Understanding of Equality of Opportunity by Milton Friedman

According to Milton Friedman, the equality of opportunity is not possible because there are many factors that need to be taken into an account when defining the equal opportunity. The examples that were addressed by Professor Friedman is that not everyone has the same ability and opportunity to be to equal to one another. The equal opportunity explained by Milton Friedman is that “there should be no arbitrary obstacles placed to prevent people from achieving those careers, those positions and those opportunities for which they have the ability and the capacity and the taste to qualify. There should be no arbitrary obstacles in people from developing their capacity.” The opportunity should be there for everyone but the person with the most capability should be paid more than the other person with the less capability. This explanation of Milton Friedman helped the economy to keep moving forward. The people kept trying to be better than one another in terms of knowledge, skills, and effort to be better rewarded for their performance. 

Video by: ​Basic Economics