Ba 560 - Milton Friedman – What Is America?

Running Head: MILTON FRIEDMAN – WHAT IS AMERICA?

Milton Friedman – What is America?

BA560 Week

Abstract

This paper will discuss the lecture given by Milton Friedman titled “What is America?”  It will cover the ethical considerations in the video and if whether or not the questions presented in the video are still relevant in today’s business environment. It will also give two examples of how the lecture material can change the way we do business in today’s business market.

What is America?

        Dr. Friedman gave a lecture at the University of Chicago that was titled “What is America” in this lecture Dr. Friedman discussed the changes that have occurred in both the economic and social behaviors of society and the effects that government involvement has had on those behaviors.

        The first question presented asks what ethical considerations were discussed in the video. The ethical considerations in the video that Dr. Friedman discussed were regarding immigration and how it’s viewed in society. If asked whether or not open immigration was a good thing in 1914 the answer is yes, yet today some or most would say that it is not. Obviously immigration is something that will be talked and fought for years to come. Our current political views on the spectrum seem to have two sides to it. How immigration plays into economics is something that is not being talked about, but the ethics behind it is something that is talked about regularly. Both are valid points. This country has grown to what it is because of immigrants. The thing that Dr. Friedman discusses is how immigration would play into our current economical environment and the effects open immigration. The ethical views and values focus on the freedoms of people who are comprised of different races, beliefs and backgrounds. With those ideals of free enterprise and how ethics relates to those ideals is something that America needs to strive for in order to remain relevant in the social and economic environment. As an ethical practice, he argues that America has ensured that each person has the freedom to pursue him or her beliefs. The government according to the lecture has not had a crucial role in the developmental achievements in America, but the fact that it has offered a bureaucratic environment for operation cannot be fully overlooked (Butler, 2011).

        It also seems that Dr. Friedman talks about how ethically the United States has strayed the course from a country that offers the “American Dream” to a country that is being overrun with political bureaucracy and limitation of freedoms.

        The questions posed in the video are still relevant in today’s society since government involvement has grown to new heights regarding business and economics. The current government needs to assess the situation by looking at the past and see where we have gone wrong. The United States is no longer viewed as an economic or a business super power primary because the laws that have been passed impede economic progress. Immigration is on the lips of every American and it’s something that Dr. Friedman address in this lecture which was recorded in 1978. Thirty-five years later and everything that Dr. Friedman talked about still applies. Current laws and immigration would not have worked in 1914. There would not have been a driving force for the immigrants to be as big of a driving force if the current laws were in place. Ethical it can be argued that paying below minimum wage is unethical and unfair, yet today we as a society accept illegal immigrants to do work off the books most of the time under minimum wage, but its work that some people feel is beneath them so society turns a blind eye.  
        This was a great lecture to watch and discuss. In regards to how the lecture can assist in becoming a better business person, this lecture goes into depth of business ethics and how we as a society operate in today’s business world. The things that were addressed in the video are still very relevant today. The important thing that was identified by the lecture is the importance of unity in the entire business infrastructure. Business working towards a common goal would ultimately realign the business operations of today. The other note of importance is diversity in business. Just like America prospered though diversity in decisions a business can also perform better through exercising individual creativity and embracing constant innovation.