on exactly that point To make exactly that point
here you said was a true model This is called "sequence of tenses." What Friedman said was: "Here is a true model...". When reported in the Past Tense, the tense of the statement itself changes: Here you said was a model. Few languages do this, but English does. (See F13d Limited Government 37 and F13d )
model Here, ideal or perfect example. A model factory. Also, a type or design of something. A car model.
of the market operating This is a little unfinished. He means something like "of the market operating properly, as it should be operating."
fair description A description that is accurate and reasonable. Description is the noun form of the verb to describe.
there aren't any such things More commonly, there's no such thing.
It's not — Sentence abandoned. Friedman probably started to say, "It's not perfect."
it happens to be a government — Sentence abandoned.
it's run from Britain. This is a Passive sentence.
run Here, to run means to administer, to manage, to govern. Note that to run has over 100 meanings! (Also see &
Governor General, Financial Secretary Titles of British officials who ran Hong Kong when it was a colony.
regulation (See F13d Limited Government 19)
tariffs A tax that is put on imports to make them more expensive and to protect a country's own products.
export Opposite of import, material or product that a country sells to other country. Note that export subsidies is another example of a noun modifier.
subsidies Money given by a government or organization to help people, or companies. or other organizations. The singular is subsidy, and the verb form is to subsidize. Most countries subsidize education. Our city got a subsidy to build a new sports field.
restriction Something that limits, a limitation. From the verb to restrict.
purchase Verb: to buy; noun: something that is bought. Japan purchases iron ore from China. Please pay for your purchases at the cash register.
monies = The plural of money, mainly used in formal financial or legal documents.
comes . . . close to = Is almost
there is no doubt that = There is no uncertainty, it is definitely true that.
main Most important, major
beneficiaries People (or sometimes, things) who benefit from something. Also, the people who inherit (see F13d Limited Government 37) money or property from someone. Singular = beneficiary.
low-income Here, poor, not having much money. Opposite: high-income. Low-income housing = housing for poor people. High-income families.
by the [number plural] See
Red China Old-fashioned term for "Communist China." Distinguishes mainland China, or "the People's Republic of China," from Taiwan, which is also formally "the Republic of China." In the 19th and 20th centuries, the color red was often associated with Communism.
keep on + Gerund = Continue to + Infinitive, not stop + Gerund. (Irregular verb: to keep on, kept on, kept on.) They kept on talking all night. I'll keep on walking till I get there.
Earlier, Michael Harrington had said that a free enterprise system was a system that exploited poor people. Friedman now exaggerates — he makes what Harrington said sound worse than what he actually said. This is a kind of sarcasm. or using words in a way that makes fun of someone else. Friedman is making fun of Harrington for being too "liberal" and anti-free market. Friedman is challenging Harrington: if the Hong Kong system "grinds people down" and only benefits greedy, "rapacious" industrialists, how does Harrington explain the success of Hong Kong? And how does he explain the extent, or the large number, of people who keep on moving there?
Even though people in Hong Kong can't vote in elections, millions of people have moved there. You could say that they voted with their feet. The direction their feet moved showed what they were "voting" for.
are ground beneath the heels = Exploited, oppressed. Ground is the Past Participle of an irregular verb (to grind, ground, ground), which literally means "to reduce to small pieces or particles by crushing." to grind coffee, ground coffee, freshly ground coffee
rapacious Aggressive and greedy. Here, another example of sarcasm. Harrington probably didn't use a word this negative.
industrialists Persons who run a (usually big) business or businesses, especially large factories. Henry Ford was a famous American industrialist. Many wealthy industrialists are based in Mumbay.
to vote with their feet (Also see &) Voting is usually formal, with a paper ballot, raising a hand, or calling out Yes!/Yay! or No!/Nay! at a meeting. Here voting is used in a figurative sense of showing your choice by where you move.
continue to check = keep on checking
one gigantic sweatshop Here one doesn't really mean "1." The pattern one adjective noun is an informal American way of emphasizing something, often in the form of an exclamation: That's one cute baby! = What a cute baby!
gigantic Huge, enormous, very large. From the Latin word for giant, a real or unreal person who is much taller than average.
sweatshop (See F13D Limited Government 19)
You would acknowledge Often, as here, contrary-to-fact conditions (see &&) are used without the first part of the condition, especially if the speaker thinks the listener can guess what the condition is. Here, it might have been: If I asked you, or, If I insisted, [you would acknowledge . . .].
may be right for One of the major uses of may or might in the present or future is to express possibility. Conable is saying that what is possibly right for one period is possibly not right for another.
stage Here = period of time before or after another period of time.
