How Economists Invented Austerity & Paved the Way to Fascism 

There is socialism for the working class when it comes to pay. No matter how well you do your work or how hard you work, your pay will be the same as the others there. There's no merit to hard work when you get paid the same as co-workers . It breeds mediocrity.

Wtf you want to say with "socialism for billionaires" 💀?

@@leni4179 State money and tax cuts for the 1% richest people, while fewer social investment and higher taxes for the poorer.

You are absolutely on point !!!

@@leni4179 it's is socialism for billionaires!!!! They take more than generous help from the state !!! If they are so much for free markets they should take responsibility for their own business ( as they preach for working class) and pull themselves out of their problem. But getting tax payers money ( which are mostly paid from middle class,) and on top if ithat huge tax cuts it's absolutely OUTRAGEOUS!!!

Not radical - just honest and true! Perhaps in the Trumpium Era, honesty and truth are radical.

Somehow the Pentagon never suffers from austerity. Why is that?

@@sharongillesp its not trump its the system that creates capitalists like him. also the truth has a radical bias yes.

@@sharongillesp It is Radical because it goes against the hegemony of current society.

yeah, lets destroy capital and consume everything now so we can live in poverty tomorrow

Cringe.

Only two "ideologies" are allowed, The classicist Austrian school and the psuedo-Keynesians, neither challenge capitalism. I wonder why that is, hehe.

K.I.S.S. Austerity is simply the vast majority (99%) tighten their belts so a small minority (1%) don’t have to tighten theirs at all.

@@sharongillesp Don't forget there is no reason to tighten belts OTHER THAN so the small minority can become mega billionaires.

So, she's just copying hitler?

@@LetsGoGetThem That's an economic theory. Gramsci wrote about cultural ideology. It's more connected to the way capitalism as an idea is enforced more than the capitalistic theories on government intervention.

Evil overlords

Oxymoron

@@MathGPT Another part of that equation is placing retirement funds in the stock market. The 2008 crash should've been a wake up call. Instead financial planners, even fiduciary financial planners, continue to recommend the market. My depression era, working class parents understood the market is only for money you're willing to risk losing. Financial planners have yet to read the memo.

@@MathGPT Social Security & Medicare r both the most successful programs in American history. U really don’t understand exactly what our social security program is doing in total if u believe it to b less than an individual private sector option.

@@MathGPT Other countries in the OECD and top Democracy Index score do have political donors stealing the reserves. Brits knew their Imperial Model would kill 2,000,000 using herd immunity. Oxford model was for mitigation based on vaccines, masks, and distancing. Brits find eugenics of their elderly a bit unsavory and their mortuary lobby doesn't push for faith over vaccines like America's do. 27.5% was the mortician's gain in Aug of '21.

Amen, I'm in a union and I hear some weird conversations about: the economy, the stock markets and the plight of workers as a whole, that make me wonder sometimes if these people understand they wouldn't have what they got if it wasn't for all the unions being as strong as they were in the past ... we are nowhere near as strong as we were and it shows.

lol, It's also called a liberal

You mean Democrats in the US

Leave it to a rightie to jump into an intelligent discussion with some ridiculous, reductive, and frankly ignorant bit of partisan hackery.

@@MP-db9sw I would argue the one thing a rightie and a socialist have in common is that they both hate liberals

Thank you! After working for a large corporation 45 years, losing ground every year, I could not agree more. Just amazed by how many of the poorest workers buy the con!

Very true although I think that is changing pretty rapidly. There is a lot of class anger. The problem is we've been denied the vocabulary to discuss class conflict for the past 100 years and the economy was so good for a long time so people stopped fighting.

That is simply the natural flow of time. It is was dictated by the passage of fate. The US as a nation caused tremendous amounts of suffering and disaster to the rest of the world. It is only natural that it will fall, it will be forgotten and it won't be pretty. It is delightful to watch, though...

​@@ioritenshi Certainly interesting to live through.

Suppy side econ. Financialization of markets,gutting pension fund for the 401k crapshoot. Plus false idols like Jack Welsh at GE who ruined a company and shed jobs for short term profits...

