Economics in One Lesson: Part 2 | Thomas J. DiLorenzo

[irliving]

im no economist, but u dont have to destroy something to create a new job, because the universe is infinite u can just keep exploring it and building new things forever without destroying anything, i dont know, it just seems logical, the things that they say to lower masses arent necesarly true

[WarVideo]

ANy war that takes place is destructive, period. The world would be a better place if wars never taken place. But If war is defensive it is not necessarilly destructive, expecially if its aimed at destroying destroyers.i.e. the intiators of force. That war does not create, it just preserves.

[FoolProofName]

True, yes, we as humans must be on our toes to combat the destroyers, unjust, and unrighteous. That is what I stand for. I believe that the evils of the world are manipulation, suppression of freedom, oppression by tyranny, suffering caused by tyranny, hate is evil especially without cause if there is cause to hate, uncalled for sorrow is wrong because it leads to giving in and giving up, exploitation of ppl at their expense, slavery of any kind including ones desires wo control and corruption

[LinearCry]

@WarVideo : War must be considered relative to the alternatives and across all time, not merely in isolation. War can be necessary in order to liberate, thereby making greater creation possible. These future creations enabled by war must be weighed against the war's immediate destructiveness in order to calculate its net value.

[WarVideo]

@LinearCry

War can be necessary to liberate?but to liberate who and for what? The only proper justification for engaging in a war is for self-defence, not for altruistic crusades to liberate foreigners. Those types of wars ARE destructive, becuase they sacrifice the lives of soldiers. And how is creation or a net value calculuse justification for any war?Thats rationalistic nonsense, War is an issue of justice and survival.

[LinearCry]

@WarVideo : Does "self-defense" include defense from oppression? If so, I'd probably agree with you. When the lives of soldiers are sacrificed for liberty and to save more lives in the long run, that war is not merely destructive in the short term, as all wars are, it is also constructive overall. That is the calculus I am describing.

[WarVideo]

@WarVideo

I think i was drunk when i wrote this.

[FightBadIdeas]

It would be realy nice to have a translation of this book to Portuguese. Why don't you guys from the Mises Institute work on it? We realy need it here in Brazil!

[TodMcInerney]

I think they would welcome somone like yourself who obivously knows Engish & Portuguese to give it a crack (go).

[FightBadIdeas]

I'd love to, but I don't have that kind of time right now...

[txballoonman]

So, we in Houston shouldn't be happy about Hurricane Ike?! J/K

What was that kids book I've been meaning to get... "How to grow up rich"? I'll Google it... That sounds like marketing. It's not. It's rambling.

[charlessmyth]

Good little book and surprisingly comprehensive.

[CurtHowland]

Economics doesn't have to be huge and complex, because it's based on simple facts.

People act.

People trade because they are better off when they do.

People generally prefer ease over labor.

There are several examples of "economics for kids" which end up teaching much better basic economics than college 101 classes do.

[charlessmyth]

Quite true. This book wasn't intended to a treatise in the same way as George Reisman's 'Capitalism, A Treatise on Economics' is, but it does cover the principles very well, as a precursor to tackling Reisman. 'Whatever Happened to Penny Candy' isn't too bad, so long as you can tolerate the writing style :-)

[harryogre]

I love his broken windows example.

[Nickelodeon2002]

I'm really glad you enjoyed it Harry. Please understand that the broken window fallacy was originally conceived of by Frederic Bastiat in his treatise "The Law" as an argument against a prominent economist of his day. "The Law" is freely available on the web, about 50 pages printed and very easy to read despite being written 150 years ago...and still very relevant. I recommend you download and read it....it would only take a few hours.

[Genowulf]

There's also a free audio book version out there too which is great if you like your Bastiat on the run :D

[harryogre]

Thanks, I'll do that.

[NicNasty1981]

Hey i seen this ages ago. Austrian school economics kicks ass. Also check out Peter Schiff. The master of Austrian School watch?v=6G3Qefbt0n4

[50trillion]

Thank you for this link. I have watched a alot of Peter Schiff videos lately, but I had never seen this one.

[NicNasty1981]

Youre welcome, Its a great video snd Peter explains it in a way that everyone can understand