Conable thinks the most important issue, or question, is: what do we do now? Where do we go from here? What pragmatic, or practical and common-sense, decisions should Americans now make about where the American economy should go. How should it change? Should change be in the direction of more and more government? Or should Americans try to balance their own individual freedom to make choices with increased government involvement in our lives?
The argument is between those who believe in more government rules and regulations and those who believe in less rules and regulations. Dr. Friedman is in the second group. He describes his goal as "freedom of choice." Conable uses the same words. This is a signal that he agrees with Friedman. We get a good idea of how Conable feels by his choice of words. "Freedom of choice" sounds very positive; especially in a democracy; "government intervention" sounds negative.
issue Here question, problem. Very common in business, especially the computer and software industry. issues of the day. Users had a lot of issues with that software. That's why they took if off the market so fast. Also see to issue &
pragmatic Practical, sensible, using common sense.
the direction of the American economy = where the American economy is going.
Should it be . . . . Should here expresses something like may/might (see above) but with more sureness, more certainty. It may (or might) rain tomorrow =There is some possibility that it will rain tomorrow. It should rain tomorrow. = It probably will rain tomorrow.
to preserve To keep safe and/or fresh. They preserved vegetables for the winter. We must preserve our health.
adequate Here = enough of. adequate balance = enough of a balance.
balance Noun and verb. Original meaning = equal distribution of weight. The circus performer balanced on the rope. Extended meaning, as here, giving equal importance to two things. A good balance between work and studies.
freedom of choice = freedom to choose
intervention Noun form of the verb to intervene, which has two meanings 1) happening between two events and 2) (as here) to step in, to interfere, to get mixed up in, to get involved in.
Friedman doesn't answer Conable's question. He responds to the first thing Conable said. He responds to the question whether he wants the US to become a gigantic sweatshop. He repeats his earlier point that it is important to distinguish two things. One is the physical circumstances of Hong Kong: how much land it has and how many people live on that land. The other is Hong Kong's political and economic circumstances: the laws and the rules that define the political life and the operation of the market.
to distinguish To see the difference between two or more things. Make out, perceive. It was so dark, I couldn't distinguish one house from another.
circumstances See F13d Limited Government 159.
physical arrangements = physical circumstances
in terms of X = in connection with X or taking X into consideration. In terms of adds almost nothing to this sentence. "The circumstances of the physical arrangements" means almost exactly the same thing.
Friedman returns to the case, or example, of Hong Kong. Hong Kong has many people living on very little land. It has high population density. The U.S. has a much lower density of population. Friedman certainly doesn't want the U.S. to have so many people living in such a small space. He does not want to crowd the American people into the same density of population that Hong Kong has.
Hong Kong is an excellent example of good policies because the policies are successful even though Hong Kong's physical circumstances are very bad. People in Hong Kong would love to emigrate to other, less crowded countries. However, most countries, including the US, have severe restrictions on immigration. Friedman thinks that restrictions on immigration are a major restriction on human freedom. He remembers the "good old days" before 1913, when the U.S.had, according to him, "100% freedom of immigration." This is new topic and a digression from his main theme. Friedman stops the digression, and asks Conable to continue his question. Conable asks whether Hong Kong would "exist" if it weren't close to China. He means: "Would Hong Kong exist as it is today, with its policies, if it weren't in close right next to China?"
