Nobel laureate George J. Stigler founded the Center for the Study of the Economy and the State at the University of Chicago in 1977. From its inception, the Center has been a joint enterprise of economists and legal scholars. We organize events, run a podcast (Capitalisn't), a publication (ProMarket), and engage with academics, policymakers, and the public at large.
I asked a PhD economists to explain how an automobile engine worked. He couldn't even start, but he drove a white SUV. What do economists say about planned obsolescence and the depreciation of durable consumer goods? What is Net Domestic Product, NDP? Karl Marx used the word 'depreciation' 35 times in the first two volumes of his major work. Where is the data on the annual depreciation of automobiles since Sputnik?
@@intellectually_lazy I knew that before I graduated from grammar school. How many billions of dollars are spent buying new cars every year? How much is spent repairing cars every year? Watch television for 2 hours. Count the number of commercials related to cars. Do cars have something to do with economics? Try finding an economist talking about the Depreciation of automobiles.
GDP is Grossly Distorted Propaganda There was this dude named Adam Smith who wrote this book *Wealth of Nations.* He used the word 'education' Eighty Times in that book. If you search the book for "read, write" you will find multiple instances of "read, write and account". One would think that he would be in favor of mandatory accounting in the schools but what Western country has done that since WWII? The economic cattle are only supposed to moo. They might make decisions to serve their own best interests if they knew accounting. They are supposed to believe in the "Invisible Hand" so Milton Friedman could slap us around with it. Smith's use of that term can be counted on one finger.
Hello sir, I visited your RU-vid channel. Your video quality is very good.♥️ Your channel has a lot of viewers. But there are some problems in your RU-vid channel which if solved will increase the number of views and subscribers on your channel. Can I share your channel problems?
He uses the word "salience" a lot. Fancy way of saying "consequences". Argues that greater consequences wouldn't necessarily be a deterrent. I disagree. Send 'em to the pen surrounded by violent, hardened convicts to get turned out and/or shanked... These white collar criminals will think twice before doing anything that even remotely risks even the perception of misconduct, much less criminality.
@3:45 .. in a way, more middle class and upper middle class people should be leading the charge for us low wage workers because we are the ones making so little that we don't have the time to go out and protest for weeks on end. They should listen to the low wage workers, but being so low wage, we have to keep working to pay the bills. I'd love to go protest but i literally can't afford to without risking the loss of my housing.
Life long low wage warehouse and factory worker here, on the left on social issues, hello!! Do I care if you're trans, no. Do I care if you don't give a shit about living wages for warehouse workers because we're easily replacable "low skill" workers, yes. And if that's what you believe, you can f right off.
@36:00 .. I just find it hard to believe that Vivek would be the kind to support government action to limit corporations in a non hypocritical way. He runs in politics as a republican. While I can easily see him voting to limit companies ability to make money through "wokism", would he do the same thing for say, religion? I find it hard to believe he would.
@18:10 .. but can you call it hypocrisy if they are just catering to the culture they're in in order to maximize their profit, which he just said is ok? Or is using contradictory values in their marketing depending on the culture they are in one of the ways companies shouldn't be allowed to maximize profit?
That class survey Luigi did is super depressing. How can there be hope for a better kind future market when this is how at least half of the future business people are thinking?
Right off the bat, based on that intro snippet, my initial question would be ... Do I really have a freedom to leave a job or choose a job if, after leaving that job to look for a new one, I run the risk of losing housing and the like if I can't find a new compatible job in due time?
@16:10 ... This elevator analogy confuses me. Who is moving up as the economy moves up? @16:25 ... "If you get on it, the escalator's moving up because growth in the economy and productivity" .... then how does he explain stagnate wages???? I read all kinds of stories of peoples dads starting a certain job at a certain wage 40 years ago, and them starting the same job now at the exact same wage with no adjustments for the 40 years of inflation and increased productivity. That analogy is BS. Now, if he wants to take that analogy, and add the aspect of people trying to run up that escalator while pushing and shoving other people clean off, then we may be a little closer to a more accurate analogy.
