Neoliberalism as a Water Balloon

Theory of neoliberalism illustrated

[@martinbrown4891]

Now that is what you call creative and engaging modelling for better teaching.

[@shoopoop21]

But so much of it is factually wrong. Sooooo muuuch....

[@shoopoop21]

@Ned Kelly Every brick in every building in every city was laid by a man, and I can tell you from intimate experience that construction is a shitty, awful job. That's just the beginning. The slant starts at the peak, and cuts into women's half, because on top of the fact that more men work than women, women do not work shitty jobs, almost ever. They're more than happy to be CEOs, though.

[@2k13Ghost]

I can't tell if the video has deadpan humor in it, but it was executed so well, especially the balloon analogy. Thanks for the information!

[@markwilde5683]

I can confirm that the humor was indeed deadpan.

[@AbhishekKumar-er1tw]

Your video made my day, made me laugh , and clarified my concept.. You're very very creative.. Kudos..

[@LynAlecciaDinh]

I've been trying to understand neoliberalism for ages and this really helped me, thank you!

[@banan9782]

Not really Neoliberalism is infamously very hard to pin down and different people contradict each other on what neoliberalism is This doesm't go into deep enough or goes into practical results This video is literally a deadpan joke

[@megadog9305]

The odd one out was clearly gerbil. All the others had double letters.

[@brydie-leesheen9073]

That's what I said!!

[@mr.enclave10]

As a Turk, I may be the only person watching this video in my country and neoliberalism is so ridiculous that this video of yours explains it in the best way. If I If I ever become president, I will definitely make everyone watch this video.

[@agustinperezburgos6578]

this is brilliant! best neoliberalismo explanation con youtube

[@jayezquerro7434]

You really have a talent for explaining complex concepts in interesting ways. Great imagination and I loved your video.

[@auxordsold2265]

this is priceless... the balloon analogy is so on point! thank you.

[@grizlerber]

Tim McCaskell Canadian Human Rights activist. Edit: if you're wondering.

[@samuelcuellar1586]

LUV'D IT! nice lil intro I'll be showing to my homies so they can start to make some sense of their world. Thanks :)

[@mr.fabulousmegardev6256]

Wow... don't know why YT is recommendding me a 10yr old video, but this is so simple to understand!

[@kellyloganme]

An excellent set of simple examples that show some important ideas in an approachable graphic form. I particularly liked how the pyramid graphic clearly shows the meritocracy myth and the birth opportunity reality we live with in the US, and how this flows into the image of the balloon demonstration. Sharing with my friends to help inform them as well. Thanks for posting.

[@melollii4857]

I love the passive aggression while explaining this. It’s so entertaining 😂😇

[@NadeemMomenz]

Best educational video I've come across by far. You should replace Bill Nye lol

[@language_and_society]

Thank you for taking the time to prepare this video. very informative indeed.

[@venisapolu871]

thank you for the explanation.. brilliant & i finally get it now!

[@MrTawfee]

out of all the sources i tried to explain neoliberalism, this is the best one yet

[@lonecrusader9796]

Wow, just learnt that Neo-liberalism is a bomb.

[@m3chan1k]

Tulips, anyone...?

[@LucasSantos-zw9sf]

Could you open this video for translations? Most people in my country don`t speak english, and I want to make this video accessible for people here.

[@abnuridd24]

I look at the pin as being symbolic, what could be that pin that causes an inflated economy to collaspe?

[@luissoto1491]

The pin represents conflicts or External affairs that might affect the economy per say, AND the size of the balloon, well, considering how much crédito They pumped into the US when the market collapsed in 2008. You can only imagen the balloon size right now as we speak.

[@kurtisharder]

A virus lol

[@TrinityAura]

Love your style of illustration.

[@djobokuwali4316]

The Bob Ross of Economics, you're welcome.

[@nicynodle2]

Bob ross wouldn't spread propaganda XD

[@briasavanna9307]

Thank you! This video is so clear and easy to understand.

[@araelmeza8633]

Entertained and informative. Thanks for sharing!

[@TonyNguyenCat]

what does that pin you used to pop the balloon represent? things seemed to work pretty well

[@mr.fabulousmegardev6256]

9 years late, but... it means anything like repressions/depressions, global pandemics, anything that disturbs the delicate balance of consumerism from happening

[@Fishyalex]

The balloon isn't the economy. The balloon is an analogy for the economy. And that pyramid isn't how things work. It's an analogy for the way things work. His argument has so many analogies that what he is saying stops making sense.

