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Milton Friedman - What is America

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Please help me in answering the following questions about the youtube video.

1. What ethical considerations were discussed in the video.
2. Are the questions posed in this video still relevant today in light of the current business environment?
3.How can this lecture help you to become a better business person? Provide two examples on how this lecture material could change the way you do business.


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Solution Preview

Here is an outline and information for the questions:

Milton Friedman believes America can still be the cooperative society in which citizens work together for individual benefit. The focus on his lecture relates to what he views as problematic areas. Friedman points to government and laws as an influence on ethics. Many people can profit from illegal activity such as smuggling immigrants into the country and selling drugs. Profiting from illegal acts sends a message to society that laws are to be disregarded. Unethical behavior and disregard for the legal system can be found in many examples in the corporate world.
Another ethical focus of Friedman's lecture is work ethic. He believes illegal immigrants have a greater desire to work hard and give everything they have, as minimum wage laws have less of an effect on them. In addition, illegal immigrants are not eligible for Federal or state welfare benefits. Therefore, they will do what it takes on their jobs to product the expected results. Those of us with greater protection tend to take our jobs for ...

Solution Summary

The ethical considerations discussed are determined. The current business environment relevant today is given.