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4:00: Surprising no one commented on this video ever, but: Edit: Lol literally thirty seconds later you say this. This statement is in line with the economic system of mercantalism, which is ironically a command economy. The sole reason it is centralised as a system is to make it taxable... although as Smith says it has the side effect of concentrating trade into the hands of the few.
We must aware that Economics is a social science, there are so many variables that cannot be quantified. Therefore, too much mathematics will bring disaster outcome in Economics. We must learn in what happened in the 1950s and 1960s that we had a huge formula for Economics (particularly in Finance) that couldn't work. 😁
I think promoting graduate education via subsidisation will create a synergy between tech and academia which will create Pareto improvement in the long run and not an externality for people looking to get into acedimia.
This is a good video. Austrian economics is just an over-simplication. Blaming interest rates as sole reason for 2008 housing crisis. excessive options and derivatives market, laws allowing financial firms to transfer savings to investment funds to gamble, unethical credit rating system. that is not accounted by original austrian economics.
It would have been nice to have a discussion of how the process would work if you did it at scale across the country, but without changing the laws. I suppose that would not illustrate the economic principle as well, but I think it would be interesting because the problem is in some sense one of collective action.
So countries that implement PPP projects for hydropower or solar purposely for clean energy will also qualify as electricity is non tradeable? Thanks for sharing this very informative presentation. I think developing countries should look critically about this before implementing PPP for public services that are non tradaeable
Turgot knew France could not afford to pay for the American Revolution in any way shape or form! He tried to warn King Louie but Louie wouldn't listen to him and fired him. Other links say Turgot resigned in protest but to Turgot's credit he never doubted American victory with or without French help.
I offer this theory: Due to the domination of religion, thinkers explained economic concepts (emergent order, human action but not human design) as the grace or design of god(s). It took the Enlightenment for people to look for non-theistic explanations, particularly in economics.
I've seen this before and love it. Hans Rosling's 200 Countries, 200 Years, 4 Minutes - The Joy of Stats ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-jbkSRLYSojo.html
I hate that saying. Total bs. Made by rich eaten by copiums. Idk if you mean literally yacht or as a measure of financial level you'd like to be, but yes, not have to worry about making it and being able to afford joy pretty much IS happiness. Being carefree. Just free. And that's without added torture at work if you're not 100% healthy
@@Lilian040210 You can achieve and invest, just pretend you have less than you make and put some of those seeds into something you believe in and invest in it, even if it is in yourself.
