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Hayek Vs Milton Friedman

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On September 11th 2001, America experienced the most catastrophic terrorist attack on its home soil in the history of the country. The men responsible for this event hailed from Middle Eastern countries and identified as Islamic extremists. Two years after the attack, former president George W. Bush, announced that the United States would declare war on the terrorism and on the nations in the Middle East that harbored the terrorists group Al-Qaeda. The men at the top of this organization have been taken out of power and Al-Qaeda’s influence and leaders have been silenced to a certain extent. However, the United States still faces resistance in this unstable region and a new terrorist organization, ISIS, has appeared and is showing the …show more content…

By both of these distinguished economists standards the best course of action would be to immediately establish a free market and capitalism in Egypt. Friedman argues that if a country is given the opportunity to participate in a free market, the country will thrive economically and in turn the citizens quality of living will improve. He also believes that free market is the best remedy to any political matter as well. He as well as Hayek goes on to note that economic freedom is the best way to obtain political freedom for all . Under almost no condition would Friedman or Hayek ever permit government intervention in business, as it would create an unfair market and greatly deter good competition and …show more content…

Recently overthrown political leader Hosni Mubarak held the presidential position in Egypt from 1981-2011. He was only the fourth president to be elected in Egypt’s recent Republic government system starting in 1954. He abused his power and always won elections by massive margins. In the 2010 Egyptian elections, Mubarak’s party, the National Democratic Party (NDP), won 83% of the preliminary round of elections. He was widely accused of fraud and cheating on ballots . An Egyptian rights group called the Independent Coalition for Elections’ Observation commented that, “The elections were full of widespread violations that brough Egypt at least 15 years back” 3. This ballot fraud was a major contributor to Egyptian riots in 2011 during the Arab

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