ANTONY DAVIES on Unintended Consequences: When Government Policies GO BAD

[@BlackLibertarian]

Antony Davies if you run for president, I would vote for you!❤

[@eod_dan5745]

I would love to have him in Congress, or even better Cabinet level!

[@BlackLibertarian]

@@eod_dan5745 Heh, a hundred bucks says that Trump doesn't make good on his promise to the Libertarian Party to "put a Libertarian in his cabinet". 🤣

[@MoreBollocks-ui2zs]

@@BlackLibertarian Like Trump knows what a libertarian is.

[@calorion]

@@MoreBollocks-ui2zs I mean, he came to the Party convention, so he knows at least *some* Libertarians…

[@MoreBollocks-ui2zs]

@@calorion All that proved was he's a desperate politician and someone who thinks libertarians are conservatives talked him into going. Your reasoning here is just bizarre, and I'm being generous by calling it reasoning. If you listened to his speech he doesn't have a clue about libertarian's. But then neither does the Mises Caucus and they're running the party .

[@ERRORhxc13]

Always a pleasure. He breaks difficult subjects down for any layman to understand. His "Why Government Fails" is #1 in my book.

[@pineapplefarmer7352]

Always glad to see Antony on

[@paulguion7174]

When I took micro and then macro economics back in college in the late 1980s, my professor gave us a graph of how inflation in the medical sector matched general inflation. However, when Congress enacted Medicare in the 1960s, inflation in the medical sector started increasing more than general inflation. This would be another good subject to cover!

[@macsnafu]

Professor Davies looks good and has a great voice for this stuff. Whenever people ask government to 'solve' problems, it's so important that they don't take actions that the problem worse. We have to understand that the main power government has is to coercively restrict or prohibit actions. I argue that there are always unintended consequences of prohibiting moral and voluntary actions, and that government coercion should be limited to dealing with involuntary actions that violate rights and liberties. Otherwise government itself is the agency that's violating rights and liberties.

[@SDsc0rch]

"I'm from the govt, I'm here to help " more dangerous words were never spoken

[@joshuagoldstein8116]

Just realized I'm running low on eggs. I need to perambulate to the commercial establishment with alacrity and determination.

[@briandoherty8337]

Yes you do and you had better get there before the tax increase goes into effect.

[@BlackLibertarian]

Your comment made me ROFL 🤣

[@Molandria]

(Laughs) I just woke up and your comment made me laugh my brain awake! thank you. :D

[@GoodCicero]

Are you positing that you are predisposed to expeditiously traverse toward the commercial establishment with indefatigable resolve and inexorable impetuosity?

[@XlPackratlX]

Yes, but you can't just buy the eggs. You have to make a sincere and honest transaction with the commissary in order to exchange for the desired comestibles.😅

[@Dirk-Digs-U]

The Cobra Effect is probably the first/most famous unintended consequences policy in modern history. The British government offered a bounty for dead cobras in an attempt to reduce the cobra population. Initially, this was a successful strategy; large numbers of snakes were killed for the reward. Eventually, however, people began to breed cobras for the income.

[@eod_dan5745]

Option 4 is outrageous! Thank you for talking about unintended consequences

[@Sandwichking-hikes]

Great examples of unintended consequences. Reminds me how benefits of hunting are counterintuitive. I deer and turkey hunt, I bought rural acreage and spend thousands of dollars and countless hours every year to increase food for wildlife, increase cover and bedding/nesting areas, reduce predators to increase wildlife populations for better hunting. A non hunter may think because I’m harvesting a game species I lower their numbers but the reality is only a hunter would spend the money and time boosting wildlife habitat because I have an incentive to do it that non hunters don’t.

[@daniellassander]

Its amazing how many people dont understand these things, when rules are imposed incentives changes, so people will act in a different way. Its well understood when it comes to crime for example, we impose punishments on those that breaks the law, so they are less inclined to do so. I had a discussion about this with a guy that works as a nurse here in Sweden where i live, its ran by the government and he was complaining about having to work on weekends sometimes, and he hated the idea of lowering taxes. So i told him, the point of lowering the taxes are so that people will be more inclined to pay taxes instead of putting their money where they arent taxed like for example the stock market. He just flat out refused to admit that it could potentially work. So i told him, "what if nurses dont have to pay taxes on the money they make on weekends?" he was "thats a fantastic idea, people will love to work on weekends now, it will never be hard to find people that can cover a weekend shift" so i just said "all i did was change the incentives a bit, it works when it comes to nurses so why not other people as well" to which he had no response, but hopefully i made him think a little bit.