Now A signal that he is changing the subject of the conversation, here to a topic they have discussed earlier, the high population in Hong Kong.
in the case of Hong Kong = In Hong Kong, for example.
density of population = ratio of population to the area on which that population lives. To calculate the density of population, divide the number of people by the area on which those people live.
marvelous, terrible
immigration = movement of people into a country, in order to stay and live there. It is the opposite of emigration, movement of people out of a country. (Compare the opposition between import and export.) The difference between immigration and emigration divided by 1000 is called net migration.
freedom of immigration = freedom to immigrate. See freedom of choice above.
in close juxtaposition to = very near, very close to
if it weren't Contrary-to-fact condition. See &
Friedman says it would exist. It would be a place, but it wouldn't be the same. He doubts very much that it would have the same kinds of economic policies if it weren't very close to Communist China.
Friedman then goes back to Conable's real question: what policies would he recommend for the US? He does not want the U.S. to have the physical circumstances of Hong Kong — the over-crowding and the lack of resources. — but he is in favor of the U.S. having Hong Kong's economic policies. Friedman recommends completely free trade. This means: no tariffs, no restrictions on what can be exported, completely free exchanges of money, and so on. He would also like the U.S. to have much less government regulation or much greater degree of freedom from government regulation. Notice how he emphasizes lesser to show that this and not "greater" is what he really wanted to say.
180
would exist Friedman uses the conditional because he means, Even if Hong Kong were not close to China, it would (still) exist.
very dubious = very doubtful, unlikely (See &)
zero tariffs = no tariffs
restrictions (See above)
monetary transactions Here, exchanging money between different national currencies, e.g., US dollars (USD) for Hong Kong dollars (HKD) and back.
far greater degree . . . far lesser degree Much more/Much less regulation (See "regulations" above)
third-party effects Consider a factory that pollutes the water and air. It sells its product; somebody buys it. These are two parties, or participants, of economic transactions. People who live near the factory are a third party. They don't buy the factory's products. However, they pay a kind of "price." They fall ill because of the pollution. The price of their houses goes down because the water is polluted, so if they have to sell their house, they lose money. These are "third-party effects." They are also called "externalities" because people who live near the factory are external to the economic activity of the factory. (See http://en.wikipedia.org/wiki/Externality.)
pollution Here, making nature dirty. or hurting the natural world. Air pollution. Pollution killed all the fish in that river. The verb form is to pollute.
I think we're not [handling them the right way]. Only the auxiliary verb needs to be repeated.
Bob, the beginning of Milton's agenda Note how McKenzie call these very important people (a big business executive, a famous economist) by their first names.
big business Sometimes capitalized (Big Business), the largest and most powerful corporations, especially in the U.S. The phrase is often used negatively, implying that these top corporations are too big and powerful, and place their own interests ahead of the interests of the people and the country.
agenda Originally, list of things to be done or (as at a meeting) to be discussed. What is today's agenda? Here, a list of policy proposals.
quotas Here, an economic term meaning a limitation on the number or amount of something that may be imported. Import quotas. Set a quota on auto imports, clothing imports.
wear that kind of policy Here wear [irregular verb: to wear, wore, worn] is an informal British English expression meaning "agree to" or to accept. Normally wear is not used in this way in the U.S.
policy A position or course of action supported by a person or an organization. A government policy.
Galvin thinks that all kinds of business, big as well as small, would accept a completely free trade policy if other countries also accepted such a policy. He says that other countries and businesses in other countries are "socialized institutions." This is a strange use of the word "socialized." He means that businesses in other countries are closely connected with the government and receive a lot of government support. Socialized institutions are very different from private institutions, such as American businesses. If American businesses have to compete against socialized institutions then they need help to balance the government support of foreign businesses. They need a balancing factor.
balancing factor = a policy or mechanism that would balance a situation that is out of balance.
trade against This is a mix of two phrases: "trade with" and "compete against." He means: "We have to compete, in our trade with the rest of the world, with other businesses who also want to trade and who can offer better prices because they are supported by their governments."
