Episode 35 – Gary Becker (Podcast)

It’s impossible to predict the behaviors and actions of any one individual. So how can economists ever hope to understand the effects a shift in policy will have on the consumers within the economy? While individuals behave irrationally, groups give us more insight into understanding behavior and the impact those decisions will have on economics. For economist Gary Becker, one of those fundamental groups is family, “One of the things that families do is to care for their children, to invest in their children, to teach their children morals, skills, and other forms of behavior. Human capital deals with the …

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Episode 32 – Consumer Behavior (Podcast)

Humans are irrational beings. Choices differ from person to person, and even from lab experiments to the real world. So, with all that differentiation, how can economists expect to understand how market forces will impact the decisions that individuals make? It turns out that most individuals go about making decisions the same way, but the results of these decisions vary wildly. Nobel laureate Gary Becker attempts to explain how that process works, “To me, maximizing utility simply means the following: that consumers can order all the opportunities they have available to them…possible choices. They can order them so they prefer …

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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 …

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Dead Wrong® with Johan Norberg – How Not to Make a Sandwich (VIDEO)

Our ancestors produced everything they needed themselves. Whereas we consume things we don’t even understand how they’re created. Division of labor has resulted in an absurd alienated world. Wouldn’t self-sufficiency be more natural? Dead wrong. Free To Choose Media® Executive Editor and Cato Institute Senior Fellow Johan Norberg explains that without free trade, you’d more than likely starve before you could even make a sandwich.

 

 

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Dead Wrong™ with Johan Norberg – Unequal Benefits of Trade (VIDEO)

Free trade if for the rich and the big corporations. To help the poor we have to rid ourselves of our free trade dogmas. Read my lips. That is Dead Wrong. Free To Choose Media Executive Editor and Cato Institute Senior Fellow Johan Norberg explains why open markets, in reality, increase the purchasing power of the poor and middle class.

 

 

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