In his book “Capitalism and Freedom”, Milton Friedman argues that economic freedom is not just important in itself, but is also the foundation of all other freedoms.  According to our survey data, 47% of Americans agree.

There also exist substantial generational differences regarding this issue. First Globals™ are the less likely than other  generations to agree that “economic freedom is the foundation of all other freedoms” and most likely to agree that “cultural and social freedom is more important than economic freedom.” In a November 2008 Zogby survey, 34% of First Globals™ agreed with the former, and 52% agreed with the latter. The next oldest generation – those between ages of 30 and 40 – endorsed the former by 48% and the latter by 38%.

Do First Globals™ put more weight on social and cultural freedom because of their stronger connection to to global culture? Or are they relatively less interested in economic freedom because they earn less money? How important is economic freedom to you?

Zeljka economics, first globals capitalism, culture, first globals, Generations, zogby

Some economists have argued that anti-discriminatory labor policies are not necessary since any discrimination will be punished by the market. Their argument goes like this: if an employer is paying members of one group more than another solely based on his prejudices, competing employers will be able to hire members of the discriminated group at lower prices. This will lower their costs, make them more and eventually drive out discriminators from the market.

Zogby data show that most Americans do not believe that “most often than not, employers who discriminate in employee hiring will be punished by the market”. In addition, younger people somewhat more likely to believe that those who discriminate will be punished by the market. Thus, First Globals™ are the most likely of any generation to believe that employers who discriminate in employee hiring will be punished, with 34.1% of First Globals strongly or somewhat agreeing with the above statement. The percentages of those agreeing with this statement declines as the age group increases, with only 23.7% of those over 65 strongly or somewhat agreeing that employers who discriminate in employee hiring will be punished by the market.

Do you agree or disagree with that market is relatively effective in punishing discrimination? Why do you think young people have more confidence that the market will punish discriminatory employers?

Zeljka economics capitalism, discrimination, first globals, zogby