Eff you and all the other commies expecting free handouts to lay around doing nothing

I feel you, but careful... When feudalism was done for, the first capitalist order was unrestrained industrialists forming society to their will. What u identify as feudalism is actually the consequence of capitalist dynamics

Which is why in nations like the UK and US 1% of the population own c. 50% of the wealth and power. That figure was lower before 2008 austerity and it will be much higher after 2022 austerity.

Tax cuts are literally the opposite of Austerity. Increasing tax, limit spending, is what austerity means. Lowering tax and welfare at the same time is more in the range of post 70s neoliberalism. Should be clear if you look at Germany, which has employed austerity on itself, usually with success. What this video really does, is completely redefining "austerity" as a concept to some ideological monstrosity oppressing the working class. Its ridiculous, its pure left wing populism and trying to redefine a useful term that people react emotionally too. Even if youre left wing, you shouldnt buy into this manipulative narrative. If she was actually honest, then she would talk about how austerity has been a tool, which has some uses, but can hurt the working class. Like shes pretending that "cutting spending" means you have to cut welfare benefits. It can also cutting subsidies for succesful companies, at which case austerity is in a good thing for the working class.

Class war

Ok commie

Yup, and how this western liberal order are projecting their own faults on others.

But Fascism is actually about the government taking control of the economy, cults of personality have nothing to do with it.

@@MathGPT "It is those great individuals who solve meaningful problems and develop useful technologies" No, they don't. It's the workers who solve the problems while your so-called "great individuals" take the credit. You must be very deluded if you think someone like Musk is a scientist/inventor.

@@MathGPT It seems to me that laborers are still finding employment, filling some kind of need. At our southern border many pass on their way to labor here. Top of the hierarchy naturally tries to manage these forces. 'Let them eat cake' signals one view of their effort. Very possibly, along with their great accomplishments, these leaders have visited curses on humanity. Cutting edge advances play out long term as well. One book has it that the meek will inherit the earth.

Social and Economic History is fitting..

Economic theory especially in the more finance and neoliberal spaces often times is as speculative as the market itself. It’s interesting to see how economists rationalize it too.

@@tearsintherain6311 I hate it. Save me from my University. I want science.

Here's some simply history for you to study - Holodomor, Great Leap Forward, Killing Fields.

@@nonyadamnbusiness9887 I'll tackle Holodomor. 1- The name "Holodomor" was only coined decades after the event. Try to find evidence for the claim I'm making. 2- "Holodomor" is a fabricated narrative that suggests that it was a deliberate famine-genocide in order to starve Ukrainian people. 3- I want to make it clear that the famine in 1932 did happen. It was both because of social conflicts, but also because that year was a year that the Earth experienced much drought. Countries like Romania, Brazil and Kazakhstan also experience mass hunger. Kazakhstan indeed had more deaths than Ukraine. 4- The primary evidence for Holodomor comes from a publication in a Nazi Magazine called "Volkischer Beobachter". Where a man called "Thomas Walker" (a fake name for someone real) claims to have photographed and experienced certain things. This publication was eventually translated into english (with the same words and pictures) and published under the American Hearst Magazine. Now please go ahead and check the information I gave you. Find the primary publications in Hearst Magazine and also in Volkischer Beobachter and confirm with me. First, Thomas Walker is a made-up character and his registries do not exist in Ukraine. This is a hard information to find, you have to speak Russian. So this one you don't need to check. Second, the pictures in the magazine's article are fake. They are pictures taken in WWI, 2 decades prior to the incident in Ukraine. If you check those pictures, you can see even Czarist uniforms, those did not exist in the 30s anymore. Please confirm this information through methodic research. Third, Thomas Walker is one of the 20 men in the "primary evidence" for number of deaths "because of socialism" in the USSR. The methodology of the research was to ask 20 random men who have been to the USSR (many of whom were members of the Nazi Party) how many people they think died. They all guessed random numbers in the millions based on... pure and raw anecdotal evidence. The weakest and least valid evidence in science. The famine in Ukraine happened. There's no evidence that it was a genocide targeted by the USSR government. There's much counterevidence of the government trying to deal with this famine in ways that could allow for more people to live. The real number of deaths is high, but definitely not in the millions. You get selectively obsessed about these narratives and disasters, but you choose to ignore worse and really brutal stuff coming from whatever side you see as correct. Why don't you get triggered about the idea that 20 million soviet citizens died in a war caused by Nazi Germany ? We have evidence for those deaths. Nazi Germany was literally allowed to invade the entirety of Eastern Europe because the UK and France wanted them to clash with the USSR. Anyways, the workers should democratically manage and own their workplace. Good for me. Good for you. Good for everyone who does work. Bad for billionaire parasites who deploy military campaigns and sanctions against socialist countries and anarchist societies.