This interview with a student after a chaotic night with police and while still holding the line against them is why U of Chicago is seen as such a stellar academic institution…If he’s suspended or charged with criminal trespassing the faculty should have his back. He is the best advertisement for your University’s ability to create critical thinking and ethical citizens…DIVEST and get a new President. Cal Berkeley and Stanford have handled these protests 100 percent better. Of course at Stanford, the Grandmas are in the encampments also🤓 San Francisco State’s President has visited the encampment there and held open meetings to the public and agreed to have transparency in their investment portfolios. My older son is graduating from UCSC and they would rather call in Netanyahu himself than riot police…peaceful kids and lots of teach ins going on with faculty and speakers. My younger son at Cal Poly Humboldt had a complete disaster of this semester. Small group had a sit in in the admin bldg….which they have historically done before since Vietnam War protests. New President called in the riot police and the kids barricaded themselves in the bldg. campus shut completely down…classes cancelled, graduation on campus cancelled. 2 weeks standoff ending with a caravan of officers driving 300 miles from San Francisco. It was only then that I found out the President who gets paid almost $600,000.00 a year…has lived in Southern CA over 500 miles away and hadn’t been on campus for months! A seasoned high school principal could have holed up with those kids in a sleeping bag and listened and made some concessions that made them feel like they had some power for constructive change. Absolutely insane that college presidents aren’t on campuses. It’s like the university is a corporation like a hedge fund offering classes on the side for extra $🤨 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-EvcLyhR7ZkE.htmlsi=D8uN4dlYHKM7t9UU
Pretty incredible that Gamestop could be mentioned so many times without anyone bringing up the fact that it was shorted 140% of it's float by recidivist short sellers. The dissemination of "noise" aka short & distort campaigns was also glazed over nonchalantly. I wish you would have spent more time discussing "the reasonable belief" that recidivist short sellers can "locate" a stock. That "reasonable belief" leads us to another correlated topic; rehypothecation & the creation of what's known as a "synthetic share". When you combine abusive short selling with the creation of synthetic shares it in effect temporiarily adds shares to the float that were never authorized by the company. Supply & demand becomes egregiously distorted favoring the sell side. Now add market makers that pay for retail order flow using Bernie Madoff's PFOF & combine that with the fact that those market makers are also operating hedge funds...no conflicts of interest or front running could possibly going on, right? I'll leave you with a quote from Melissa Lee of CNBC's Fast Money said live on air regarding Gamestop, "Naked shorts, yeah"....
*The firm’s assets have shrunk to less than $200 million from about $8 billion in 2008. Chanos, 65, will continue to run his firm, mostly investing his personal capital but also managing money for certain clients in separately managed accounts.* Chanos lied about Tesla being a fraud and got burned, it's that simple, and he lost a lot of money, am surprised nobody has take a shot at him.*
*FRAUD IS WHAT JIM CHANOS DOES TO HIS INVESTORS.* Jim Chanos simply takes bets on the fact 2/3 of new businesses will fail, he places his investors funds across the market based on that fact.
A very fruitful discussion and worthwhile input from Mt Cochrane which everyone should be taking notice of instead of pushing politically subservient called theories that like MMT that are easily clearly false.
Yes - MMT is an absolute fairytale - a fantasy belief that is underpinned by false observations and very poor thinking that is illogical. The evidence for me saying that includes their money story where MMt says taxes put value into and get acceptence of the money and the historical evidence itself in economies where inflation has rendered the money worthless there were taxes in all of them yet at the same time the money became worthless and rejected by their own governments and others. Taxes and worthless money is the indisputable fact that demonstrates taxes do not put any value into money and any conclusions that are drawn from that false belief that they do are therefore logicaly false. Additionally if the taxes made money more valuable then higher taxes would make it more valuable but there is no consistency of evidence of increased money value in countries where taxes have increased.
18:00 Ha ha ha ha ha! This Cochrane *** wipe knows the Capitalist tune to sing. Anytime someone points out a flaw in Capitalism - all you have to do is cry INFLATION!. But he's right. We don't need to borrow money. All we need to do is take it from capitalist stooges like him.
One of the most badly thought out ideas that has been around in some people's minds for almost eternity. I guess you are drawn into that belief because you are unaware of or don't understand that all of the designated sovereign money of countries today is credit backed by debt. It is all borrowed just like private bank loans are created alongside an equivalent amount of debt.
@@Rob-fx2dw Thanks for Capitalist Stooge perspective! Money isn't backed by anything. And it only has value when it is SPENT to allocate resources. All you're doing is jerking off to the fake system that guarantees you'll stay in your place.
Cochrane isn't as stupid as his **** eating grin makes him look. He knows that Debt is the big Lie of Capitalism. And it's the main way the scum who pay his salary milk the poor and middle class.
Funny how you guys lament the state of journalism but ignore the overt leftwing bias of most 'journalists' or how seldom they admit when they are wrong ( Hunters laptop, if you like your doctor, etc)....I wonder why journalistic credibility is in the toilet and normal Americans have such contempt for journalism?🤔
