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The Problem Of Authoritarianism In Milton Friedman's Economy

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In Milton Friedman's eyes, competitive capitalism is a superior form of economic organization that guarantees not only economic but also political freedom by separating economic power from the political one. If a free market is allowed to work with its own logic following the law of supply and demand, Friedman contends, it will provide the freedom of choice to individuals that can counteract the possible threat of coercive power. What Friedman does not address, however, is the possibility that an authoritarian government can wield its absolute power in both the economic and the political spheres, promoting capitalism in an international market while curbing democracy. The freedom to make decisions as producers and consumes or as workers and employers can indeed coexist with, and oftentimes overshadows, the lack of choice as a citizen who is formally entitled to participate in politics. In fact, the advance in material life made possible by a more efficient market system obscures the problem of …show more content…

International media paid special attention to this incident, and some regarded it as a turning point for China's labor movement. What was special about the Honda strike was not the scale or the worker's demand, and there was nothing extraordinary about the event itself: strikes and worker protests regarding wage and working conditions have become increasingly common across all economic sectors and have spread the entire country. But it was significant that the workers who stood up against Honda were mainly composed of a young migrant population. The "cheap labor force" of this silent majority fuelled the rapid economic growth in the export-oriented regions. The fact that this vulnerable group decided not to be silent anymore signalled its unbearable grievance and reflected the pattern of China's labor movement at

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