Brilliant commie nonsense

@@kalasmournrex1470 ... Insisting on making opposing class interests explicit and discussing it merely means overcoming the narrative of a people being united as a national community. You can still be a hyper individualist or whatever. But you don't get to pretend everyone benefits from your success.

​@@christian2i Maybe im missing something, but this video just sounds like pure, left wing populist ideology. See, this talk isnt actually about what people mean with "austerity". But it rather takes a term people naturally dont like (lowering your standards to save money), looks at bad austerity measures (overeager cuts in welfare+inequality), and then just goes on to pretend austerity is always bad, and really just a tool for class suppression. Im left leaning, but im pragmatic, and this stuff sounds just pure, classic left wing populism. Its not hard to show the absurdity of those semantics if you take it more critically: So, can we agree that you cant just take on infinite debt? Considering infinite growth isnt possible, or even if it is, its at least not working at infinite speed, that logically means you cannot take on infinite debt. And if you want to limit debt, you need to consider austerity measures as part of your toolbox. It shouldnt be your one and only goal, but its part of your toolbox. See how right about now european countries suffer because they took on too much debts, even those like Italy. Otoh, Germany, which always had some austerity and kept debt low, fares better despite a giant energy crisis. So clearly, some austerity, in some situations, can make things easier on the general population, and working class. That is why Germany or France can spend tens or hundreds of billions on support their people, while then dropping country on another country in crisis., namely Ukraine. When people say austerity, or consider the policy, they indeed do not mean a monstrous ideology, they mean conservative money management. Which, as much as it hurts to admit, has its place. We can change the meaning of "austerity" to what the video says, but then we need to find a new word. Which is kinda of pointless exercise. Hence this is emotoinally loaded, left wing populism. I find this stuff very frustrating, because it doesnt actually benefit the working class, let alone the weakest of society.

Of course she’s Italian, can’t mistake it 😜

@@giacomomonaco5533 Btw a country massively struggling with debt right about now. I wonder why she dislikes austerity measures. Or what kind of measures couldve avoided that level of debt.

Its maybe the best thing about RU-vid.

Than listen to Thomas Sowell and Milton Friedman instead

@@lukacspolgar5988 Why?

@@m0L3ify Because they can apply economic theories, which are at its most basic form is the study of scarce resources with alternate uses. No more, no less. Also consider that she claims in 1922 economists conspired to crush the material well being of workers. If she is correct, they were very unsuccessful, it seems everyone world wide has benefited greatly from the benefits of capitalism. By any metric, my hunch is we are materially better off than we were 100 years ago, and that the rate of material well being accelerated over the last hundred years at a rate exponentially higher than the previous 2000 years.

Except she doesn’t, she’s horrendously ignorant of basic economic theory and is nothing more than partisan hack.

Money is a good servant, but a poor master. Also old school economics and business.

The emperors new clothes are still new

@@Jonathanwiksten Do you think rich haven't planned your rebellion? Maybe you're smarter than them.

austerity economics is not the concept of wealth extraction, but the political theory of implementation and justification the British managed to extract trillions from its colonies just using military repression, austerity economics achieves the same ends on domestic populations with a veneer of legitimacy

i like the last act with the guillotines

Translation: you are worthless and lazy and expect everyone else to finance your xbox

99% of people won't ever even know what she's talking about.

@@nocapnobs7845 They may not know in the academic language she’s using but they know instinctually, which is why people are protesting across the globe.