[@ryana42]

Have you ever sat through an economics class? Its all hypothetical jargon. economics is taught based on conditions which don't exist.

[@justinchoy476]

Wait a second-we did this in the 1920s!

[@galumpha]

Hmm. It's hard to argue with this clever spectacle.

[@therevolutioncontinuesblog6182]

Fantastic analogy! Should be watched and shared widely.

[@hieda81]

Thanks for the video. it helps me understand the concept of neoliberalism. appreciate it.

[@Fauxklore23]

This is an amazing analogy. Kudos to whoever thought this up.

[@APenguinInATux]

His sarcasm is sooooo funny! The way he smiles when he said: "as long as the rich as happy" hahaha love the vid

[@LaxmiSingh-uy4fg]

Wow..very well explained 😄

[@dancy166940]

thank you for the great explanation!

[@eigenber]

@TonyNguyenCat That's a good question. I did not make the video. I think the pin was supposed to represent a point of insustainability illustrated by the growth curve drawn on the balloon. But it was probably a bad move. It would have been better to use a balloon made of weaker material and wait for it to rupture on its own.

[@Shack263]

I can't believe how applicable this is today despite being almost a decade old

[@Ryan-os1lx]

smart people saw this coming... unfortunetly society listens to the loudest people, not the smartest

[@daniellashukri551]

Thank you very much for a great explanation!

[@ntsibisengwilsonsebela8737]

Indeed that's my question, who is gonna clean-up the mess when everything get out of odder & the whole country experience the collapse in economy

[@AirFire18]

THIS IS AMAZING, THANK YOU !

[@niccuniccuniccu]

To mee the pin could represent an "unforseen/not calculated" effect which made the bubble burst, it could be interpreted as the relationship between theory and reality, where in thoery the balloon could be inflated infinetly, yet the more it inflates the more vulnerable it becomes to smaller and smaller shocks. (thats what i made out of it)

[@johnp2647]

can someone clarify as to why the balloon pops at the end? and dont give me some bs like'( when a needle comes in contact with a highly pressurized, and enclosed, elastic, easily punctured material the air tries to rush out of that one point of release so fast that... idc.) i know it has to do with something with debt being injected in the market having to be paid off in the end, but i dont know why exactly does debt have to be paid back. is it cause money wont have any spending power if credit is left unpaid in the market?

[@AndrBStr]

+john p Credit being pumped into the economy signifies bubbles in periods of boom and the bursting is the typical fall into recession after a period of growth.

[@kojosmith1210]

Very simple, cost of living keeps going up while wages stay stagnant. Eventually people can't pay back their loans. Once that reaches a certain percentage investors freak out and pull their money. This causes a domino effect and the whole system collapses. That's the needle

[@devinfaux6987]

That would be an economic catastrophe the likes of which the world hasn't seen since 1929.

[@Maxarcc]

This video is exceptionally good.

[@shanessinging]

I know this might sound stupid but can someone explain to me what the balloon bursting signifies. Does it mean the economy just collapses? and if so how is that happening and effecting everyone individually (in terms of classes)?

[@jonno.alexander]

I'm lost too!! The example was really good up until the last bit where credit was being pumped into the system, but I couldn't quite get what the bursting credit bubble is exactly. I felt like I almost understood but he omitted a final explanation of what that was to bring it all together.

[@ibyvrcrdd9903]

He means that when the banks pump more and more money(credit) into the economy through lending and increasing their own leverage, it means that when a shock or correctional event occurs (like the discovery in 2007 that all the major banks had huge amounts of 'toxic'(worthless) Mortgage-backed Securities on their balance sheets), a near-apocalyptic financial crisis would occur, and by that I mean Bank-runs at the minimum. This didn't quite happen in 2007/8, because Congress(who, due to corporate money in politics, have become virtually subservient to the interests of Wall st and Corporate America) authorised enormous Tax-payer funded bailouts (buying the toxic assets and injecting capital), which all added up now amount to $29trn dollars. That's what he left out I guess, the power system that will sustain itself by any means, and will ditch any supposed ideology if in danger. 'Neoliberalism' is also more than just a set of economic doctrines, it also incorporates theories of psychology, psychoanalysis, game theory and objectivism. It many ways it has defined the late 20th/early 21st century era. It's tenets are embodied in simply promoting more economic freedom and wider inequality of wealth.

