problemset3 - Economics 103C Professor Friedman Fall 2011...

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Economics 103C Monica Chu Professor Friedman Berna Dogan Fall 2011 Thursdays, 4:00 – 4:50 PM Problem Set 3 1) a. We recognize people as having rights to life, liberty, and the pursuit of happiness by enforcing The Bill of Rights. As American citizens, liberty comes with freedoms as listed in our First Amendment rights – freedom of speech, press, and religion. We are granted the right to pursuit of happiness through free will. People can attain happiness by doing what they want; therefore, they have the right to the pursuit of happiness. b. We deny some people these rights but make them conditional on success in the marketplace because of money. With more money, the easier it becomes to achieve happiness. For example, people have the right to a trial, but the person on trial will only have an increased chance of winning the trial if s/he has the money to afford a good lawyer. Money is a great enabler in the United States – people with money can do anything they please, but the poor have very limited options because they do not
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problemset3 - Economics 103C Professor Friedman Fall 2011...

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