[@joseluisvazquez5126]

In the political realm thus us even worse, because error correction does not exist. Politicians never admit any mistakes, and instead double down on the problem or patch it creating new unintended consequences.

[@GoodCicero]

This video provides an excellent explanation of how government policies can lead to unintended consequences. Thank you! However, the issue of pre-existing conditions was present even prior to the introduction of employer-sponsored health insurance. To mitigate this, many mutual aid societies established a waiting period, generally lasting from a few months to a year (or sometimes indefinitely), before new members could access benefits. This policy was intended to prevent "cherry-picking," where individuals would join only when they needed benefits.

[@AntonyDavies]

Thank you for the clarification!

[@aspensulphate]

10:41 "To make up for lost revenue, the federal government will either have to raise taxes or cut spending." If only this were true. Since the government has given itself the privilege of simply borrowing from the future, I.E., it's citizens and their descendants, it is easily able to fund any number of inane schemes. This is how inflation originates. In the private sector, spending beyond your means equals bankruptcy. In the public sector, spending beyond your means equals inflation.

[@terratrax]

Inflation is basically a hidden tax in that the government confiscates your labor through currency debasement. He covers this in other videos nicely!

[@bseer]

Related to the last unintended consequence is that college loans make college more expensive. If a college knows that $100 is all you can afford then the maximum they can charge is $100 but if they know you can borrow another $100 they can charge you $200.

[@jeffbroders9781]

I've been gainfully employed since I was 16 years old. I'm now 60 years old. I was always able to have health insurance until they passed Obamacare. It became too expensive due to my age and due to my income level. The limits on income are substandard when you consider high cost of living areas like California and New York.

[@AlmostEthical]

Moral of the story - politicians should spend more time researching policies and their potential policies than enacting policies. Outside of national emergencies, policies should never be rushed through without exploring "black hat" scenarios.

[@smokedbrisket3033]

Love it, Doc. India had, among a great many other things, the Cobra Effect.

[@Policy-Principle]

When is the book coming out?

[@23232323rdurian]

=> unintended consequence: abysmally low numeracy rates for High School graduates, and the adult public at large........ American kids are virtually guaranteed a High School Diploma. It's their at least in California. It's pretty hard NOT to get one for HS students in Cali anyhow. Most kids dont WANNA study math. N they KNOW they dont HAVE to. So they DONT. => in contrast ALL those same innumerates PASS their Driver's License exams.... cuz they are strongly motivated to study for the test...

[@chetdebarthur4841]

You'll never make it as a politician with an attitude like that! Good points.

[@EdwardCoblah]

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[@TheophilusGogo]

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[@chigbochinenye2600]

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[@stillbuyvhs]

5:05 True. But employer-provided insurance has become part of our culture. How do we reverse 90 years of cultural training?

[@25Soupy]

I attempt to explain these principles of unintended consequences to my liberal friends, they just can't seem to grasp explanation of evidence or just refuse to. They have a very high "one stage" thinking of things. If everyone is super then no one is.

[@GoodCicero]

While humans possess the ability to think rationally, our beliefs are frequently shaped more by emotions than by reason. The impulse to defend a belief is often more compelling than any evidence that may be offered.

[@fegolem]

I remember seeing videos of huge piles of ivory being burned. I always thought they should release it en-masse to over-supply the market. Make it less valuable, less interesting, less marketable. And then also do the management thing. Oh well.... It's all water over the bridge now.

[@tradefortutara9608]

Unintended consequences: "Sounds like a great idea, with good intentions. What could possibly go wrong?"

[@joelspaulding5964]

Price controls, rent control, minimum wage, all bad ideas- economically speaking.

[@j4s0n39]

To steal a quote from Homer Simpson: Government, the cause of, and solution to, all of life's problems.

[@Ms0321-b]

Antony is a very handsome man

[@benlund9850]

What gets my goat is that the politicians that pass these laws usually know the likely consequences. If they don't, then their opposition almost certainly does know and tells them so. The laws pass anyway.

[@paimfp]

Unfortunately, Brazilian politicians are far away for understanding even half of this idea... They keep creating rules for problems that were caused by other rules and the cycle continues...

[@LovingPrinceTamayuki]

Actually, employers don’t lord over employees if they don’t like the terms they can go elsewhere, it doesn’t usually work that way with parents and children now does it.

[@tylerproctor4878]

When you say less clean cars I am hearing used car. Which would have been driven anyway. I didn't hear any data on metric tons of carbon emissions. I think that is the first argument I have ever heard you make that I didn't think it was well supported. I'm not sure I agree with you on that

[@Mythhammer]

There are countless examples of consequences. But I question the unintended part on some. There is a book titled Unintended Consequences. Lets all hope we don't end up with that.