The economics profession studies how capital flows in a free market uninterrupted/with government intervention. It is a study of what is, whereas communism is a theory of how things "should" be... like a cat "should" eat vegetables instead of meat.

@@alexuvarov7441 Just missed the point entirely.

@@carycunningham9510 Please enlighten me with your vast wisdom.

@@alexuvarov7441 Nope, just not important.

@@carycunningham9510 thought so.

No the anti-strike laws are about keeping thr railroad industry investment free and maintain its state of slow decay. The workers are disempowerd for the sake of yielding max profits while providing the least amount of efficiency that is still tolerated. profitability isnt equal to efficiency since efficiency can relate to different things. Like beeing efficient at making money or at moving things fast or without unnecessary resource destruction etc. Same for the need of a stable economy. Stability and acceptable fluctuation vary with the time frame you look at. Grinding down railroad infrastructure (just look at the obscene amount of railroad crashes) and squeezing max profit out of it may be perfectly fine if your goal is to minimise disturbances and investment needs for 4 years but completely fails in an 10 to 20 year timeframe.

Strange how the quintessential fascist Hitler always denounced Capitalism as a Western evil isn’t it? You could almost be forgiven for thinking this woman is State sponsored.

Is there a light side of capitalism? Most goods, arguably all goods, have some level of exploitation happening in their supply chain. And the unjustifiable economic and political authority capitalism creates for the upper class is always a net negative for the majority. But agreed otherwise. Glad to see the intellectual push-back. Hopefully it foreshadows a working class push-back in the future.

@@that_heretic Capitalism started as a push-back against feudalism so, in a weird way, it has "good" things about it. Although I prefer socialism. I would rather live under a Keynesian industrial capitalism, than our current rentier capitalism.

@@that_heretic there's many good sides. In fact it's the best system so far. Unwash your brain lol

@@that_heretic What do you propose an an alternative?

But Hudson is rather neo-Keynesian, she's not: she's disingenuous and thus undeclaredly communist.

Well what is the opposite of austerity? Printing money. Gee that has worked well hasn’t it ? I suppose it depends on your point of view. Lenin said that the best way to bring down Capitalism was to debauch the currency.

@@roughhabit9085 Liz Truss the secret Leninist

@@roughhabit9085 The opposite is investing in social future. The fact you couldn't even think of that is telling.

@@roughhabit9085 I respectfully ask that you stop and think for a moment... where does the funding for US defense spending come from? Please, show me the legislation that adds "taxes" to pay for military spending. You can't because it (legislation) doesn't exist. All defense spending by the US is money printed (typed on keyboard) out of thin air. So "printing money" is not the opposite of Austerity. We have Austerity now and we are printing billions to send to the MIC for Ukraine weapons, as well as to Ukraine for paying salary & free medical care to Ukraine's NAZI infested government.

@@TheRantingRooster Get bent Tankie.

Did she just say the Fed raising rates is a regressive tax that hurts the poor? The Fed had to hike-up rates to lower/tighten the money-supply and deal with inflation. Inflation hurts the poor the most as a practical matter. And the entrepreneur is the "driver of the economic machine" because they conceive of and fund (riskily) new products and services adding new value to the economy. A favorable climate to entrepreneurs increases the amount of their endeavors; thus exponentially raising the value of the economy. These are simple to understand concepts. And we will eventually need to institute extreme austerity measures - probably this decade. Social Security has 60 trillion (!) in unfunded liability. Medicare has 103 trillion (the fuck!). It's all crazy shit.

no she's not

@@laniefeleski7288 you male a good point. However, there is a difference between a conducive climate to ALL entrepreneurs and the "billionaire cult" with a few billionaire buying political power to consolidate their markets. Workers can also be entrepeneurs when they take initiatives to make their daily work better and hence they should get credit for it

@@paularnoldus1877 I more or less agree with this.

She sounds like a political economist as opposed to a real one

Laughing hard!