[@devinfaux6987]

The balloon bursting is "Great Depression 2: Economic Boogaloo."

[@controldata972]

Credit bubbles are unsustainable and a parasitic drain on the real productive capacity of the economy. Compound interest payments on credit will very quickly get out of hand. In 2007/2008, the US Fed absorbed the toxic assets from the commercial banks , bailing them out and giving them the liquidity to continue operations for the real economy (paying wages and keeping ATMs going). What do you think would have happened if they hadn't done that? Gun ownership in the US is in the millions... No cash from ATMs, no functioning electronic payments system... supply chains breaking down leading to stores with empty shelves... "The Hamptons are not a defensible position". There would have been huge potential for violently chaotic civil unrest and the wealthy elite in their Hamptons mansions would suffer along with everyone else.

[@cinammondream]

who is this epic dude?

[@pornorocketz]

it's not exactly like that though. Sometimes you have to buy their products anyway. Products like (no more-)social services, for instance

[@tsc-ko1yy]

Correlation does not equal causation, you need facts to back up all your assumptions.

[@tonAnTv]

@TonyNguyenCat that move made perfect sense if you take a second look at 7:52

[@mathewjosephjr]

I really enjoyed this video! Thanks!

[@tushara5124]

I like your presentation, professor, but do you have any data to represent this??

[@nicynodle2]

There is non, if you actually look at the stats it shows a completely different story.

[@guiselic]

The data you are looking for is on history of economic development books. There are plenty of those out there. Get the "kicking away the latter" from Ha Joon Chang if are into some numbers.

[@kiyatsegaye3106]

wow. it very good lecture with creativity

[@transparence]

i thank you all, to the author and to all those, who will share this video

[@hydroknight01]

A little bit outdated today as certain social groups weren't so prominent 11 years ago, but the logic still stands up - as do the consequences, which are now looming more-devastatingly than ever.

[@Virgomans]

very informative ....cheers

[@sparkle1derful]

why did this make me want to cry??!!

[@emmanuelgalleguillos-cote5427]

+Esha Augustine The balloon popped. That's why.

[@johnkevill470]

Because this has been the situation for a while now but there’s no chance of anyone fixing it. Look at all the morons on these comments getting mad at communism, an ideology not mentioned at all in this video

[@StreangestdreaM]

This is a really smart and useful explanation. We are so doomed!

[@RHYTHMMASTER]

how did I miss this video for a long time? *we are all doomed*

[@MrJasonfkg]

The housing bubble was from Fannie and Freddie, you know that glorious social safety net.

[@UserName-ii1ce]

Well I never thought I'd see someone compare Coronavirus to a pen but here we are

[@str8inPilot]

It was really clever. It left out the bit where the state raised the public debt to keep the banks from collapsing, then the state and the banks went back to pumping up the balloon and the wealthy controllers at the top moved further up. I think it fails when the neck at the top breaks off.

[@sufifang5235]

damn good, clear, easy to understand!

[@PyroShredder982]

The "Pump" is the Federal Reserve.

[@radioamor]

This is incredibly pertinent given that credit markets that have been buttressing the flatlining wages of most Americans for the last 40 years and finally burst in 2008. "Who's going to cleanup the mess?" I think we all know the answer to that question. lol

[@sonounguerriera]

thank you so very much Sir! You are incredible💖

[@mahmoudsamy9407]

awesome video! what companies are doing now to avoid the problem of the majority being poor and not buying their stuff is engaging in frugal engineering to target the lower class.

[@chutiagiri]

loved the video! thank you so much!

[@glitterspectacle]

It's one thing to visualize verifiable data. It's another to state why the data is such without providing more scientific evidence. If the theory is that discrimination is the cause for this displacement, it is important to show more data. I acknowledge that sexism, racism, and homo/transphobia are prevalent in American society and am inclined to agree with what you are saying here. However, opinions hold no place in the scientific method. When you are presenting unverifiable data, you must regard them as hypothesis. This lad coat feels like a costume.

[@delancyj67]

Glad I found this

[@thelvl1bandit345]

bro whos watching this post covid-19?

