1 After Reading Books There is no doubt that the books Free to Choose: A Personal Statement and Become a Key

Person of Influence are interesting works dedicated to the sphere of economic studies and correlation of economic theory with modern business processes. The book Free to Choose: A Personal Statement by Milton and Rose Friedman concentrates on the principle of successful economic development of the United States and defines correct governmental policies which are able to facilitate this process. The book Become a Key Person of Influence by Daniel Priestley explores differences between the current and former business environments and advises entrepreneurs how to reach excellence and become successful. Although it seems that the described works are completely different, there are certain connections between their themes. Both works touch the subject of corporate social responsibility. Milton and Rose Friedman believe that corporate organization should serve achievement of results and development in the areas of interest according to the extent of interest. All the peculiarities of corporate structure should obey to this principle and improve performance of the company. It is important for executives to determine key values, priorities, goals and start implementing a concrete realistic business plan. The mentioned approach should be integrated in the effective business model that should be the main guidance of the company. It would benefit both the company and society because society develops together with businesses and generates more financial resources for social, cultural and other programs when economic progress is sufficient. Daniel Priestley also believes that corporate social responsibility is an important factor benefiting everyone: individuals, organizations, society. According to Priestley, corporate governance should be built on innovative ideas which are able to transform

2 business and upgrade it. Priestley is firmly convinced that modern business reality is based on ideas. He asserts that ideas are primary to production and should be the main object of attention of individuals and companies. Business models should be tightly connected with current realities and undergo changes corresponding business changes. Hence, Priestley teaches everyone to observe, learn and act. It is important to observe and learn in order to realize what changes take place and would take place in the future. Such a strategy helps to correct the course of corporate or individual business development and avoid lagging behind competitors. The process of acting and transforming is essential as well because business environment is altering drastically with time. If business owners fail to react appropriately and take the necessary adequate measures, their ventures would inevitably lose grip of the market and go bankrupt. Both authors mention business ethics, however, this subject is viewed from different prospects. The Friedmans dedicate their study to ethics of the government towards businesses and market. According to the Friedmans, it is essential for the government to support private initiative of enterprises and individuals without interfering and implementing a significant economic control. The Friedmans believe in free market that determines prices and stimulates a natural long- term economic development. Daniel Priestley describes the principles of business ethics in terms of persevering individual professional goals. He notes that it is important to acknowledge professionalism and achievements of other key people of influence. Key people of influence are the best in their micro- niches and can serve as a wonderful example of inspiration. The Friedmans and Priestley believe that freedom is the main value making positive economic processes possible. The Friedmans associate freedom of market and lack of economic regulations with further successful development. Besides, they are firmly

3 convinced that even prices should be free under the condition of a free market because prices are tightly connected with consumer capacity and other important economic exponents. Moreover, prices perform three functions in organizing economic activity: first, they transmit information; second, they provide an incentive to adopt those methods of production that are least costly and thereby use available resources for the most highly valued purposes; third, they determine who gets how much of the product- the distribution of income. There three functions are closely interrelated (Friedman and Friedman 31). Priestley also believes that freedom is important, however, he mostly proclaims an individual freedom enabling to generate ideas, act for the sake of their promotion, dare to do something completely new and dedicate life to loved occupations. There is no doubt that only free entrepreneurs are able to introduce something valuable and reach excellence in the chosen field. Priestley advises to organize life in a special way to feel this freedom and be inspired by it. According to him, it is much more useful to rest a week than work hard without any innovative thinking that is the result of extra stress, pressure and a huge amount of work. Naturally, the author does not praise idleness. He states that nowadays the greatest results are achieved not by those individuals who work hard but by people who are able to invent something new and attractive. Inventions are possible and more likely when mind is free and a person enjoys his professional life and life in general. The authors also discuss economic motivation as the engine of the economic progress. The Friedmans note that motivation is determined by business benefits of interacting parties. According to the authors, it is highly important to realize concrete possible benefits that is possible under the condition of a voluntary exchange. Wealth and development of the whole nation are dependent upon the mentioned peculiarities: If an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most

4 economic fallacies derive from the neglect of this simple insight, from the tendency to assume that there is a fixed pie, that one party can gain only at the expense of another (Friedman and Friedman 30). Priestley connects motivation with the idea of a key person of influence and the concept of vitality. Every person knows about key people of influence, they are discussed in society and are considered to be the best in their sphere: Their names come up in conversation ...for all the right reasons. They attract a lot of opportunities ...the right sort. They earn a lot more money than most people ...an it isn't a struggle. They can make the project successful if they are involved ...and people know it (Priestley 7). Becoming a key person of influence through own vitality is the main motivation described by the author. In general, I support the ideas expressed by the authors in both books. In my opinion, freedom is the main engine of progress and innovation because it stimulates creation, development and accumulation of wealth. Experience of totalitarian countries (e. g. the Soviet Union) proves this assumption. Besides, this concept also works on the level of individuals. When I feel freedom, I am more inspired to step out of my comfort zone and do something extraordinary. I am more likely to be open- minded, observe, learn and act. Hence, freedom is one of the main values that is essential for creativity, any development and success.

5 Besides, there is no doubt that ethics is essential in all spheres of life including business relations between individuals, corporations and the government. Moreover, it is important to have a strong motivation supporting efforts and progressive intentions at difficult personal moments of dark mood and hesitation. Economic motivation of a person is desire to achieve self- realization in the professional sphere and become the best in the chose niche. I fully agree with Priestley that it is the strongest motivation ever. However, a lot of people are afraid to pursue their goals with dedication due to previous failures, negative experiences, inability to create realistic and effective plans and lack of will power. Moreover, I support Priestley's idea that vitality is essential for becoming a key person of influence. Vitality is positivity, action and innovation together that is extremely important in any sphere of development. Vitality is desire to improve, produce and change quality for the better. I would definitely cultivate this essential quality in my own personality to generate more opportunities, ideas and upgrade my life. On the whole, both books are quality works helping to realize important economic concepts stimulating the further development. The Friedmans describe the concept of free market and prove necessity of economic freedom. Priestley gives valuable advices destined to transform an ordinary professional to a prominent leader known as the best in his microniche. I believe that these books can be informative and useful for any person interested in economics and the idea of personal development in economic continuum as well as progress in general. References Priestley, D. Become a Key Person of Influence. Ecademy Press, 2010. Friedman, M. and R. Friedman. Free to Choose: A Personal Statement. Houghton Mifflin Harcourt, 1990.