True Free Market economics (Ron Paul lol)

ZOD · Mar 7, 2008

Because the other thread got :closet:

tehvul2 · Mar 7, 2008

Grief · Mar 7, 2008

TseTse said:
Ron Paul was just quoted as saying... "presidential campaign will soon wind down."

I guess his fake campaign effort stopped bringing in money so now he doesn't have to pretend he's actually running for President anymore.

"Though victory in the conventional political sense is not available in the presidential race, many victories have been achieved due to your hard work and enthusiasm."

"We must remember, elections are short-term efforts," Paul said. "Revolutions are long-term projects."

"But even with the past year's achievements, we're still the early stages of bringing about the changes that this revolution is all about."

I guess thinks the american revolution took decades, now? Such the historian!

Ahhh, the memories....

MY experience with this revolution has been nothing short of thrilling and inspiring. The passion, the vision, the patriotism... all overwhelming.

I want to thank all 10 of you who got out there and actually voted for Ron Paul. It made a huge difference and made sure an important message got out to the public and the GOP leadership: that americans wont sit back and allow our government to dig us into an imperial mound of debt.

WE WONT STAND FOR IT!!!

I'm so glad that message is getting through and that Ron Paul was it's bearer.

x0rcist · Mar 7, 2008

Great watch, would watch again.

Edofnor · Mar 7, 2008

PBS used to stomp the shit out of every other network on the planet. What happened?

Death to cable. Death to "discovery" and its dreck.

Reggs · Mar 7, 2008

That pencil bit in the first video just blows my mind and really gets me exited about economics.

As a young boy, there was an eps of the Mario cartoon when they time traveled to the stone age and had to make a pizza from scratch, which means they had to do everything involved in the ingredients(get milk to make cheese, get an egg to make crust ect...), yet in their own time, they could just drop $5 and have a pizza better they could make in the stone age. That whole idea of interdependence really fascinated me and I thought about it a lot. I'm sure it contributed to me studying business as an adult.

CarpeIppon · Mar 7, 2008

orbital needs to see this.

ZOD · Mar 7, 2008

Good read for those interested: Wealth of Nations

ZOD · Mar 9, 2008

Something to keep an eye on: FDIC: Failed Bank List

HomeSlice · Mar 9, 2008

HatMan · Mar 9, 2008

29:23 in the second video... hardly recognizable

Ender · Mar 10, 2008

I thought this was about shock theory.

Milton Freedman is a smart man indeed.

Ender · Mar 10, 2008

True free market economies isn't what you think it would be though. It wouldn't be "utopia" as most think it to be, it would be corporations running the world.. literally.

Government regulations distort the markets, but only because of equity issues.

Pareto Optimal as discussed in the Wealth of Nations, goes nice on paper but is hard to justify in real life. A child is a child, not a unit of labor.

As someone who studies Economics, I do believe that the marginal benefit of distortions in the economy outweighs the marginal cost of having unregulated industries.

CarpeIppon · Mar 10, 2008

Ender said:
True free market economies isn't what you think it would be though. It wouldn't be "utopia" as most think it to be, it would be corporations running the world.. literally.

Government regulations distort the markets, but only because of equity issues.

Pareto Optimal as discussed in the Wealth of Nations, goes nice on paper but is hard to justify in real life. A child is a child, not a unit of labor.

As someone who studies Economics, I do believe that the marginal benefit of distortions in the economy outweighs the marginal cost of having unregulated industries.

Lol the fed doesn't create money lol. I can has an ekonomicz dagree.

Corporations dictating what laws are passed is not a free market. Corporate monopolies are not free markets.

Reggs · Mar 10, 2008

Ender said:
True free market economies isn't what you think it would be though. It wouldn't be "utopia" as most think it to be, it would be corporations running the world.. literally.

So it would be like EVE Online irl, or Midgar from Final Fantasy VII.

Gil · Mar 10, 2008

Reggs said:
So it would be like EVE Online irl, or Midgar from Final Fantasy VII.

Essentially. We only turn to government regulations when the free market system breaks down, only when companies start colluding, fixing prices, and using other "unfair" practices.

Governments are too large, and are largely wasteful. Always have been, always will be. They take more resources (human and otherwise) to operate than any other sort of organization, but their function is very necessary -- enough to make them worth those resources to the society.

ragingbunny · Mar 10, 2008

Not that I like Big Government and all of the horribly inefficient government run enterprises that should be private but look at the recent Sub Prime crisis. The market fucked up in a major way and it hurt all parts of the american economy and the global economy. Had our government not stepped in and bailed out Countrywide, Citigroup, Merrill Lynch, etc etc and allowed these firms to go bankrupt as a free market would have can you imagine the damage? We would have seen an economic downturn that would have hurt the entire planet. Does America really have the right to do that? Shouldn't other countries be fucking furious if we just let them go belly up and flee into our lenient bankruptcy laws escaping their global creditors? Imagine if we had not saved them...then every international business and country would quickly begin pulling money out of the US and putting it into other markets. Our country would have been completely fucked and overnight gone from the number 1 economy and safe market to a place no one would want to invest into. They had to save these companies.

So sure you can have limited government control to a point but governments have to be there when the shit hits the fan because the free market still makes enormous errors and always will. The ironic bit is that in a true free market it is better in the long run to let markets clear and allow those firms that made mistakes to go bankrupt since then firms in the future will not repeat the errors. But that isn't going to fly when the world is so segmented by borders, religions, languages, blah blah.

TseTse · Mar 10, 2008

government is an evil alien force which is outside and beyond the forces of We The People... and unnatural.

we should have authority-free, un-"regulated" anarchy where commercial power and raw force is all that matters.

really.

WE DONT EVEN NEED LAWS AND AGREEMENTS.

we can all get along just fine without any government, in our libertarian utopia.

we dont need "government money" either. we can barter using gold and women.

ZOD · Mar 10, 2008

TseTse said:
government is an evil alien force which is outside and beyond the forces of We The People... and unnatural.

we should have authority-free, un-"regulated" anarchy where commercial power and raw force is all that matters.

really.

WE DONT EVEN NEED LAWS AND AGREEMENTS.

we can all get along just fine without any government, in our libertarian utopia.

we dont need "government money" either. we can barter using gold and women.

Sounds like you are rather ill informed on Dr. Milton's position and are pulling shit out of your ass. Listen to what he is saying in the program and then comment.

Kizzak · Mar 10, 2008

Ender said:
True free market economies isn't what you think it would be though. It wouldn't be "utopia" as most think it to be, it would be corporations running the world.. literally.

Government regulations distort the markets, but only because of equity issues.

Pareto Optimal as discussed in the Wealth of Nations, goes nice on paper but is hard to justify in real life. A child is a child, not a unit of labor.

As someone who studies Economics, I do believe that the marginal benefit of distortions in the economy outweighs the marginal cost of having unregulated industries.

That's why there's often a difference between the social optimum equilibrium and the market efficient equilibrium.

Largely the question is estimating the proper impact of externalities and overall preferences.

True Free Market economics (Ron Paul lol)

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ZOD

tehvul2

Grief

x0rcist

Edofnor

Reggs

CarpeIppon

ZOD

ZOD

HomeSlice

HatMan

Ender

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Ender

ValtreX

CarpeIppon

Reggs

Gil

ragingbunny

TseTse

ZOD

Kizzak