It wouldn't be _her_ failure. She'd blame it on austerity. 😉

Haha well said

And her premise is looking backwards. In the present, automation has caused a great loss of numbers of people she would define as "workers", which then dilutes the political power of such people - but only in western countries. Automation and the relocation "workers" in totalitarian countries have also impacted the power of "workers" more than "austerity". She also ignores the growth of government regulation of the workplace for safety, wages, hours worked, benefits, etc., which have made worker organization, politically or otherwise, unnecessary or less valuable in many western countries. And, she didn't mention that the end of WWI was accompanied with the introduction of the income tax in the U.S., which has never been about austerity for the government, although one could argue it has caused austerity for those paying it at the lower end of the income brackets (along with sales tax on necessaries). Finally, no fascist government was austere (nor have any communist or socialist governments been austere, either). Power does not create austerity for those with power, despite their statements in favor of austerity. Those in power live lavishly.

@@franktatom1837 What is also apparent is that politics is now primarily about supporting your team, rather than analyzing arguments and facts. Until this changes any so called expert will be supported as long as they are wearing your colours.

Actually I think the inflection point was during the reformation and the end of the monastic period. but it would take me a video to explain.

Hard to believe time is not cyclical after that, that where history doesn't repeat it often rhymes

It was this recent pandemic that demonstrated the power of the working class. It exposed newer generations to that power. Now the Rich are afraid and they what to use the cudgel again. I don't think it will work the same. The Baby Boomers are leaving the work force and the population difference is noticeable. So, they will need to import labor or crash the economy. Take your pick.

Hey don’t forget inflation defeated the Roman Empire

@@jcrockett870 Have you heard of Dr. John Vervaeke from the university of Toronto? If not, check out his RU-vid channel and lecture series. He has a whole thing about how the reformations lead to WW1, WW2, and the current cultural Nexus we find ourselves.

As a new investor it's always great to hear from a person who has gone through all the difficult times and come ahead of it. It's unnerving to see your portfolio go from green to red but as mentioned if you have invested in quality names just have to keep adding to them and stay the course.

@@TeresaBrickle I see any market condition as an opportunity. So far I've made north of $260k in raw profits from just Q3 of 2022 under the guidance of my Financial-Advisor "Cathy Louise Locke ". Am I selling? Absolutely not. I have purchased growth stocks too a little at a time over the past few weeks. I am going to sit back and observe how this all plays out.

@@Curbalnk WOW!! Please how can i reach this advisor of yours as i will be retiring soon?

@@velayuthman Look her up on the web as she is renowned and has an official webpage for consultations. Mind you, carry out your own DD to see if she's the right fit for your long-term goals. NOT FINANCIAL ADVICE!

Passive income is key. And do is generational wealth

Well, the evil in the system has already been uncovered for quite a while by a funny bearded man name Karl....

Unfortunately I am a subhuman Ape who deserves to be exterminated immediately.

0

I think I get the gist, but 'well said'? I think she's a terrible communicator. She should practice a little austerity with her run-on sentences and oVER emPHASizing.

Totally agree! She is incredibly articulate, shows a deep knowledge and understanding of her subject, and gave a master class in unpacking an extremely complex subject logically and understandably, so that someone like myself, who is by no means an economist, was able to easily follow along and understand her argument. Can’t wait to read the book!

Well said maybe ,but she doesn't know what he's talking about! Can't believe she is a teacher! Laura , you look like you want to learn about this. Before this video I never heard of this miss, and actually what made me write was my shock . I am not an academic,but I do know a fair bunch on economics in general.

Time for a new game.

New game for sure. This presentation doesn’t bring anything new to that need. Just selling a book from my pov.

@@bigbillhaywood1415 oh do you mean like a Nouveau French Revolution…..off wiv their ‘eads? Pardon my French but plus ça change plus c’est le même chose

More like, within capitalism, austerity is the cost paid by the voter, for asking for the things that destroy capitalism.

@@jonathanaliff6121 The cost paid by the voter for asking for things that they need. There i fixed it.

Agreed. I've never been so excited to read a book from an author like this!

The wars that the US is pulled in to are instigated by capitalist leaders who maneuver for limited resources and land grabs. While doing this they clamor for worker alliegance, at the same time that workers are sent to die for the capitalist agenda. Often times they even make up from whole cloth the reason to start the war (Gulf of Tonkin incident in Vietnam, WMD in Iraq). If workers were in control of the country they could stop this from happening, and then the people wouldn't have to die in pointless wars, and protests could flourish. Austerity needs to be seen as a form of economic warfare against your own people.

