Bryan Caplan: Ugly Economic Truths
Вставка
- Опубліковано 26 чер 2024
- Economist and bestselling author Bryan Caplan is back on the podcast to debunk the conventional thinking on democracy, Keynesiansim, education, mental illness, and more.
Bryan asks and answers some of the most pressing questions of the day:
Should Jerome Powell support abolishing the minimum wage?
Does this dress make me look fat?
Can free market supporters be Keynesians?
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Get the full episode and transcript here: monetary-metals.com/bryan-cap...
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Chapters
[00:00:00]: In this episode...
[00:01:37]: Overview of Bryan Caplan's latest book
[00:02:31]: Methodology of presenting contrarian viewpoints
[00:08:10]: Social desirability bias
[00:12:58]: Disgust for markets and Jeff Bezos
[00:15:04]: The case against education and fake vocational majors
[00:23:07]: Why we don't learn about Mao and Stalin...
[00:28:27]: Public choice theory and market failure
[00:30:39]: Governments widen spreads
[00:46:26]: Mental Illness and Social Desirability Bias
[00:49:04]: Pragmatic Pacifism and the Historical Track Record of War
[00:50:56]: Totally Free Speech vs. Totally Free Markets
[00:53:40]: Most Impactful Works
[00:55:19]: Marx, Keynes, or Krugman
[00:56:11]: Alleviating Poverty
[00:57:52]: Flat tax or sales tax
[00:58:26]: Atlas Shrugged
[00:59:53]: Open borders for women or abolish labor regulations?
[01:01:07]: Future of behavioral economics
[01:02:50]: Question for future podcast guests
[01:03:14]: Where to find Bryan Caplan's work
[01:04:23]: AI illustration contest
[01:04:46]: Bryan Caplan
[01:04:48]: Monetary Metals
I never get tired of this guy
A great guest as always!
That's because, like Caplan, you have no soul.
Bryan's breadth of knowledge of such privilege to watch. Love the interviews where they don't interrupt him and let him talk!
Bryan is incredibly knowledgable in lots of subjects!
One thing to consider about the government competency bias is the role of the education system. It teaches that for every problem, seek an authority figure to solve it. When the kids grow up, this mentality carries over.
My toupee off to you all! Great stuff.
Excellent discussion
Bryan can speak fluently on so many different topics! Can't wait to get to his level someday!
I haven't met someone with your surname before. Was Nadelstein originally a Russian Yiddish last name before your family moved to America?
@@stlouisix3 YES!
📚 The book explores voter irrationality and argues for limitations on democracy and government intervention.
00:38
The book argues that voters are altruistic but have foolish views on how to help the world.
The author suggests limitations on democracy and government intervention as solutions.
The author also advocates for government doing less.
📚 The speaker criticizes the negative perception of merchants and praises Jeff Bezos, arguing that he is unfairly hated compared to the Säüdi monarchy.
13:44
Medieval writers in the church had negative views of merchants, but the speaker finds their perception unjust.
📚 The book explores voter irrationality and argues for limitations on democracy and government intervention.
00:38
The book argues that voters are altruistic but have foolish views on how to help the world.
The author suggests limitations on democracy and government intervention as solutions.
The author also advocates for government doing less.
📚 The speaker criticizes the negative perception of merchants and praises Jeff Bezos, arguing that he is unfairly hated compared to the Säüdi monarchy.
13:44
Medieval writers in the church had negative views of merchants, but the speaker finds their perception unjust.
The speaker contrasts the hatred towards Jeff Bezos with the acceptance of the Säüdi monarchy.
The speaker questions why Bezos is disliked for getting rich by selling things people like, while the Saudi monarchy is less criticized despite their inherited wealth.
📚 Public Choice Theory is the economics of politics, studying the interaction between economic decisions and political systems.
28:19
Market failure is a concept in public choice theory that occurs when the allocation of resources by a free market is inefficient.
Public Choice Theory is also known as political economy or formal political theory.
📉 Keynesians should be opposed to the minimum wage as it increases downward rigidity in prices and wages.
39:26
Keynesians believe that government should keep up demand to prevent falls in output and employment.
Increasing rigidity in prices and wages worsens the consequences of falling demand.
Keynesians should be strongly opposed to any effort to push up wages or regulate the labor market.
💰 People are drawn to making money offshore, but prefer to retire in countries with more freedom and enjoyment.
52:04
People are attracted to making money offshore due to tax benefits and less regulation.
Many individuals prefer to retire in countries like France or Italy for a better quality of life.
The speaker contrasts the hatred towards Jeff Bezos with the acceptance of the Säüdi monarchy.
The speaker questions why Bezos is disliked for getting rich by selling things people like, while the Säüdi monarchy is less criticized despite their inherited wealth.
📚 Public Choice Theory is the economics of politics, studying the interaction between economic decisions and political systems.
28:19
Market failure is a concept in public choice theory that occurs when the allocation of resources by a free market is inefficient.
Public Choice Theory is also known as political economy or formal political theory.
📉 Keynesians should be opposed to the minimum wage as it increases downward rigidity in prices and wages.
39:26
Keynesians believe that government should keep up demand to prevent falls in output and employment.
Increasing rigidity in prices and wages worsens the consequences of falling demand.
Keynesians should be strongly opposed to any effort to push up wages or regulate the labor market.
💰 People are drawn to making money offshore, but prefer to retire in countries with more freedom and enjoyment.
52:04
People are attracted to making money offshore due to tax benefits and less regulation.
Many individuals prefer to retire in countries like France or Italy for a better quality of life.
All of your points are repeated (listed twice) in a somewhat random order. It looks like a paste error to me.
amazing to see one of my favourite experts on with Keith! Small world of sound money
Small world with great people!
I feel like there's always a rush to point fingers at the Left, and certainly for good cause on some occasions. However, as far as Hitler being taught in schools more than other horrors, I believe comes from a more self serving position of needing to maintain our own narrative. In the story of Hitler, we get to be the hero who destroyed that horror. In the case of Mao, we can only gloat at being smarter than these millions of people who suffered.
America always needs to be the hero or world savior. When we can't, we don't care. Unless they've got oil! 😂
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I have to thank Bryan Caplan for opening our eyes to rational irrationality and many common fundamental political biases, nonetheless libertarians consistently misunderstand nation-state apologetics. Most people are not autisticly concerned about detailed inductive and deductive arguments and thankfully, as we don't have the resources to employ even half the worlds adults in part-time libertarian research. Most people most of the time *need* leadership for human cooperation - not just market coordination. Quickly following a bad leader is often better than eventually getting it right in some technical sense.
Because of this independent need for non-market hierarchical coordination, the lack of alternatives, and the difficulty of understanding economics most people will defend *aggressive* leadership. We will *never* convince the masses with a clever narrative, marketing, or sales techniques. The arguments are counter-intuitive by their abstract nature so making it simple doesn't help. Thanks to computer science, voluntary alternatives to aggressive leadership is possible to maintain. Quit explaining alternatives; let's build it!
Built!
Bad sound quality