It would help a lot if the books and papers mentioned in the video would be written in the description below! :D
@schieperss6082
4 жыл бұрын
help yourself and write them down
@cynthiasilveri
4 жыл бұрын
Agree because often I don't know how to spell author names. That matters to find some of them.
@adnannajeeb5619
4 жыл бұрын
Tarquin The Rotter Hahaha, no I will probably do it the next time!
@janfijor3063
4 жыл бұрын
Great lectures! And the tragedy of undereducating of the Nobel prize committee in selecting laureates. Thank you go revealing this to us.
@purpleivory2
4 жыл бұрын
"Compared to what?" The one question that statists never ask.
@immaculatesquid
4 жыл бұрын
zerocooltx a simple misread of human nature can have you there very quickly. or hatred of humans as a species. obviously easier to just mistake humans as perfectable, but i'm sure a lot of lefties are just hateful and resentful cesspools of emotion.
@NaderHasanMD
4 жыл бұрын
The fact that this man does not have a podcast is a market failure.....
@imajinl.
6 ай бұрын
This tbh
@ScoobySnackRocks
4 жыл бұрын
My dream would be able to see these lectures in person but for now I will just "KZitem" it. XOX Mises Institute !!!
@dustymiller2912
4 жыл бұрын
This video displays a fundamental misunderstanding of the reason why those who oppose free markets do so. It's not because of an honest inability to grasp the principles of economics on their part. It's because they don't _want_ to accept the truth. Opposition to free markets is driven mainly by two things: a deep resentment of those who succeed in free markets, and a strong desire to run things. They believe they can do better because their egos demand it, and because _they want to be on top, telling the producers what to do._ In other words, they're acting in bad faith, so any and all pro-capitalism arguments you can give them are completely ineffective. They're not open to persuasion because they've already decided what they will believe, evidence to the contrary be damned. This is precisely why so many self-styled intellectuals are pro-statism. They feel superior to those they perceive as their intellectual inferiors but who nevertheless are more successful than them (witness the ubiquitous stereotype of the crass businessman, as opposed to the refined sophistication of the intellectuals). The "intellectuals" truly believe they deserve more, but they can't compete in a free-market economy, so they desperately want to change the system to one where they have control, where the "intellectuals" tell the former captains of industry what they'll be allowed to do and how much they'll be allowed to profit, whether they'll even be allowed to operate at all, etc.
@immaculatesquid
4 жыл бұрын
Evil is defined as voluntary suffering, completey engineered by design. The Precursors to evil are resentment and or arrogance. A great way to breed resentment, is to divide into factions, what the founders warned us about. Black, White, Man, Woman, Gay, Straight Democrat Republican. It's all faction building and designed to pit people against eachother and make them hate eachother. The other precursor to evil is arrogance. A good way to breed arrogance is to distance people from the implications if their ideas. Think about California and how LA and San Francisco impose their values on everyone else but they never have to suffer like the rest of California. Think about every inner city where the people vote 70-80% democrat and they're in permanent echo chambers. People can only break out if they see it, and desire to be free. The Hard Leftists do not, but many good willed people are simply mistaken.
@MBarberfan4life
4 жыл бұрын
As David Friedman points out, even if we grant that negative externalities and market failures really are a thing, who are you going to trust to fix those failures? Not the public sector.
@immaculatesquid
3 жыл бұрын
exactly. but only like 30% of the population is mentally capable and interested in having that discussion, and the other 70% votes.
@YashArya01
2 жыл бұрын
@@immaculatesquid I was thinking about it and I'm concerned it may be closer to 2% There are about 250 million adults in the US. I see no reason to believe that even 2.5 million (1%) of them properly understand Henry Hazlitt's Economics in One Lesson (which is a good benchmark for the kind of basic economics that everyone needs to know).
@jessesewell7922
4 жыл бұрын
Much of his lecture reveals the simple truth that some researchers and Scientists are sadly not wholly committed to truth. An ethical man would test and test his theories in the effort to prove his theory inadequate. This is how theories become laws. If men are uninterested in doing this it calls into question their commitment to truth, their integrity and usefulness as an academician.
@rebusd
3 жыл бұрын
Two thumbs up
@thegeneralist7527
4 жыл бұрын
Engaging speaker from whom I learned a lot, hence I am now a subscriber. I think there are many parallels between the evolution of life on Earth and economics. I must think more on this, but the idea that markets will fail is like believing all life will become extinct. Individual companies go bankrupt just like species go extinct, but life goes on. There is no guiding hand needed for life to evolve. There is danger in the genetic engineering of life, but also great potential. The danger is the unintended consequences of mistaken decisions are more likely to cause harm than good, much like most genetic mutations are deleterious and are very seldom beneficial. But the power of those random mutations to advance life has resulted in mankind. I think there is much to think about here.
