The traditional response in economics towards exhausted resources and environmental consequences involved relying on the free market but failed to understand the concept of depletion, thus creating a flawed structure. This concept continues and never truly improved with new jobs being created in exchange for lost ones in isolated industries and communities.
The hosts discuss the economics of wiring a single chair versus an entire cell and suggest throwing a toaster in water on the ground to start a fire, like in an Usher music video. The episode is an advertisement for the Asshole Army Patreon.
Discussion about the economics of small towns, including the average price of buildings and the tendency for individuals to hold out on selling.
The podcast discusses the disconnect between the current state of the economy and the reality of the future market, including the downfall of household net worth and the potential shift in risk-on behavior.
In this conversation, podcast hosts dissect the ideas in the book Freakonomics and criticize its narrative on economics and social issues. They talk about their new project "Trickle-Up Economics" as a way to reframe the American narrative.
The economic model is built on the mythical average man who does not exist in real life, and economists are incapable of adapting to real-world problems that conflict with their beliefs about economics.
Paul Samuelson's textbook, once considered the canonical book in economics, is no longer the only one. Furthermore, in every society, the majority of healthy adults have to work and produce more than they consume, as Marx argues.
In this episode, the host explains how the Federal Reserve Bank's money printing strategy in 2020 to combat deflation has led to inflation and higher unemployment rates.
This podcast discusses the idea that profit and loss encourage prudent risk-taking, not reckless risk-taking, while also exploring the concept of "you're not free to desist from it". The guest speaker provides insight into the importance of weeding out losing strategies and taking into account the effect of economic decisions.
The question of whether or not giving people money actually helps them is a contentious one among economists. While some argue that poor people may not use the money wisely, others believe that lack of resources is a barrier to bettering their lives.
This podcast discusses the idea that controlling inflationary psychology is crucial to preventing economic downturns in the future. It examines how people's beliefs about inflation and their behaviors towards it ultimately impact the economy.
The focus on macro economics should not come at the expense of micro economics, which is essential in ensuring basic needs are met for individuals and families.
The accuracy of economic predictions is debated as economists attempt to analyze and solve economic puzzles, but differing opinions among experts suggest that the field may not have a definite grasp on certain aspects of the economy.
The market value of a product is often decided by its supply and demand, and the higher price for a product means that it is highly demanded or less available in supply, leading to the prestige of possessing it.
This podcast discusses how the ancient human institution of bondage mixed with the proto-modern economic system of the Renaissance in the 15th and 16th centuries, and how this contributed to the era of a trade revolution. It explores the idea that progress during this time wasn't necessarily progress for all people, as slavery and inequality were still rampant.
