Відео

"If you're not re-elected, you certainly don't care about the future costs." This is why the rational actor model is too limited. Presidents care very much about "securing their legacy."

re: the Nirvana Fallacy: we can't compare a realistic, imperfect market solution to an unrealistic, perfect government solution. Yet we're asked to assume unrealistic, perfectly rational preferences for all actors in the system?

Perfect competion monopoly marginal revolution

This is amazing!!

Insightful video!

Excellent lecture! Well spoken and gives time to the listener to comprehend, thank you for not speaking too quick !!!

This is Civics 3.0. So good. So well explained. So important.

I did use to think it was wisdom of crowds but I see it’s actually better than that.

Thanks for the video presentation!! =)

I love economics

I think it's dangerous to be voting ignorantly. " don't think about it just vote for me" vote blindly it will all work out. great advice. We've come to this now.... 🙌 👏

Who's here because of $WOLFY ? #WOLFPACK💪💪💪

This all seems to suggest a kind of meritocracy or weighted voting.

Fantastic presentation. I'd like to see these ideas implemented on Blockchain with something like a stablecoin and smart contract to encourage global participation in domain specific fields, and possibly access token/wallet pairs being issued for private group use.

Thank you this helped a lot!

Decent msg. I've always thought weighted voting plus a meritocracy to filter out leaders would be the best. Always found Singapore and China (ancient and modern) to be an inspiration.

On the "kill its own people" argument. That's just a semantics game. Would civil wars (American civil war) be considered "killing their own people", would the genocide of Native American's be considered "killing its own people" ? Would sending their own citizens to die for useless wars, whether its the colonization of the Philippines, Korea, Vietnam or modern wars like Iraq and Afghanistan be considered "killing its own people"? And why is this the benchmark? Why not consider killing people in general? Killing others is okay but not your own? Seems arbitrary. Is the hundreds of thousand of preventable deaths due to lack of medical care or homeless per 1 year alone, considered "killing" ? Idk, it seems like an ideologically motivated game of semantics.

Correlation doesn't equal causation. Most of the "democratic" countries had already had at least a 100 years head start in terms of industrialization and improving agriculture. So its not so much "democracy" but industrialization and better agro tech that prevents famines. There's also the issue of different climatic and environmental conditions, which might make certain regions more susceptible to crop failures than others. Not mention the level of development and whether a country is under an economic siege must also be controlled for to truly assess this claim. The India argument isn't so much about democracy but more about self rule of Indians and ending colonialism. You can also easily find dictatorships that never had famines. Besides India is only 1 example, to be convincing you need more to make a generalized claim like "democracy causes no famines". I guess the only ones that one can bring up is the NK famine of the mid 90s , however NK is one of the most embargoed and economically sanctioned countries in history and their infrastructure had been utterly destroyed in the Korean war. Besides they never had one since. Goes without saying, their political system leaves plenty to be desired. There's always confounding factors. Since then (mid 90s) , large scale famines have more or less become history, due to improvements in technology. So this argument is more or less irrelevant. The broader msg I agree with obviously, some level of democracy seems to be good , I also agree that democracy as its commonly understood is overrated.

16:48 Rent-Seeking

Very cool video

"the future" for politicians is a tragedy of the commons problem.

my friend Jossan wants me to thank you. xoxo

The hardest value or irrational biais I have here (or hold on to some rationally for comfort) is that "ultimately our vote won't matter". Very good points made otherwise 😎 and as for nations smartening up, in my biaised view : no. Thanks for this!

So a form of Tragedy of The Commons?

Sir You are very good but I could not understand Rent Seeking at all. Can you please explain me personally?

I heard a really good comparison today using the KKK and “woke” culture. Both meet in the middle where they share segregation as a “worthy” outcome. Woke universities with black dormitories, or persons of color meeting areas, etc.

Crazy!!

The problem with free trade being the answer to almost everything is because it's not. We need to better understand the overall impacts which is becoming clear with Covid. The cost benefit of extensive mitigation measures were done from a remote workers point of view with academics being it's greatest spokespeople, while elite colleges across the country still wear masks (the Super Bowl was yesterday). Think about the contradictions in that sentence. At what point are these people not able to see how absurd they have become? What are the societal effects of low skilled being offshored to areas where law firms like Mossack Fonesca take legal arbitration to another level. Not to mention higher HS drop out rates and lower college attendance for males; yet, Tyler Cowen claims feminization is good for society. So is it better for developing countries to become more masculine? The macroeconomic models are based on a naïve world which doesn't exist. Paul Krugman has been arguing for easy money while claiming inflation wasn't a concern for the last two decades. Until inflation is a concern. Relying on long term predictions from economists who are as often wrong as they are right is a greater concern.

Just ask US indie farmers how GMO Mosanto seed subscription is working for them.

I have never seen ANY intellectual (i.e. journalist, economist, thinker, politician, bureaucrat, author, speaker) putting ANY blame on ANY Indian farmer ever for ANYTHING. Are Indian farmers angels who are only exploited ? Do these "so called intellectuals" stand to profit from never putting any blame on Indian farmers ?

Imagine a Public School class devoting 30 minutes to watching this video. Nope, not going to happen.

1:55 sad there aren’t more recent studies

hi

"Even today, it’s very common for people, even economists and political scientists to put forward ideas which could only work if the government were a benevolent dictator."

Excellent lecture!!!

Thank you Alex! It has made me understand the subject.

Excellent!

excellent, thank you!

this video is really uplifting

Really cool video!

Great primer in this topic. I'll think Ill refer people to this video next time I try to introduce this topic.