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 monopolization of money by those in power allows for control of people's energy and perceptions, and inflation can be seen as a snooze button on the alarm of perfect information.
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 concept of being a "price taker" in economics can be applied to understanding the Overton window in politics. Both involve the idea of market depth and the shifting of the midpoint by large masses of people and can impact prices and policies.
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.
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.
Economist Steve Hanke developed a modified version of Okun's "misery index" to evaluate a president's entire term by looking at factors such as exchange rate in the black market, real inflation rates, and long-term GDP growth.
The host introduces new guests from the research department, Alexa and Takara, to the economics podcast. They are known to provide critical insight and correct any misinformation presented on the program.
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 belief that printing money can solve the economic problems is a fallacy that does not lead to prosperity, but it results in inflation and eventually makes people worse off. There are no free lunches in the economy, and the addiction to universal income or subsidy can lead to permanent programs that only maintain the lifestyle people got accustomed to.
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.
