Thank you soo much for this! I can now understand economics.
@beemo92 жыл бұрын
I'm confused, it says at 5:27 that the net effect on the economy is zero, but 2 sentences later he says "the overall wealth of the economy is $200 less". Which one is it?
@dheerajmaske11942 жыл бұрын
Taxpayers (Baker) don't know what is good for them. So politicians/Rich people have to choose for them. Give this a thought.
@freeinhabitant763 жыл бұрын
Wow, we need more of this content. Why did you stop posting?
@angelosenlob43283 жыл бұрын
bravo
@schiessl694 жыл бұрын
What if the glazier buys a new suit with his $200?
@MrFernandotti4 жыл бұрын
While the music and tone of voice could have been better, the content was good. Thank you
@IknowIamafool4 жыл бұрын
Thanks for the explanation Sir.
@bobkatwu36824 жыл бұрын
People knew that the earth was spherical before Columbus trip to the Americas.
@ouimetco4 жыл бұрын
Great information and actually I was suffering from one fallacy... the broken window example corrected my thinking. However I feel like I was at a funeral the whole time jajajaja
@Shivdotb4 жыл бұрын
I’m really feeling to sleep 😢
@user30864 жыл бұрын
Get to the fucking point already jeez
@someones55515 жыл бұрын
.... punish the vandal i don't know why I found that pause funny lol
@soapbxprod5 жыл бұрын
Send your kids to Hillsdale College! Austrian Econ is TRUE Econ!
@DaemonKrusher6 жыл бұрын
Thankyou was enlightening
@phantomfury76526 жыл бұрын
BRUH I SLEPT WTF IS THIS?
@silablago77817 жыл бұрын
Boring, nothing personal, dude
@PreciousBoxer7 жыл бұрын
Congress needs to be immediately replaced by an app. The war on drugs was never about drugs and the scientific approach has been corrupted to preserve politicians power. People are socially engineered and forced into Pay To Play bad policies when Friedman advocated we all be Free To Choose. Nobody can spend somebody else's money more carefully than you can yourself. Work = Force X Distance and people should be paid to put a stop to bureaucrats with a Negative Income Tax implemented in the form of a UBI or something. Those on the hill have tools to use, but so far they still choose to abuse US again and again and again...
@mrty52134 жыл бұрын
Did you say ubi lol?
@rolandwarren38347 жыл бұрын
Saaaah boring, what is going on for the first 3 minutes? get int o the stuff!
@niupaidanui8 жыл бұрын
The cartoon politician has orange hair and hands waving!
@dr.postgraduatechannel65158 жыл бұрын
top video ever !!
8 жыл бұрын
wow, that almost unbiased and not oversimplified in any way...
@super0roman18 жыл бұрын
Thank you for this video. I would like to learn more about economics and government systems/policies. If anyone has any good sources, please share them with me!
8 жыл бұрын
Take a look at CrashCourse, it's pretty awesome
@djamalInfo8 жыл бұрын
Naked Economics is a good book to start with
@joelyntison52878 жыл бұрын
haha! the ending is unexpectedly the best!
@peterjaketalkswrasslin69208 жыл бұрын
That last part of this is pure gold.
@nupian069 жыл бұрын
LIFE is simple, knowing wrongs from rights that all it takes lol
@nupian069 жыл бұрын
great work, thank you very much.
@lagransiete19 жыл бұрын
pile of horseshit
@M0j0S0D0pe4209 жыл бұрын
My cat is an economist.
@nustada8 жыл бұрын
+M0j0S0D0pe420 What is your cat's name, I am convinced it knows more than Bernie or Trump. I will write him in on the ballet.
@Sagemaster009 жыл бұрын
Someone send this to Bernie Sanders
@CoomerGremlinDGGfan9 жыл бұрын
+Elephant #feelthebern
@Sagemaster009 жыл бұрын
+scabies Pretty sure thats the scabies on your ass my friend
@TheKiwiColonel8 жыл бұрын
+Elephant There's nothing wrong with Bernie. He's simply proposing to move the spending from military and other things to college? So it isn't really him being stupid. Simply diverting the opportunity cost.