socialized institutions Here = government-supported for-profit institutions, or simply government-supported businesses. Calvin calls them "socialized" because he wants to imply that they are similar to "socialist institutions." "Socialist" was a bad word in the American political language because the Soviet Union called itself a socialist country. In the Soviet Union, all businesses were not just supported by the government but simply owned by the government. It was illegal to have a private business. Galvin cannot say that European private businesses are "socialist" because they are not owned by the government, but he calls them socialized. Some big businesses in Europe and the UK were, in fact, owned by the government, but many of them have been sold to private owners, because private businesses are usually more efficient.
different than = different from
private here = independent from the government; not public
It is clear that private institutions are more efficient than socialized institutions. Clearly, they can operate more efficiently. However, they cannot compete against artificially low prices from socialized institutions. Those prices are artificial because they are not decided by a free market. They are low because they are subsidized by foreign governments. Foreign governments use government money to subsidize their businesses. Galvin is not for protectionism. He is for creating rules of international trade. Such rules would not allow foreign governments to subsidize their socialized businesses. The rules would prevent the governments from subsidizing.
imposed upon Here, forced to compete on unfair terms.
artificial Not natural, man-made.
across the seas He probably means Europe and Japan, two main competitors of American business at the time.
protectionism A policy of protecting your country's business from competition from other countries. Protectionist policies include imp rot tariffs and quotas and export subsidies.
rule of the road = traffic rule. The phrase is often used metaphorically for situations in which many people act and there is a possibility of collision. Here it is for rules of international trade. International trade is like a road on which many businesses travel, and they have to follow rules of the road.
prevents from Stops from happening. Prevent fires. Try to prevent a war. The noun form is prevention.
subsidizing Help an organization or the like with money.
taking advantage of Taking advantage of something is not bad. (Let's take advantage of good weather and go for a walk.) Taking advantage of somebody = Unfairly benefit or profit from somebody, at somebody's expense. (He is taking advantage of your kindness. = He uses your kindness for personal profit and causes you harm.)
Common Market = European Union. It now has 25 members.
engage in ... socialized institutions This is a strange use of the verb"engage." Usually it is used with activities: Engage in espionage He means: "They engage in actions that are typical of socialized institutions."
most dramatic Here, it simply means "They are very much socialized; the governments give a lot of support to businesses."
by restricting trade This is a Gerund form of the verb restrict. It follows a preposition, the way nouns do; and it has a direct object (trade) the way verbs do.
measures Here, means of achieving something.
describe Give a fairly detailed account of something. Noun form: description.
imitate Copy someone's way of speaking or acting. Noun form: imitation
would get a job Several examples of conditionals in this passage. Two contrary-to-fact conditions are discussed: What would happen if Friedman's mother immigrated into the US today, and there were no tariffs.
get a job doing X = get a job in which you do X. Get a job sewing, making computers, cleaning houses, taking care of older people.
nothing but = Only
McKenzie says: Yes but you have a problem. The problem is in front of you, in front of your face. You have to face it. The problem is this. You argue for certain policies. They are conservative policies. Usually, businessmen and conservative politicians support conservative policies. However, here you have a leading businessman and a leading conservative congressman who are against your proposal to have completely free trade.
Friedman's response is difficult because it is half-serious, half-a joke. He says that the worst enemies of free markets have been industrialists and university professors. He is a university professor himself, so other professors are his colleagues. He doesn't really think that they are the "greatest enemies" of free enterprise, but he does think that they are enemies. He also says that many university professors, after working in academia, end up in government. This is not really true, but he has to answer McKenzie who spoke of an industrialist (Galvin) and a leading conservative congressman (Conable). Conable never was a university professor, he was a lawyer. Many people in government are lawyers.
Yeah Informal way of saying "yes." In fact, "yeah" is much more common in conversation than "yes." McKenzie says the word with the intonation that implies doubt: "Yes, that's what you say, but there is a problem ..."
you face the problem = The problem is right in front of you. You have to face the problem = You cannot turn away from the problem, you have to deal with it.
leading = Most important
sweeping away Literally, cleaning off with a brush or a broom. Figuratively, as here, getting rid of, eliminating.
enemies Opposite of friends.
prescription Literal meaning: a written order for a medicine or treatment. Figuratively, as here, a strong recommendation, often for solving a problem. A prescription for success. A prescription for peace. Verb form: to prescribe.
academic = Having to do with higher education.
my academic colleagues = Other people working for universities. This is a very polite expression.
end up in government = After doing something else, start working in government.