@puppyupper4565
4 жыл бұрын
you have a lot to learn. If you think the abiogenesis of life came from primordial soup or that the universe came ex nehilo then you have been blinded by lies. The truth is out there. Leading cosmologist now understand the big bang to be impossible so they have developed string theory to postulate that there must be multiverses to explain the origins of this universe as the only explanation for this universe apart from multiverses is that there is a creator. Keep learning. Hopefully it will lead to your salvation by discovering the creator. JESUS. and then bowing down to HIM
@thegeneralist7527
4 жыл бұрын
@@puppyupper4565 Faith in God explains everything.
@remain___
4 жыл бұрын
@thegeneralist ok but to leave a real comment, have you ever read anything by Taleb? you might consider checking out his book "antifragile"
@anarchic_ramblings
4 жыл бұрын
You are exactly right. In fact Darwin was influenced by Adam Smith.
@mikewilliams4947
4 жыл бұрын
I have been parroting asymmetrical knowledge as a rule for a while. Thank you for helping get it right.
@Quietkitsune
4 жыл бұрын
I think 2008 would like a word re: asymmetric information not leading to market failure. Wasn’t that caused by investment banks selling bundled securities to each other with mislabeled contents purporting to be less risky and more valuable than they actually were? It’s one thing to say perfect information parity is an impossibility, but quite another to claim withheld or faulty information does no harm
@HNedel
4 жыл бұрын
No, it wasn't. It was caused by government demanding that banks make loans to people who would otherwise not qualify for a loan. Politicians found out that people who owned a home were well educated and had better jobs. So they thought it would work in reverse. Secondly, Glass Steagall was introduced to counter the federal guarantee on deposits. Glass Steagall was removed, but not the deposit guarantee. Moreover, the government created a market for all those securities through Fannie and Freddie, and the rating agencies put AAA ratings on those packages, not the banks themselves. The rating agencies are practically a government duopoly. The government demands that any new agency have 20 years of experience, when there have been the same 3 agencies for more than 20 years.
@immaculatesquid
3 жыл бұрын
@@thotslayer9914 wikipedia isn't the end all be all. both sides have truths in their perspectives about 2008. it's just harder for one side to blame the government and bankers and then turn around and ask us to give the power to government to fix it, so the other side just blamed it all on the bankers.
@jimgiokezas9944
2 жыл бұрын
What about environment, though? Once entrepreneurs have an incentive to stop destroying it, won't it already be too late?
@imajinl.
6 ай бұрын
Market failure is indeed a Nirvana Fallacy. Great talk as always, Tom.
@rickshafer6688
4 жыл бұрын
@11:20 explains Walmart. To big to fail because 1000 inventors came to the same idea concurrent. Such Statist malware.
@luisinfante909
4 жыл бұрын
Will be posible to add spanish subtitules please
@hipstertrudy3658
4 жыл бұрын
If you click the (CC) button near the bottom right an AI will autotranslate subtitles to language of ur choice
@AlexiusRedwood
4 жыл бұрын
@@hipstertrudy3658 lol
@jackdonnelly427
4 жыл бұрын
They laughed because the Czech pronunciation of the name Dvořak has double trilled r sound that sounds nothing like the English r
@jackdonnelly427
4 жыл бұрын
Tarquin The Rotter Yeah that’s actually as close as we can get with English sounds lol, so that’s technically right. There’s a difference though that English speakers can’t hear well.
@Roguedeus
4 жыл бұрын
Rerun?
@brianomoli4
4 жыл бұрын
I am an idiot yet I could debunk the lighthouse argument in 4 sentences.
@thegeneralist7527
4 жыл бұрын
I have to ask - please do! I'm curious what you think. Back to the idea of parallels to the evolution of life, I can imagine early sailors navigating by the lights of the port. As there was profit in safe navigation there would be incentive to create better lights to navigate by, and over time these would have evolved from simple light sources poorly placed to more elaborate and better placed lights? Do you think there is merit in this idea? How does it differ from your concept?
@GeekOverdose
3 жыл бұрын
11:51
@PaulHigginbothamSr
4 жыл бұрын
Thomas lives in a world of theory and not reality. He brings his half truths forward as whole. We humans operate together to produce reality not putting down that which we have no idea about reality akin to Ann Rand.
@immaculatesquid
3 жыл бұрын
I'm guessing he challenged your pre existing ideas so he must be delusional.
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