@usaalways8 жыл бұрын
+KiwiGaming Ahhhh but you missed the basic point of this. Go watch it again. That "basics" mentioned here are during peacetime. While it may seem so, but China and Russia are advancing, while here We have many, many ways to get college tuition other then federal gov't. So yes there is EVERYTHING wrong with Bernie as He isn't telling you the global threats that are real...
@cadethumann86058 жыл бұрын
+usaalways Did you really need to add that "aahh"? It just made you seem condescending. You could have gotten your point across without it.
@vincenzoaureo60609 жыл бұрын
This music and his voice almost made me fall asleep
@TheKiwiColonel8 жыл бұрын
+VinentPlayz lol
@YEETSWORLDWIDE9 жыл бұрын
Weird. I came out of North Korea and that definitely isn't how we tend to operate.
@florisplaysgames9 жыл бұрын
My father is a economist.
@tenzindakpa75009 жыл бұрын
why use bob acri music with this, made me feel so sleepy lol
@fukimimatt9 жыл бұрын
+Tenzin Dakpa yeah I feel like a punk rock song or some dubstep would really get people into the topic XD
@sailoriro88548 жыл бұрын
me too
@siriusalpha79089 жыл бұрын
person on the pictures member of reptillian brotherhood
@dontamputate9 жыл бұрын
THE LESSON!
@RaymondReise9 жыл бұрын
this is some deep shit...
@adilmohammed61469 жыл бұрын
Raymundo Garza LOOOL
@paulgrewe10 жыл бұрын
Interesting: but it's not a lesson in Economics. It's a lesson in one, now discredited, school of thought. This video is comparable to a history of "Young-Earth" philosophy. The history is OK, but the economics is all wrong.
@Altcapball10 жыл бұрын
Saying that something is discredited is not what makes something valid or invalid, nor is comparing something to a discredited concept comprise of an actual argument.
@ArmandoBellagio10 жыл бұрын
What about morals? I mean forget about good or bad for economy, breaking something is still vandalism
@toddlavigne644110 жыл бұрын
excellent video and explanation
@odalrich110910 жыл бұрын
To RFPD2010. Man, you ought to dedicate yourself to Agitprop politics; that video is a political programme, nothing to do with economics. Ayn Rand's "philosophy" is just a "moral" guide for sociopaths. What is not seen in your video is that I waisted my precious time and there has not been any intellectual gain and, in the long run, no economic profit.
@Altcapball10 жыл бұрын
Considering that much of Rands extrapolations are dirivative of Aristotles philosophy it is interesting to note that none of the people making this argument ever have the balls to directly attack the source with the same tactics. For some reason when he holds the same position he is expousing uncontraversial wisdom, but if Rand paraphrases it, its sociopathy. The common denominator though that I find betwen those that make these arguments often through the patterns by which they speak of the topic leak their inability to cognizantly understand the philosophy of either one of them. Beyond that, could you point out what part of this argument has anything to do with Rand?
@chuckevans791710 жыл бұрын
This is the conclusion that shortsighted people often reach. Just because Economics does not support these actions that are in the "don't do" column of your agenda, doesn't mean that other purposes besides trade are not served by them. A government is not a business, not a family and not balance sheet. It is a entity designed to provide a balance between freedom and responsibility, free enterprise and provision, and to do for all what one person cannot do alone. If you believe this position as you suggest, give back your social security check when you become eligible. Then wait to see who says "thank you". None of the conservative opponents of social engineering will say it. They will quietly think you are simpleminded.
@jePelletier10 жыл бұрын
So simplist vision of a much complicated world
@smh990210 жыл бұрын
So in other words the world has a finite amount of resources and money. No shit.
@siriusalpha790810 жыл бұрын
money = fake happines money is created enslaved weaklings
@TheNoraa89010 жыл бұрын
Money will always exist! Money can be defined as anything of value. A lemon can be used as money. A coupon can be used as money. A piece of stick can be used as money. Ayn Rand "if money money is the root to all evil then what is the root to money"! People like you are special and always dreaming you think the world can be prefect your way! Got news buddy nothing will ever be perfect very simple fact every common person knows today!
