Understanding Economics - Introduction: Why Economics? Shattering Myths (Part 1 of 3)

Understanding Economics Series
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Common sense economic lessons for the interested layman. How a free market economy works, from an Austrian School perspective.
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Introduction - Why Economics? Shattering Myths Economics is perhaps the most misunderstood and chided and fallacious field in all of academia. Does it deserve this hate? If so, why? Is there a glimmer of hope and reason amidst madness? Learn the answers, and why you should learn real economics.

My apologies for the sound quality of this video (and the fact that I must split it into several parts, but blame Youtube for that). I am still experimenting with the best way to send powerpoint videos.

Part 1: http://www.youtube.com/watch?v=GDmwEJ8p_Xw
Part 2: http://www.youtube.com/watch?v=y8hqxGg7Bh0
Part 3: http://www.youtube.com/watch?v=N0FsJP4asDQ

For all these videos in one place: http://ryansafner.com/2010/01/15/understanding-economics-introduction-why-eco...

To watch the whole presentation in ONE continuous video, go here: http://www.youtube.com/view_play_list?p=8F83C5C589FEB5FD

Category:

News & Politics

Tags:

• Austrian
• economics
• introduction
• free market
• fallacies
• myths

[TheRightDecision]

Excellent!

[Anon1696]

Woot!

[babykikino]

after haering what you say, economics such an interesting thing

[CytherLynx]

mises . org / books / epistemological . pdf

if you'r interested. but yeah.. decide for yourself.

[CytherLynx]

@MarmaladeINFP there is no conflict between praxeology and science

And max weber is an excellent example. the main developer of Austrian economics L Mises, drew from max weber the most of any sociologist. he wrote a book about this specific 'problem'.

you're passing off something you don't know based on what you've heard, and what you've heard is the naive interpretation of praxeology that i hear all the time.

like when ppl discredit evolution due to the 'eyeball design' problem - frustrating

[MarmaladeINFP]

@CytherLynx Economics isn't abstract mathematics. To say the two are the same is disingenuous. Yes, I've heard of scientism, yet more disingenuous rhetoric. There are those within the social sciences such as Max Weber who criticized positivism. Many praxeologists have a simplistic understanding of science and project their false understanding onto scientists. It's not helpful. I believe I had a discussion about this with Safnerism and he agreed science needs to be taken more seriously.

[CytherLynx]

@MarmaladeINFP

"everyone thinks their axioms are right."

axiom's are irrefutable. not because we are somehow arrogant. but because it is like saying 2+2 =4... or 'all angles in a triangle = 180'.

Do you think people should go out and test all triangles to make sure?

your 'show me data or its not true' is the wrong way to go about it social science.

btw i'm an atheist & support evolution. there is nothing unobjective about praxeology. yet you think it's un-scientific?

heard of scientism?

[MarmaladeINFP]

@CytherLynx I've read about it. I could study it further, but then again I could study a lot of subjects further. As for these ideas, I just have little interest. Show me the hard data or I just don't care. Everyone has their own preferred axioms: Austrians, Christians, etc. And everyone thinks their axioms are right. But without objective data, there can be no objective assessment. If I remember correctly, some more recent videos of Safnerism express some criticism of or doubts about praxeology

[CytherLynx]

@MarmaladeINFP that's ok. but don't pass it off before reading in depth about it... i assure you 'we' have very good reasons for axioms and praxeology. it actually is about approaching social science the way it should be approached. you can't discover value or ethics with the scientific method.

if you want a very good, concise short book on Austrian economics, read 'economics in one lesson'.

it is free online. just google: 'economics in one lesson pdf' ... should be the first option.

[MarmaladeINFP]

The problem I have with the Austrian school is that it's based on axioms that seem like questionable assumptions to make. I realize the desire for certainty by declaring axiomatic truths, but I don't think it's helpful.

That said, YouTube comments section isn't a good place to go into details. I guess all I can say is I disagree. :)

[ashidollie]

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[saradani79]

BORING LESSON !!!!