[@Rat-Baby]

It's so depressing to watch tge same things play out over and over again.

[@utsabbhattarai3092]

Awesome!

[@biancacarrasco3449]

I FINALLY GET IT this video rocks!

[@anyamjerrylee]

i don't get it. what did the pen symbolize?

[@pussylord1095]

A little disturbance in the stock market

[@devinfaux6987]

"As if millions of stock brokers cried out in anguish... and were suddenly silenced."

[@TennesseeJed]

Don't worry the poor worker class will clean up the mess. Great video, btw.

[@JTSunriseMusic]

Every time history repeats itself the cost goes up

[@johnp2647]

Hmm so dark. not what I expected when I clicked on the video. But nonetheless he got the point across.

[@JoaNYC]

awesome....thanks

[@JL-sz1fx]

Brilliant!

[@karloskar74]

Great video!

[@HAIDERs_POV]

straight OG ! no long talk

[@matthewwake8321]

Great video thanks!

[@7ignatios]

Really Great Video

[@suzierokita3910]

A funny and education video! Great! :)

[@vanadala]

unfortunately the pin is usually a free soup line that is larger than a couple of city blocks

[@cherwith]

Excellent!

[@CorruptPianist]

I hate that people saw this coming and it happened anyway.

[@melelconquistador]

Couldn't the few at the top and their corporations just cut everyone else out of the loop. Far advances in automation have been accomplished. They could afford to do it and be self sufficient while we suffer with the damage of a collapse. Remember elysium

[@lexinuk]

It’s a fact before central bank introduced negative rate and helicopters money also unlimited of bonds.

[@schneidercanet]

It would burst eventually anyway, because nothing can grow forever (except for the Universe itself).

[@CristianVasquez]

It would be nice to show also the effects of a damaged social security net...

[@ThalesRafaelAvlis]

Is a perfect explanation. Theory of neoliberalism illustrated! Thank you!

[@LOGICZOMBIE]

phenomenal reporting

[@alibabashero]

Haha I wasn't aware that being liberal meant getting more sex, but I can see how it could potentially lead to that situation :D Nonetheless, one of the best youtube video's I've ever watched.

[@Beef_Supreeeme]

This is dangerously over-simplified.

[@jodyvanderheyde6066]

That was awesome.

[@aakritikhadka9970]

I am here just for the burst

[@lasersharpsd]

Excellent

[@rhystucker1673]

To really adequately portray the metaphor, one also needs to raise the balloon in its entirety, because as taxes are cut and government regulation is decreased, the economy grows and wealth is expanded, which is an aggregate benefit for everyone. It's not as simple as it's made out to be here.

[@HoppeKongen]

"as taxes are cut and government regulation is decreased, the economy grows and wealth is expanded" it don't really look like everyone is benefitting from this?

[@rhystucker1673]

Really? Not the people who are able to find employment from the growth of jobs? Not the people who can live a more comfortable life with their current wage as cost of living falls? Not the people who have almost 50% of their income taken away in taxes, or heavy company taxes pushing a small business out of competition? Deregulation and privatisation affects a lot of people in a very positive way. Explaining it with a water balloon is a gross oversimplification.

[@Mall_Kitty]

I agree. Tax cuts and deregulation are a positive thing. Just look at the 80's! Businesses were highly deregulated, funding to social programs were cut, and everyone cried "FREEDOM!" Of course there were a few side effects, like rampant homelessness, high unemployment, income inequality became more prevalent, the stock and commodity exchanges descended into illegal and unethical business practices, the national debt tripled, and the US went from the largest creditor state in the world to the largest debtor state.

[@ryana42]

Rhys Tucker 50% got evidence? Want to respond to Matty here. Apt explanation matty.

[@Mall_Kitty]

"[Timmothy] Noah writes in his ten part series entitled "The Great Divergence," that "in 1979, the effective tax rate on the top 0.01 percent was 42.9 percent, according to the Congressional Budget Office, but by Reagan's last year in office it was 32.2%."" From Wikipedia- en.m.wikipedia.org/wiki/Tax_policy_and_economic_inequality_in_the_United_States

[@irfananees6103]

Who the heck clicked dislike? maybe the banks and

[@aricunono6272]

11:36 Credit will always be an issue.

[@alifiyahh6387]

this is amazing