Matt Kibbe talks with economist Per Bylund about his new book, “How to Think About the Economy: A Primer.” Bylund explains what the economy actually is and how it works in terms that are easy for anyone to understand. Economics is not, as many believe, the study of money or finance, but a way of understanding human decision-making given the constraints of scarce resources. Per also explains the basics of the Austrian School of Economics, which differs in several important ways from the Chicago School and the Keynesian School, which are generally more popular with politicians and policymakers.
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How does the “magic” happen? Economic freedom, market choice. How does that happen? Individuals free to choose their for themselves, without any intervention from third parties, e.g., govt., e.g., regulators, politicians. Taxation is theft, regulation of people’s property by threat of violence. How does that happen? By vote. Voters choose to be unfree, to be ruled by force. Why? They are promised protection, safety, if they let others, a sovereign elite, run their lives at the point of a gun. Voters are promised many specifics, e.g., a limited rule. But look close. What does that mean? It means the rulers, judge themselves, limit themselves, which is an unlimited elite and enslaved people. It’s not freedom. It’s the politics that has dominated humanity forever. The little freedom enjoyed was by an inefficient authoritarian tyranny. Just say “NO!” the this. Take full control over your life, so you may “live & let live”, in peace, prosperity.
My bad. I didn’t proofread and there is no “edit” function. Why?