Professional Documents
Culture Documents
1. If the government gives everybody the same freedom to work and reap the
rewards, some will do better than others. The result will be ___Equality of
Opportunity__, but not ___Equality of Outcome_.
5. Explain how the lead pencil & the smart phone are examples of invisible hands.
There is a collective of different origins where those products come from.
Together we created something we can all benefit from which is how he describes
invisible hands with helping your life by helping others. Generally we all use
something that is an everyday day type tool.
clearly in conflict with it, since it requires that the freedom of some be restricted in
order to provide the greater benefits to others__.
8. Our economic system gave us Henry Ford, Thomas Alva Edison, Bill Gates & other
very successful entrepreneurs. These entrepreneurs all went in with their eyes
open, knew what they were doing & win or lose, we (society) benefited from their
_Willingness to take a chances____.
If we did not allow these successful entrepreneurs to become incredibly rich, we
would be more equal. But, would we be better off? If entrepreneurs did not think
that a possible reward for all the ___sacrifices__, all their ____hard work_________, all
the ___risks________ is a lot of wealth, then they might do something else instead. In
that case, we would not have the goods, services and technologies (they created)
that make our lives better.
9. As Milton Friedman said, The society that puts equality before freedom will
____Concentration to Power____. The society that puts freedom before equality will
end up with a _____Government_______.
I would not approve of that method at all. It is highly unfair to those who work
extremely hard to get the highest grades but then get dropped to a mediocre level.
Not only is this a complete slap in the face to the hard workers, it is also a hindrance
to them. It might make them believe that their work is not worth it which can keep
us from expanding our knowledge. This can greatly affect us in the future because
we would not have those intelligent entrepreneurs and their life changing ideas. On
the other hand, those who got lower grades do not feel the need to do anything in
their lives if they can pass off by not trying. They lack motivation and inspiration
which is something we need in society to thrive and move further. I would not allow
that to happen, people should take responsibility for their own actions.
No I do not believe that it would differ from the economic standpoint. Those
who do not work or trying to better their lives would still get benefits that could be
equivalent to those who have a job. There is not much you can do in this situation
because many people would take advantage of receiving benefits. I truly believe
that every person should be responsible for what they do when it comes to the
economy. If they make a bad investment or just lazy then have them suffer the
consequences. If you try hard and achieve greatness then by all means all the
benefits.
Reflective Writing
The first thing that came to mind was to think creatively. Watching the video
and seeing those who had great ideas and made millions is quite motivating. There
is always opportunity out there so if I am able to set my mind to create something
that is not available to the everyday day worker then I can be in great success. It
does not come suddenly but by observing what we do and do not have. I learned
that to be successful you need to constantly find ways to improve yourself and
others and that can grow into something larger than expected.
Another thing I noticed from the video is to have developed computer and
information literacy. One thing to use your own creativity in todays modern world is
to have computer literacy. Specifically I am referring to phone apps. They are used
every day to whoever uses a phone. Creating an app you need to know coding,
having computer intelligence. If you want to be successful in todays world you
should start with creating your own app for those in need.