Why Economic Inequality Is a Good Thing | Mark Thornton
Is equality good and inequality bad?
Over the known history of man, increasing economic inequality is associated with rising standards of living for all. Using common analogies, increased economic inequality lifts all boats, and not only increases the size of the economic pie, but also cuts everyone larger pieces of pie.
The phrase, "old school economics," is often used positively or approvingly by many, but it’s rarely explained. What is this school and where is it located? You can be sure that it is not what is taught in most college classrooms today. It’s definitely not Keynesian or Marxist economics. But what is it?
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https://www.youtube.com/watch?v=wyfJ1aNrN6c
Ryan McMaken and Tho Bishop are joined by economist Mark Thornton to take a look at why so many economists keep telling us the economy is in great shape.
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https://www.youtube.com/watch?v=GQiwB8zM3x8
Sponsored by Carl and Lois Davis, this speech was presented at the Mises Institute's 35th Anniversary Celebration in New York City on October 7, 2017.
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https://www.youtube.com/watch?v=hnKoQXsuYj4
We have reached the end of Murray Rothbard's definitive treatise Man, Economy, and State!
Dr. Patrick Newman joins the show to wrap up the final chapters—labeled separately as Power and Market—showing Rothbard's economic analysis of government interventions. Newman and Jeff Deist discuss this quintessentially Rothbardian treatment of everything from price controls to taxes to subsidies to "public ownership," presented as always with clarity and devastating logic. Want to find out why the original publisher thought these concluding chapters were too hot for an economics treatise? Don't miss this episode!
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Man, Economy, and State: Mises.org/MES
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https://www.youtube.com/watch?v=FVa_HcLug58
In this episode, Chris Calton explores US drug policy between the Nixon and Reagan Administrations. Calton explains how one Christmas party in the 70s undermined the first serious effort to roll back the War on Drugs.
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Historical Controversies is available online at:
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Music: "On the Ground" by Kevin MacLeod (incompetech.com), licensed under Creative Commons: By Attribution 3.0
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https://www.youtube.com/watch?v=RebjJOqjsy8
Looking for adventure and glory, William Walker leads a group of Americans into Nicaragua to join the country’s civil war, with the hope of “Americanizing” Latin America. This episode is the Part 1 of 6 of the story of William Walker’s attempt at establishing his own Republic of Nicaragua.
[CORRECTION]: At 7:46 Chris Calton refers to John C. Calhoun as Vice President at that time. However, as Chris notes in the comments, "Calhoun was a US Senator for most of the time Walker was in New Orleans. I was rushing through the early years, and I was not being conscientious of the timeline. Thank you for the correction."
Chris Calton gives a revisionist look at the antebellum period leading up to the Civil War. This is the 14th episode in the second season of Historical Controversies.
Historical Controversies is available online at:
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RSS: https://mises.org/itunes/622
iTunes: https://itunes.apple.com/us/podcast/historical-controversies/id1304510096?mt=2
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Music: "On the Ground" by Kevin MacLeod (incompetech.com), licensed under Creative Commons: By Attribution 3.0
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https://www.youtube.com/watch?v=mHHBOMyHJSU
How do businesses actually manage — rather than plan for — continuous change?
The increasing adoption of systems thinking in business tells us that the world is changing very fast, and companies need to change at least as fast as their environment in order to thrive. It’s comfortable to talk about but hard and uncomfortable to do. Most people prefer to continue to do what they’re used to rather than embrace change and constant experimentation.
There’s a lot to be learned from the military where special forces are trained to specialize in rapid reaction in chaotic or VUCA (volatile, uncertain, complex and ambiguous) worlds. They face an ever-changing environment (often described as kinetic). They have a very pure evolutionary process: what wins, survives. While the military organization is hierarchical, military operations are flat so that tactical decisions can be made by the people on the ground.
While we are anti-war, we can nevertheless recognize that the military has experience and expertise in managing and organizing for continuous change. We can learn from it.
Show notes: https://mises.org/library/ben-ford-situational-awareness-and-managing-constant-change
"Apply Situational Awareness To Manage Change" (PDF): https://Mises.org/E4B_171_PDF
Ben Ford’s website, where you’ll find his Mission Control services: https://MissionCtrl.dev
Ben Ford’s LinkedIn page, with a lot of presentations and recordings to learn from: https://Mises.org/E4B_171_LinkedIn
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https://www.youtube.com/watch?v=u57g9aL4M1k