[@collinnicholasns]

The issues he proposed for cancellation of student loans are not wrong the issue is that this has already happened. Most college degrees are worthless and the cost has increased an insane amount in the last 25 years but people still go because it's free money and they are not told it is intended to keep them enslaved to the government that is why so many people pay on them for decades only to have made no progress on decreasing the balance they owe

[@xephael3485]

Don't trust Kamala with elephants 🐘...🤣

[@marcusmoonstein242]

I'd love to hear Antony's thoughts on the unintended consequences of Kamala Harris's proposed unrealized capital gains tax.

[@AntonyDavies]

It will have a devastating effect on entrepreneurs and venture capital. Venture capitalists put money into high-risk ventures because they hope to cash out when the venture goes public. But, if they have to pay taxes before they can cash out, they will have less incentive to invest because the investment will have an upfront tax cost, they will have less capital for other investments because they will have to keep cash on hand to pay for unrealized gain taxes, and they will face greater risk because an unexpected gain "on paper" will generate unexpected tax costs. And if the unrealized tax doesn't come with a corresponding credit for unrealized losses (which I've not heard Harris mention) then the negative effect on investors is greatly increased.

[@smithjoe321]

Excellent video. They both can co-exist, but I'm guessing Learn Liberty stole this idea from Reason?

[@BlackLibertarian]

And Reason stole this idea from Ludwig von Mises.

[@smithjoe321]

@ Well, that’s a bit of a stretch, I was referring to short KZbin videos on the subject.

[@BlackLibertarian]

@smithjoe321 the joke is that nobody "stole" the idea of informing the public of unintended consequences of laws. That type of thing has been going on for over a hundred years.

[@smithjoe321]

@ Fair enough, but I was referencing the short story format. Cheers!

[@BlackLibertarian]

@@smithjoe321 👍

[@nonyadamnbusiness9887]

The explanation of inflation in 1941 and 1942 leaves a lot to be desired. The cause was the same as it always is, the government was dumping money on the economy and in this case, restricting production of consumer goods at the same time. Too much money chasing too few goods, the same as always.

[@GryphonBrokewing]

You think making all taxpayers pay more isn't a feature? Not unintended at all. Financial subjugation. ANY "forgiveness" program that meant anything would have addressed the colleges charging predatory rates and fixed the loan structure so this didn't happen again.

[@MoreBollocks-ui2zs]

but government is always the answer. Doesn't matter what the problem is...

[@mrdonetx]

I could definitely do without the background music. An unintended consequence is me immediately tuning out. It's seriously distracting and out of place. There were no phones or waiting to speak to a representative. But I still tuned out until that representative got to me shortly.

[@johnd.5601]

Why not focus on what works?

[@calorion]

Why do you say that a labor shortage caused inflation? You know that's not possible.

[@brandenpratt1849]

Supply and demand. Fewer workers equals less production, less production equals fewer goods. Without enough goods to meet demand, prices inflate.

[@calorion]

Inflation is always and everywhere a monetary phenomenon. Without an increased money supply, if prices go up in one area, they must go down in another.

[@trishasabrina7278]

A labour shortage drives up wages, which drives up all the prices of the goods those employees produce.

[@calorion]

@@trishasabrina7278 Inflation is always and everywhere a monetary phenomenon. Without an increased money supply, if prices go up in one area, they must go down in another.

[@trishasabrina7278]

@@calorion absolutely correct, the money supply is the main cause of inflation but there are some good that if they go up, all goods and services go up, the main one being petroleum. In the 1970’s OPEC raised oil prices and inflation went through the roof. But normally true an increase in the money supply causes prices to rise.

[@briandoherty8337]

A teacher asking for ten pages and then blathering about using completely and comprehensive sentences as unintended consequences. Just proves that you have no clue as to the core of the law of unintended consequences.

[@user-ez5vq9fd2t]

Could you expand on that? What is the code of the law of unintended consequences in that example?

[@granitfog]

anyone up for cherry picking

[@AntonyDavies]

Name what's been cherry picked.

[@granitfog]

​@@AntonyDavies Any discussion of unintended cosequences needs to be contrasted quantitatively with intended consequences. Nearly every intervention will have both and only a head to head comparision will show the value of the intervention. eg: broken arm put in a cast as a consequence, couldn't use his arm, lost the guitar competition that was to fund his college, so couldn't get the job where he would have gotten the nobel prize by inventing a vaccine for malaria.

[@johnd.5601]

How about asking a mechanic what to do instead of an economist who could not fix their own lawn mower?