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Watch the following link (it is about 13 minutes long) and do the following: Milton Friedman: Shoul

Watch the following link (it is about 13 minutes long) and do the following:

Milton Friedman: Should Higher Education Be Subsidized?

1. Summarize in a few paragraphs Milton Friedman’s arguments against the subsidization of higher education
2. State your opinion in a paragraph or two on Friedman’s arguments and what the strengths and weaknesses are as you see them
3. Draw a supply and demand diagram for higher education and assume there is a positive externality associated with the demand for higher education. Show the deadweight loss, explain whether the private market has over or under consumed higher education, and suggest a policy to fix this problem.

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