The Incredible Bread Machine Film

[rider92131]

This movie made quite an impression on me back when it came out in the 70's. That impression has stuck with me, inspired me, and stood the test of time. Our time. Even though I recently joined the GOP, I'm still very much a libertarian. BTW, there is a 60 minute YouTube version of this film that has Milton Friedman and other free market pundits weighing in.

[lokiverloren]

it is a fallacy that increased productivity created by mechanisation causes unemployment. what happens in actual fact is that the whole marketplace grows in total money exchange volumes, meaning this money now created with lower costs is available for more exchanges. this then can enable new fields of work that were previously of submarginal value becoming viable means of production.

[dfjpr]

eg. more efficient for 150m ppl to provide sufficient output for 300m ppl, and 150m unemployed bcs they are surplus to requirements. But this is clearly not sensible since the remaining 150m will be reduced to poverty, not due to lack of resources, but due to lack of income.

Amartya Sen in discussing development economics explains that food crises no longer occur due to lack of production, but to lack of purchasing power or employment.

[Worldslargestipod]

@dfjpr

This strikes me as the common argument that increases in productivity leads to unemployment. You can build a road with picks and shovels and employ more people, and even more still if you use spoons and forks.

But demand is not fixed or limited, people who are made more productive can now command the production of services that were otherwise impossible to produce given the economy, provided for by labor no longer needed for the basics.

[Worldslargestipod]

@dfjpr 2nd post - This is why 1% of the population in a western country can supply all of the needed food without 99% unemployment and abject poverty as the result

[immikeurnot]

@dfjpr Amartya is unfortunately incorrect about food shortages no longer being caused by lack of production. Unless we're going to ignore North Korea and a few other places...

[dfjpr]

@immikeurnot Arguably, If we spent more % of national income on food, prices would rise, but so would investment in food production over other categories of production. Currently a great deal of of economic output is directed toward other output that probably should be directed toward food, in order to provide adequate food supply, in the place of another less valuable area of production.

If those in poverty had the capital, this would happen of its own accord by shifts in relative prices.

[dfjpr]

Secondly, there is surely an error in assuming that people are paid according to their productivity in a market economy.

Does one earn a market price, or their productivity price?? Unemployment creates downward market pressure, regardless of what the productivity of a position is. Therefore this argument "not fair to pay more than their productivity" wud similarly be an argument against a market economy.

I enjoy austrian economics, but not psuedo-debate. More rigour and less propaganda pls.

[dfjpr]

What if output is 100 units, director earns 90 units, 50 employees share 1 units between them?

Does it not make sense to use progressive taxation to reduce the gap from 475 to 1 down to 225 to 1?? is that theft? Is the work of 1 director as valuable as 475x full time employee labour?

The market is not always free in determining salary - who determines director pay? The market? I doubt it.

Will director work less hard for $500k than $950k? I doubt it very much.

[freedomworks2]

This was one of the first really libertarian films, based on a book by the authors, shown in the movie. Premise of the book and movie: attack the major myths of capitalism, and posit persuasive arguments in favor of free markets and you give moderates and leftists some solid reasons to question their (mis)beliefs.

I love the Ceylon/Sri Lanka tale especially, but so many parts of this movie are classic.

BTW - did you notice Roy Childs in Murray Rothbard's class on Urban Renewal?

[EyeOfScrutiny]

A pleasure to watch on so many levels. I must confess a wonderful throwback to the 70s.

[deyoungaza]

The movie that introduced me to Libertarianism back in 1980. Rothbard was the best!

[Hawk999]

Thats the late Roy A. Childs sitting up front the Rothbard class. :-)

[joecassara]

Childs and Rothbard, two brilliant and wonderful people who are greatly missed.

[Hawk999]

You are right about that. I remember the book reviews by Childs in the monthly Laissez Faire brochure.

[caltrop69]

I saw this movie in both my economics and political science classes in college.

I've been wracking my brain trying to remember the name of it. Thank you SO MUCH for posting this!

[louis12346]

wait till all business have to do paper work on Global Warming Carbon Tax & Paper Work for 10 Trillion in Carbon Derivatives Market , The trickle down cost will destroy USA. , Goldmine Sax & Al will own USA , YOU will become Carbon Criminal. Carbon Cops will get you for everything..

[sharperguy]

This is so much better than Zeitgeist.

[pantadon]

Retro awesomeness ;p

[InCharacter]

Those were some interesting rhymes.  On a matter quite pertinent for all of man's times.

[Anon1696]

"Have you ever worked on a porno flick?"

[DarthKazi]

Thankfully they cut the half hour of Milton "Neighborhood effect" Friedman out.

[mcgrawtim123]

Whoa, fun old documentary. Even the sky looks bluer.

and the words truer.

[galikazoid]

thanks for sharing this!!

[CountArtha]

Bad writing, bad acting, good message.

[RationalDischarge]

Great film! Really puts these ideas across in a way that can make sense to John or Jane Q. Public.

[nonantianarchist]

If the price is higher, it's gouging.

If the price is lower, it's cutthroat competition.

If it's the same, it's collusion.

Hold still, little fish, we mean only to gut you.

[abskebabs]

Holy cow! Murray Rothbard's in a film! Freakin awesome!!!

[DarthKazi]

Yeah. That's one of the high points. The Friedman stuff is horrible though. The guy talks a good game, but he turned into a total Keynesian and his actual concepts of social structure are complete nonsense in the context of Misesian, free-market logic. The film--unfortunately--pits both Rothbard and Friedman in a "free market" platform, yet their real philosophies could not be more different.

[Nintendomanwill]

@abskebabs

I heard that Rothbard was, when on a bus in New York I think, accosted by a TV News Interviewer who was discussing the minimum wage, and thought Rothbard would be some leftist New Yorker I presume, and of course he met Mr Libertarian, Mr Anarcho-Capitalist, Mr Misesian Economist, Mr Negative-Rights Are The Hidden Basis Of Man's Dealings With Man, and naturally demolished the minimum wage for all viewers to see!

[func0il]

Better quality. Thank You !