I don't think the book includes any original empirical results. It's a theory.

Tell us, when you found it ..

I hope you realize that she's not saying austerity is good, nor that capitalism is the ultimate answer to economy.

There is no capitalism, if the Government prints money to keep companies alive. You guys slow or what?

Uh, it's been the single biggest destabilizing agent of capitalism. Keeping labor well compensated and happy is what created the American golden age. it's the reason we didn't slide into fascism like the rest of the world did. Boomers, while working entry level jobs that "don't deserve money" controlled more than triple the total economic pie that the millennial generation did on their entry into the work force. When more people have more money to spend, the more opportunities there are for capitalists to capitalize on. Social or government spending, or recognizing the value of labor in society, are all not communism.

That is an accurate observation.

@Tight n Nerdy that is extremely short sighted, and ultimately wrong. Government "investment" in anything is a waste of other people's money in things no one needs. For a short time it seem to make the economy prosper, but it does by driving up debt, inflation and taxes. It is basically like someone trying to live a lavish lifestyle by spending borrowed money. It collapses at some point. The problem is that it takes longer for a country like the US to collapse that the 8 years of some democrat president. Then some other guy comes in from the republican party and he tries to fix all the damage, then you blame him for the austerity. Look at Argentina and you will see what an unrelenting ideology like yours can do to a country. From highest GDP per Capita in the world to this pile of crap we have today. That is what government spending does to a country.

@Tight n Nerdy 90% rate that no one paid. You are deluded and ignorant of history. Rich people in the 50s effectively paid less taxes than they do today. You are the one brainwashed by concepts contrary to basic maths. Taxing the rich is a trope for the economically ignorant. It sounds nice for a socialist, but every time it is done the results are terrible. Argentina is seeing this first hand now. France tried it with Hollande, and gave up. Rich people will just leave if conditions are unfavorable to them, and they take with them all the money, entrepreneurship, investment and job opportunities. You raise taxes on the rich and the tax revenue goes down. I don't expect you to understand these obvious things, but this is the reality.

@Tight n Nerdy I don't watch Fox News or any other thing from your country. I would figure I have read many more books than you. Your misplaced pride is typical. Classic Dunning-Kruger. Keep up those beliefs, the consequences will serve you well.

It was indeed very good

Just compare her brilliance to clowns like Trump, MTG and Lauren Boebert.

You mean stupid work?

What's for sure, you won't learn what passes for economics at most other universities.

Interesting. Really got me thinking now..

minor correction, slavery never ended in the US. Lincoln's freeing of the slaves is a lie. Slavery wasnt abolished it was merely recontextualized into prisons, where it has been ongoing to this day. As Killer Mike said, "Free Labor is the cornerstone of US economics"

A lot of people believe the current system is cheaper and easier than slavery. You can be employed and paid at a fixed rate and a corporation can budget those expenses. Those expenses are tax free, only profit is taxed and they will find a work around for that. You will always pay your taxes so all of the benefits like roads, police, fire, etc, are paid by the middle and lower class. Slavery required that the slave owner provide accommodations, food, clothing even medical care which is all costly, unpredictable and not their businesses focus. Also slaves made no money so any taxes or dues to keep public infastructure working had to be paid by the people with actual money. Remeber too that the low and middle class spend ALL of their money. So one way or another all the wages you earn return to the rich!

My guess is she’s on the spectrum and doesn’t realize how loud her voice is when she talks

@@Ozrictentacles87 She's Italian. They always yell as their normal conversational voice.

@@daniel.lopresti Oh this is true. My bad lol.

That's maby because she is not an economist. She is philosopher sociologists

Try Thomas Sowell's Basic Economics.

When one is convinced that one's personal well being is inextricably bound to the success of one economic model to the exclusion of all others, one will fight tooth and nail to preserve it no matter how poorly one is treated under that model. As an American who was fortunate enough to spend a decade abroad, I've realized how much of my country's perspective is driven by the lack of knowledge and experience of other country's systems that actually work. Without exposure to these other models, it's easy to conclude one's own way is the only "natural" way to do things. No place or practice is perfect but not being able to really see the alternatives means you have nothing by which to truly compare.