Industrialists and university professors oppose free market for opposite reasons. (McKenzie says that Harrington would agree with that if he were speaking now. (Harrington is a socialist and opponent of big business. Like Conable, he is a lawyer, not a university professor) Friedman says that people like Harrington and his academic colleagues want many kinds of freedom for themselves. They want free speech, freedom to write and publish, freedom to research whatever they want. However, they don't want to give the freedom of the market to businessmen. They want to regulate the market. They don't like those "awful businessmen." (Friedman quotes the opinion of his academic colleagues. Friedman doesn't really think businessmen are "awful." This is a kind of joke. He is being sarcastic.
For opposite reasons Industrialists oppose free markets for one reason, while "academic colleagues" oppose them for another reason, and those reasons are totally different.
I guess = here, I suppose, I think. More common in this usage in American English than in British English.
freedom to write, etc. (See &)
to do research same as "to research"
awful Original meaning = making one afraid (or filling a person with awe). More commonly, very bad, terrible, horrible.
special privilege A little redundant, or repetitive, since a privilege is in itself a special right or advantage others don't enjoy. The senior students have dining privileges. Also, in an extended sense, a great honor, typically used in very polite phrases like: It was a privilege to meet you. It's been a privilege studying with you.
Congress/Congressmen The U.S. has two "houses" that together make laws for the country. Congress refers to them both, but congressman or congresswoman only refers to a member of the House of Representatives. (Ex: Representative Smith = Congressman Smith. Senator Ramirez is a member of Congress.)
to get elected Passive (See F11 Hong Kong 239)
performing favors Much more commonly, doing favors. In American English, a favor is a an act of kindness or generosity beyond what is expected. Do me a favor, hand me my glasses. That congressman did us a lot of favors when he was in office. Note that favor has a different meaning here than in the expression to be in favor of. (See F13d Limited Government 0)
by performing favors Another example of a Gerund phrase.
constituents The voters who live in a politician's district. (Another word for a politician's district or for these voters is constituency.)
So, if we completely eliminated all tariffs and reduced government controls, it would not be in the self-interest of Conable, because Conable would have to vote to eliminate tariffs, and his constituents would not re-elect him. It would not be in the self-interest of Calvin because he wants tariffs to protect his business. Friedman thinks it would be in the interest of Harrington. He does not say why he thinks so. Probably because eliminating all tariffs would result in greater unemployment, and more workers would join Harrington's socialist organization, Democratic Socialist Organizing Committee. Note that Friedman has "the very greatest respect" for Conable, simply "respect" for Galvin, but he doesn't say that he has any kind of respect for Harrington.
McKenzie then asks this question: What do the American people want? Will they support Friedman's policies? Friedman has said that congressmen get elected when they give the people what they want.
if . . . you were to wipe out = if you wiped out. A more formal, less conversational way to form contrary-to-fact conditions. In this pattern, were + Infinitive is used instead of the past tense in the "if" clause.
to wipe out Here, to do away with, to eliminate
for whom I have the respect Friedman accidentally left out a word here, probably greatest, as above.
will wear (See wear above226 )
you're saying, in effect = What you are saying can be said more briefly or more simply as follows: ... .
So if we have tariffs and government controls, it must be be because the people want them and don't want your policies. They don't understand the advantages of free trade.
Friedman answers that the major purpose of his life is to change people's minds. He wants people to tell their congressman or congresswoman clearly that they are not going to vote for them -- and so they will lose their jobs -- if they keep on voting for tariffs and controls. He then makes the point that congressmen aren't really very different from businesspeople. They both have a product "to sell." (In the case of Congress, the "product" is a law or a policy.) Friedman tries to change the minds of the consumers of that product, the constituents who vote for or against a congressman. His analogy is incorrect: he is more like an educator who is trying to persuade consumers not to buy McDonalds hamburgers (tariffs) but buy healthy food (free market) instead.
