Name/Pd: Mr. Davey ap economics



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Name/Pd:__________________________ Mr. Davey

AP Economics

Film Review:

Johan Norberg’s “Free or Equal”


As our class transitions to focus on our Macroeconomic portion of study, I want you to develop a significant frame of reference for the “big picture” of global economic policy. Before we begin watching the PBS documentary, please discuss question #1 below with a neighbor.


  1. What is more crucial for a society: economic freedom or financial equality?

  2. Why would Milton Friedman say the financial crisis was not a result of free markets? Do you agree or disagree with that analysis?

  3. What is the basis for the argument economic freedom vs. financial equality?

  4. Why are Friendman’s economic theories controversial?

  5. What was Friedman’s first stop in his 10-part series “Free to Choose?” What is its economic significant?

  6. His second stop? Economic significance?

  7. What significant societal benchmarks does Norberg’s/Friedman’s analysis lend to free markets? Do you agree with their assertions? Why or why not?

  8. Friedman asserts, “Human and political freedom has never existed and cannot exist without a large measure of economic freedom…” Do you agree or disagree with his analysis? Why or why not?

  9. Describe how prices exist as signals in the free market.

  10. How do Nokia cell phones (as well as all other cell phones) exemplify globalization?

  11. Friedman states “only the businessmen who can adapt, who are flexible and adjustable survive, and they create good employment opportunities for the rest.” What are two perspectives from which one could break down this statement and what are those perspectives positions?

Answers to 3 of these questions, typed out and in complete paragraphs, will be due Monday.


As an alternative to answering 3 questions, you may complete the documentary (available on YouTube or my webpage) and write a one-page response to the question what is more crucial to society: economic freedom or financial equality? Base your answer upon the new perspective you have on the concept after viewing the documentary and provide substantial evidence to support your position.
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