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I like the way Saifedean describes many economist as "court economists". These economists exist to justify central banking, state interference in the market and central planning generally. Their reasoning. their arguments, their history changes sometimes but the conclusion remains the same: it is better for everyone if government controls the money, manipulates prices and prevents/destroys free choice and voluntary exchange in some parts of the market. And stronger than that: it is necessary and prevents calamity from occurring. As long as that is the conclusion the funders of these economists are happy. No need to talk about conflicts of interest, of course.
The relevance of having dropped the keys where it is dark yet looking for them under the light where you know they aren't: The mathematical models are neat and easy under assumptions we know are false. These economists then say "Ok we'll do economics in this way we know is wrong but the math is easy here so there we go." One of these assumptions was remarked on by Peter namely that the thing bought has equal money to the price paid. That's untrue. Each party values the other thing more. That is why they trade. They think they will be better off after the trade. Else why bother. Just keep what you have if you value it just the same. This fact about human economics complicates the math so some economists pretend as if it isn't true. Because there isn't light there so we'll pretend we didn't drop out keys there because they would be hard to find there. Because the math is very hard trying to model where we know the truth is we will pretend the truth isn't there.
I liked Peter St Onge recent appearance on that most banned show. That show where the co-host / host of the afternoon show of the news organization / talk show was recently locked up for his speech Doesn't the bill of rights apply to all americans? Including AJ and OS I think people should listen more to these talk show hosts as a FU to the establishment trying to destroy them. We shouldn't teach the tyrants that their tactics will have their desired effects
The distinction points are ancillary to facts. The assumption and projection of facts that equate freedom with system is short sighted. At a point it goes from deductive to belief system. There is no inherent tie between impoverishing, as if that's a good thing? There's more thought and messaging required in this area. Because a large portion of equations (and possibilities) are missing based on assumed facts. Check it out.
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Love Peter, thanks for the discussion!
❤🦢
Excellent discussion. Thank you
Glad you enjoyed it!
Loved the plug to Hillsdale College!
I like the way Saifedean describes many economist as "court economists".
These economists exist to justify central banking, state interference in the market and central planning generally.
Their reasoning. their arguments, their history changes sometimes but the conclusion remains the same: it is better for everyone if government controls the money, manipulates prices and prevents/destroys free choice and voluntary exchange in some parts of the market. And stronger than that: it is necessary and prevents calamity from occurring.
As long as that is the conclusion the funders of these economists are happy. No need to talk about conflicts of interest, of course.
Super good
Good intro to economics
Just like anything else, it is about the control.
Couldn't understand the second book that Peter recommended. Anyone have the title/author?
Saifedean Ammous ‘The Bitcoin Standard’
The relevance of having dropped the keys where it is dark yet looking for them under the light where you know they aren't:
The mathematical models are neat and easy under assumptions we know are false. These economists then say "Ok we'll do economics in this way we know is wrong but the math is easy here so there we go."
One of these assumptions was remarked on by Peter namely that the thing bought has equal money to the price paid. That's untrue. Each party values the other thing more. That is why they trade. They think they will be better off after the trade. Else why bother. Just keep what you have if you value it just the same.
This fact about human economics complicates the math so some economists pretend as if it isn't true. Because there isn't light there so we'll pretend we didn't drop out keys there because they would be hard to find there.
Because the math is very hard trying to model where we know the truth is we will pretend the truth isn't there.
Austrian Economics For Dummies: I'd like to hear it in one sentence.
Subjective voluntary decisions of individuals
The study of choices under the condition of scarcity based on human action.
I liked Peter St Onge recent appearance on that most banned show. That show where the co-host / host of the afternoon show of the news organization / talk show was recently locked up for his speech
Doesn't the bill of rights apply to all americans? Including AJ and OS
I think people should listen more to these talk show hosts as a FU to the establishment trying to destroy them. We shouldn't teach the tyrants that their tactics will have their desired effects
The distinction points are ancillary to facts. The assumption and projection of facts that equate freedom with system is short sighted. At a point it goes from deductive to belief system. There is no inherent tie between impoverishing, as if that's a good thing? There's more thought and messaging required in this area. Because a large portion of equations (and possibilities) are missing based on assumed facts. Check it out.
Ancillary to facts
Australien Economics, when even the first sentence you hear is wrong.
Holly Jesus this was hard to listen too!!! This guy is all over the place !!! Narrow it down bud!!! More analogies and less blablablaaaahhhh