@siriusalpha79089 жыл бұрын
***** shut up capitalist bastard ı hate peoples like you money worshipper blinded by american idiocracy your world ending !
@siriusalpha79089 жыл бұрын
my nick beatiful than your Abc123131 are you learning alphabet and numbers ?
@siriusalpha79089 жыл бұрын
Your life essence is Money your are pathetic weakling go eat trees paper from tree money from paper and your western idiocracy ends here...
@OMGmyFACE9 жыл бұрын
siriüs alpha Associating money with happiness is stupid but saying it's the root of all evil is just as bad. You like clothing, having a place to live, maybe a pet, eating every day? Well, either you gotta go off the grid and be a homesteader and try your luck at a bartering life with as many survival skills as you've accrued over the years or you need money for trading. You can't eat money or apply it to your wounds but treat it like salt or chocolate or butter for instance - I trade this unit of money for that unit of not being homeless, hungry or sick. I call that happiness.
@siriusalpha790810 жыл бұрын
money is weapon of reptillian humanoids Soul is everything
@siriusalpha790810 жыл бұрын
why economic persons always smile like a fake happines? things are very strange
@stephenarling16675 жыл бұрын
You might smile too if you could make a good living regurgitating flimflam.
@lithelily10 жыл бұрын
This is not an economics lesson, it is a political agenda. Thanks for nothing.
@oogs9 жыл бұрын
+lily economics is in direct correlation with everything, especially politics
@clay077706 жыл бұрын
@GravitySmashify It's a summary of basic economic theory by primarily Hazlett. You sound absolutely ridiculous. I think my former micro and macro economics professors would agree... Keynesian/contemporary economic theory is NOT the whole of the subject. You have a very narrow view of the subject it seems to me.
@clay077706 жыл бұрын
@GravitySmashify My philosophy professors for example, would NOT explain it every day when they argue from a position that they did not create and don't necessarily agree with. They would only explain that to the stupid students who somehow think that the teacher has adopted the view. The agenda of the video is to spread a summarized version of Hazlitt's work based on his own interpretation... What is the fuckin' issue with that?? Plus between you people, ya cant figure out whether its the maker of the video you want to critique or Hazlett himself.
@clay077706 жыл бұрын
@GravitySmashify No man.... Just no.... If people are smart enough to understand economics of any school, they are smart enough to discover that this is about Henry Hazlitt's BOOK by that title and this is " - A basic lesson" concerning HH's book (or whatever it said in the title)...
@waneagony6 жыл бұрын
@GravitySmashify Hazlett's book is titled "Economics in one lesson". Know what you're criticizing, my fellow 'Smasher'.
@luciencharette859911 жыл бұрын
Mr. Harper; as the leader of our Country, what will it take for you, and our other party leaders in Canada, to believe, and implement laws, to protect these simple truths? We need Government; not figure heads." No punn intended "
@randy10911 жыл бұрын
I got my Econ Degree in '77. I wasn't introduced to Hazlitt and Von Mises (Bastiat, et al) until much later. In the 70's it was all "Keynesian". The Austrian School, however harsh, opened my eyes as to the true nature of Capitalism. Many people are quite fearful of Von Mises' simple truths and it's easy to see why...
@connor94236 жыл бұрын
Thanks for sharing this. I'm set to get mine this April (2019)... Not much has changed. Almost all the macro economics classes focus their teaching on a Keynesian approach. I never heard of Hayek, Mises, and hardly even Freidman until I got a job, and a colleague at work recommended Milton's work "free to choose". In my final macro course there was a mention that Keynesian economics is now being rejected, and a more "bottom-up" approach is being used in macroeconomic academia... But from the courses I've had this year it seems keynsian school of through still dominates. A friend of mine took a political science course "theories of democracy", the course text featured essays from both hayak and Friedman on the ideas of "protective democracy", but they didn't cover that material...
@soapbxprod5 жыл бұрын
BRAVO! Samuelson was a Communist.
@vergeREVO4 жыл бұрын
This true, basic, wise approach makes perfect sense. Bastiat was the foundational work for me 25 years ago. This economic concept of liberty to innovate, but with ethics and wisdom... is so necessary to correct the destructive trajectory our nation has been on.