@@mikemcaulay9507 I'm an immigrant. Spent my first 25 years abroad and honestly I couldn't agree more. 👏

Maybe we all get the economic system we deserve. Maybe we like to wallow in the mire of ignorance. Just sayin.

@@zdave6083 I grew up very conservative and one of the things I found that makes this so difficult is the lack of exposure. I was sheltered like many not to mention the way the media tends to tell us only one really works. I guess what I'm saying is there are a lot of people who don't know any better and haven't been reasonably exposed to other ideas. I think one of the main reasons I got out of that mindset was living outside the US for a number of years. That, and I've always been curious and loved science. That was the door I walked through to get it. Most people don't have those things. At least not in my experience within conservative circles. There are those who are aggressive in their defense of ignorance but there are also a lot who just haven't been able to overcome the propaganda of their youth. But for the grace of God go I, and all of that.

@@mikemcaulay9507"there but for the grace of God and all that." How bout none of that? More " scientific " don't you think?

Government destroyed housing, not the market.

This is commie bullshit.

Collectivists are wrong.

Maybe it’s time to drop neo-classicism then. It’s never too late to make peace with old Marx

this amateur history buff understood all of this when I read Marx in junior high school

It is insane that anyone's brain could accept it as natural order. I was 18 when I figured out it was obviously not - I dropped out of economics and I don't regret it. Shady stuff this society is built on. Even shadier reason for it.

Wym natural order? nature is not this ugly, stop making things up. This was mainly about the flawed nature of capitalism

Is valuing people as individuals bad?

@@schwarzerritter5724 Selfish rugged individualism is not about valuing the individuality of others.

@@prschuster What is the difference?

Whatever it is, it's been very successful. I'm grateful for it.

No. America in the last 50 years is in decline of competitive private business economy. Look at government participation in GDP. The FED alone did all these corporate and banks bailouts. Is that how enterpreneurship works?

I always thought of austerity as the ultimate price paid by the voter for asking for things that destroy capitalism.

Important for technocrats who need more excuses for control

@@mikebastiat more important for rational people to understand what these statists are going to do to us with their technocratic approach. Comments to this video are scary. I’m happy I found at least one dissenting opinion.

@@bgaripov There's a remnant out there, brother, who have the ability to discern what is wicked (statism) and what is righteous (liberty). Praise God. And indeed, the level of idolatry and enthusiasm for this lady and her bogus "economics" is very concerning. It almost seems like the work of a bot. Alas, people are psychotic.

@@mikebastiat i' m italian and agree with you, im not sure if She Is communist/ or so much socialist. Capitalism Is not perfect,It has a lot of bullshit but i think Is the best monetary system we have even if i have a lot of question for the future. Probably i' m gonna buy her book cause i wanna know what Is written.

@@lorenzosoro9365 She's most likely a propagandist. At the very least, a fool. But sure, read the enemy too. Then get you a Holy Bible and expose the fraudsters.

@@ThomasVWorm The banking and monetary systems do seem to be a complete mystery to mainstream economists.

@@ThomasVWorm You might like this. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-uelfbu4EcH0.html Mark Blyth - The Liberalism Scam

yup. if we keep prioritizing profit over need, how will we ever solve global warming? the United Nations tried 3 times in 50 years and failed at each junction.

really is based on lies, so sad...

You are a worker? Maybe you should grasp higher. It bugs me how people seem to love their chains and collars.

That’s not how it works. Not everyone can be a boss; workers are needed, and they are at least as important as entrepreneurs in creating value and wealth and they should be treated as such.

It's not rage, it's cultural. Some cultures speak more 'loudly' without being angry.

She appears to be sneaking at a normal level to me

We italians are loud...sorry in fact we could speak a bit more quietly

You don't need the book. You need to read some history.

No.

@@reesetorwad8346 you don’t know how to read? You don’t understand basic conversation? Can you tie your shoes on your own? Still thinking of the questions you must be answering with these comments.