Episode 29 – Privatization Trends (Podcast)

When the Soviet Union collapsed, countries in the Eastern Bloc were faced with a huge challenge. They needed to take their socialist societies and convert them into capitalist ones. How did they change a country where most property was state-owned into something that was based on private property? Each country handled it differently and the results are not surprising. Despite these challenges in the early 90’s, Milton Friedman remained optimistic, “The hopeful thing about this is that the inefficiency of the former system is so great that the new system can make great progress even though they have very inefficient …

Share
Continue Reading

Dead Wrong® with Johan Norberg – Why Venezuela Collapsed (VIDEO)

Don’t blame socialism for Venezuela’s horrors. It’s just that the oil price collapsed, so obviously an oil dependent country couldn’t afford imports and all that spending. Dead Wrong®. Collapse is a strong word, as a matter of fact it’s not even the correct word. Find out why from Free To Choose® Media Executive Editor and Cato Institute Senior Fellow Johan Norberg.
Click here to sign up for email notifications of the next Dead Wrong!
Share Dead Wrong with your friends on Facebook and Twitter and start a discussion today!
To watch more Dead Wrong videos, click here.
Dead Wrong videos now on Roku. Locate our channel here.
Share
Continue Reading

Episode 27 – Morality of the Free Market (Podcast)

Critics of the free market system often point out that it is an unfair system due to it leaving some with wealth at the expense of oppressing others. What those critics often ignore is that exchanges in this economic structure are voluntary. Each side comes out of the interaction with their desired result. Since the seller is amassing wealth by helping others get the goods and services they need, isn’t that more moral than proposed socialist solutions? When it comes to the relationship between morals and economics, Dr. Walter Williams has this to say, “Unless you believe that there’s a …

Share
Continue Reading

Episode 26 – Government Regulation (Podcast)

Government regulation is a force that influences nearly every aspect of our daily lives. The intentions are usually well-meaning. They are created to fix a problem or a perceived market failure. The problem that we run into time and time again is that the fixes usually create another problem, while only putting a temporary patch over the initial problem. The response is usually another patch with the same result. In the words of Nobel laureate George Stigler, “The trouble is that normally the way (advocates) want to solve the problem is to create either a new agency, or a new …

Share
Continue Reading

Episode 25 – Money (Podcast)

What is money? For thousands of years currency was tied to a commodity, if the commodity itself wasn’t actually exchanged. Today, that relationship has drastically been altered. Money, as a human institution, has evolved from having a real value to only having a perceived value. Milton Friedman traces it back to one specific date. “It’s seldom that you can date precisely when there’s a major change in a human institution let alone in a monetary institution. But you know it’s an interesting fact that you can date precisely a really drastic change in the character in the monetary system around …

Share
Continue Reading

Dead Wrong® with Johan Norberg – Tax Havens (VIDEO)

Massive leaks have revealed how the rich hide their money in tax havens. Therefore, they expose the greed and immorality at the heart of global capitalism. Dead Wrong®! In this short video clip, Free To Choose Media® Executive Editor and Cato Institute Senior Fellow Johan Norberg explains.
Click here to sign up for email notifications of the next Dead Wrong!
Share Dead Wrong with your friends on Facebook and Twitter and start a discussion today!
To watch more Dead Wrong videos, click here.
Dead Wrong videos now on Roku. Locate our channel here.
Share
Continue Reading

Episode 23 – Monetary Revolutions (Podcast)

What effects did world events, such as world wars and depression, have on the economies of nations such as Germany, and the former Soviet Union? As hyperinflation raged, the real value of currency in these nations became a question mark. Countries today are still ravaged with the same problem. As revolutions erupt and regimes change, the effect on purchasing power is hard to ignore. How can the problems of “out of control” inflation be solved? As Milton Friedman describes the issue, “Country after country has seen its monetary system blow up in its face, and subsequently, it’s had to do …

Share
Continue Reading

Episode 22 – International Movement of Wealth (Podcast)

Money, wealth, and capital can move around the world in mere seconds. Within any economic structure, capital is the building block of prosperity. With relatively new ease of access to resources, how has that changed our society? Developing nations no longer need to start from scratch, or wait long periods of time to meet demand for certain items. This has fundamentally changed what is considered capital along with the way our world and our governments function. Author and Professor Richard B. McKenzie puts it in these easy to understand terms, “The big difference is not so much the need for …

Share
Continue Reading

Episode 21 – Why Economists Disagree (Podcast)

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 …

Share
Continue Reading

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 …

Share
Continue Reading