Despite general agreement on the academic theory behind economics, the implementation of those findings into society usually leads to disagreement. There are simply too many variables within a society to achieve a consensus. So with the unpredictable nature of individuals, how can economists even begin to predict the results of their theories? Milton Friedman reflects on his process, “What we insist on is that you’re not able to predict random, irrational behavior. And therefore, the only kind of behavior that you can hope to predict is behavior that has some regularity. One individual may behave any way at all. But …
Dead Wrong® with Johan Norberg – Resource Scarcity or Abundance? (VIDEO)
The world population is at 7.7 billion people and counting. More people means more consumption, so resources are getting scarcer, and costlier, by the day. Dead Wrong®. That’s assuming that people don’t produce, and only consume. Free To Choose® Media Executive Editor and Cato Institute Senior Fellow Johan Norberg explains.
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Episode 20 – Charles Murray (Podcast)
Welfare programs are often touted as the saving grace of those living in poverty. But, as with any governmental program there tends to be unintended consequences despite noble intentions. How have welfare programs changed the overall culture of those living in poverty? It’s a question that most people have never posed to themselves. Social scientist Charles Murray has researched that very question for years. He poses that these programs have changed the perception of those who have money and those who work hard. “One of the most tragic things that you encounter are the stories of the 16-year-old who goes …
Dead Wrong® with Johan Norberg – Trade War: What is it Good For? (VIDEO)
“Trade wars are good and easy to win. When we are down $100 billion with a certain country, we just don’t trade anymore – we win big. It’s easy!” Oh boy that’s Dead Wrong®. Join Free To Choose® Media Executive Editor and Cato Institute Senior Fellow Johan Norberg to find out why a trade war is good for… absolutely nothin’.
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Episode 19 – Healthcare Reform (Podcast)
Reforming healthcare is something that only gets more complicated with time. Rising costs, increased government involvement, and complex insurance policies only compound the problem further. These are problems that have been going on for decades with no clear resolution. But, what about looking at healthcare from an economic standpoint? Can market forces solve the problem? Noted economists Milton Friedman and Alain Enthoven once sat down to discuss exactly that. The start of the problem, they found, came when employers became primarily responsible for providing healthcare. What started off as government price controls has evolved into the system we have today …
Dead Wrong® with Johan Norberg – The Wall They Already Built (VIDEO)
We need a big beautiful wall to protect American communities and stop immigrants from taking advantage of the US economy. Dead Wrong®. Just like with most big government projects, the thinking behind this leaves something to be desired. Find out why from Free To Choose® Media Executive Editor and Cato Institute Senior Fellow Johan Norberg.
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Episode 18 – James Buchanan (Podcast)
What is the most basic unit of our society which our values and norms are built around? For James Buchanan, that unit is the individual. It was his view that individual liberty should be the fundamental building block of a society. Laws and systems should be built around the protection of those individual rights in an effort to preserve liberty. His research and ideas won him a Nobel Prize in 1986, but underwent a transformation over the years. “I didn’t understand- had no understanding at all- of how the economy works or how the market works. I’ve often referred to …
Dead Wrong® with Johan Norberg – Pandemics and Modern Travel (VIDEO)
Ah-choo!!! You know, it’s that time of year and it’s a bit scary. We’re all waiting for the big one, the great pandemic. Because of modern travel, it will rapidly spread around the world and kill us all. Dead Wrong®. We have the cure for that misconception from Free To Choose® Media Executive Editor and Cato Institute Senior Fellow Johan Norberg.
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Episode 17 – Perspectives on Judicial Activism (Podcast)
The court system of the United States is supposed to protect and uphold the Constitution, regardless of personal beliefs. Increasingly, over the past few decades more and more rulings seem to fall on the side of those individual beliefs, rather than what is written under law. This type of judicial activism is in direct conflict with what the court system is meant to be. Our government is founded on a system of checks and balances, but when a court has the final decision, who holds them in check? After decades on the bench, Former Solicitor General of the United States, …
Dead Wrong® with Johan Norberg – Drones (VIDEO)
When drones replace planes, pilots lose their jobs. This is a brutal reminder of the rise of the machines and how we will all be out of a job soon. But that is Dead Wrong®. That argument crashes and burns very quickly when broken down by Free To Choose® Media Executive Editor and Cato Institute Senior Fellow Johan Norberg.
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