The topic of this show entitled Economics 101 deals with the subject of Economic Calculation, Market Rationale and its effects, along with considerations of the Scientific Principles of Sustainability.
This episode features long winded and generally insulting rhetoric, a special guest Gremlin, CID’s “Man on the Street” and the return of the evil peach-suit capitalist – Peter’s alter ego.
“Culture in Decline” is a satirical yet serious expression that challenges various cultural phenomena existing today which most of society seems to take for granted. Nothing is considered sacred in this Series except for a detached benchmark of fundamental logic and reason – forcing the viewer to step out of the box of “Normality” and to consider our societal practices without traditional baggage and biases.
I clicked the link and then saw Peter Joseph. I think I would rather not waste 30 minutes of my life listening to this blowhard bloviate his myopic, idiotic ideas.
Your criticisms are based on a lack of knowledge of economic theory. You claim the price mechanism can’t sustainably allocate resources and and you sight the existence of environmental externalities. Economic theory would suggest to internalise this, either through privitisation or government intervention.
Many of the problems you reference are in relation to corruption, which can be attributed to imperfect political, social and justice systems as well as the flaws of human nature. You suggest we base our economic allocation of resources on socialist principles but ignore the fact that people need incentives to produce the goods that keep the economy going.
Decidec,
This is always the first statement of the true believer. Actually, yes, he does understand economic theory, and there’s no evidence to the contrary. It’s not remotely complicated. The examples you attempt to give as evidence of Joseph’s not understanding are exactly themselves evidence of your own indoctrination and inability to see outside the box of which he speaks. Sort of like trying to talk to a Scientologist about the real world which exists outside their warped indoctrinated perception.
Your second paragraph begins with the usual whine common among many phony libertarians, trying to blame everyone other than the “free market” which doesn’t, nor has ever, nor could ever, exist. “Flaws of human nature” is precisely what phony libertarianism attempts to perpetuate, though mostly unconsciously. It’s THE most anti-human nature theory ever developed. Socialist principles, on the other hand, are perhaps the most congruent with human nature. The notion that incentive comes from individualistic selfishness is utter nonsense and has nothing whatsoever to do with human nature other than it’s an example of what it is not.
But in your fairy tale economics, what happens when it gets to the point where everyone has what they need, outside of food, occasional changes of clothing, water, and a few other things? What happens when there’s no need to keep producing, buying, etc..? The “economy” will collapse. This alone is enough to flush the game as impotent.
Robin, Lao, those aren’t arguments. Make an educated critique, or go to a knitting blog or something. Your comments are worthless.
Fucking waste of time listening to someone monologuing his school of thoughts with a myopic preconceived ideas
what a load of shit.
I recommend to watch this debate: http://www.youtube.com/watch?v=hxjwBZjADiM
the globe at 7:30 is incorrect