McKenzie turns to conversation to another participant, Governor Peterson. Peterson is an experienced politician. He used to be Governor of the State of Delaware. He is no longer Governor, but it is polite to use the title even after the person is no longer in office.
aren't you saying that ... = You're saying, in effect, that ..., aren't you? Negative questions like this expect a positive answer.
my whole function and purpose A little exaggerated, perhaps, but Friedman is saying that the whole point of, or entire reason for, his life as an intellectual and public figure is to try to change people's minds about the free enterprise system.
persuade someone to = Talk someone into
profitable (See F11 Hong Kong 63)
make it clear that Express oneself in a way that's easy to understand.
gonna = Going to. Are you gonna come or not? = Are you going to come or not? Very common in informal spoken English, a little surprising to hear it in this formal setting.
to appeal to Here, to try to be attractive or liked. Compare adjective appealing. Her music appealed to people all over the word = Her music was appealing to people everywhere.
They've got a product to sell
engage in = to be involved in (See 288 above.)
very experienced = Has a large amount of experience
politician Person who is involved in politics, the activities connected with government, especially in a democracy.
Grammar topics:
Expressions:
make the most of, take for granted, move to another job; take place; seize the opportunity, bear the cost
Vocabulary:
haven; despite; population growth; natural resources; standard of living; exploitation of workers; fourfold; competition; profitable; adapt; adjust; transaction; cost; benefit; incentive.
In this exercise, you are given two sentences. One sentence describes a present condition, the other gives the time when this condition started. Combine the two sentences into one using a time adverb with since. Note that you can combine since and before, as in "since before the Great Depression"
Given: All American workers work an eight-hour day. This started in 1938.
Result: Since 1938, all American workers have been working an eight-hour day.
This exercise is like exercise 1 except the second sentence gives the event that started the condition. The word since is followed by a clause, not a phrase.
Given: John studies ten minutes a day. It started when he got a high grade on the last test.
Result: Since he got a high grade on the last test, John has been studying ten minutes a day.
Add the adverb of time "for" or "over" and change in two ways: (1) from the progressive to the perfect progressive and (2) from the progressive to the perfect.
Given: Unemployment is increasing. 6 months.
Results (1):
For the last 6 months, unemployment has been increasing.
Over the last 6 months, unemployment has been increasing.
Results (2):
For the last 6 months, unemployment has increased.
Over the last 6 months, unemployment has increased.
Make sentences from the phrases below, making the verb (1) Simple Past and then (2) Present Perfect. In the Present Perfect sentences use since if the adverb specifies the starting point, and for if the adverb specifies duration.
Given: 1930, many businessmen, lose their money
(1) In 1930, many businessmen lost their money. (Simple Past)
(2) Since 1930 , many businessmen have lost their money. (Present Perfect)
Given: 50 years, many banks fail
(1) Fifty years ago , many banks failed. (Simple Past)
(2) Over the last 50 years, many banks have failed. (Present Perfect)
Given: The city solved its housing problem. It built a lot of affordable apartments.
Result: The city solved its housing problem by building a lot of affordable apartments.
Given: If the demand goes down, Mr.Chung will soon get that message.
Result: If the demand went down, Mr.Chung would soon get that message.
Answer true or false. If the statement summarizes the film clip correctly, say or write "Yes, it is true that..." or "Yes, Friedman says that/claims that/tells us that... If it summarizes the film clip incorrectly, say, "It is not true that... In fact..."
(1) Practice with individual expressions.
make the most of. This exercise just provides more sentences that use the idiomatic expressions in the film clip. To make it more interesting, finish the sentence as indicated in italics.
(1) Practice with individual expressions.
take for granted
(1) Practice with individual expressions.
move to another job
(1) Practice with individual expressions.
take place:
(1) Practice with individual expressions.
seize the opportunity
(1) Practice with individual expressions.
bear the cost
haven; despite; population growth; natural resources; standard of living; exploitation of workers; fourfold; competition; profitable; adapt; adjust; transaction; cost; benefit; incentive;
Replace the blanks with a word from the vocabulary list above.