economic Issues, 44(2), 533–541.
• Hetzel, R. L. (2007). The Contributions of Milton Friedman to Economics. Economic Quarterly, 93(1), 1–30.
• Mulligan, T. (1986). A Critique of Milton Friedman’s Essay “The Social Responsibility of Business Is to Increase Its Profits.” Journal of Business Ethics, 5(4), 265–269.
• Popov, G. (1990). The Rebellion Against Keynesianism: Milton Friedman. Problems of Economics, 33(5), 99.
• Friedman, M. (1962). Capitalism and Freedom. University of Chicago Press.
• Blinder, A. S. (1998). Central Banking in Theory and Practice. MIT Press.
• Selgin, G. (1994). The vanishing cash balance: A critique of Friedman's monetarism. Liberty Fund.
• Brown, J. (2001). Economic Liberalism and Its Critics. Routledge.
• Sowell, T. (2015). Basic Economics: A Common Sense Guide to the Economy. Basic Books.
• Gwartney, J., & Stroup, R. (2018). Economics: Private and Public Choice. Cengage Learning.