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According to Nobel Prize economics Milton Friedman, free markets, capitalism and The Do Nothing Principle also promote individual freedom and contribute to bringing down dictatorial governments that mistreat its’ citizens.
Today, many Asian dictators adopt free market policies to increase their wealth and power but hope to deny the theory of Milton Friedman that free markets will lead to their overthrow.
Communist China’s leaders are an example of such dictators. In Communist China, a centrally controlled communist command and control economy has been abandoned and replaced by a semi-market economy.
Divide your paper into 3 parts.
Part 1: Explain the exact mechanism by which free market policies pose a threat to dictatorial governments.
Part 2: Read the Richard McGregor book and explain in which ways is the Communist Chinese economy a free market and which ways it is not. Cite two examples.
As one example use the control of private corporations by implanting Communist party functionaires in their management structure.
For the second example choose anything from the book.
Part 3: Give your opinion about whether the Chinese Communist Party will be able to deny Milton Friedman’s hypothesis.
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