Want to know more about studying at Oxford University? Watch this short film to hear tutors and students talk about this undergraduate degree. For more infor…
All new episode! Click to share: http://ctt.ec/nkeEB Visit the all new http://econstories.tv In this episode of EconPop, Andrew discusses the Emmy award-winn…
this guy is like mini Bo-Jo
Are History, Maths, Biology And Chemistry ok subjects for the course?
EconPop – The Economics of House of Cards: http://youtu.be/xkjrsDiQcRk
When public officials get elected they have the same desire for self
preservation like the rest of us, just on a bigger scale.
politicians are not people.
Even if governments WEREN’T corrupt, they spend taxpayers’ money in very
inefficient ways, make-work projects, etc. An Unconditional Basic Income
(UBI) is much simpler and more efficient. Switzerland is leading the pack
by holding a referendum on the idea of a UBI. If it passes, every Swiss
citizen will soon receive an Unconditional Basic Income. A UBI would
require MUCH LESS government control. It could be run by one computer that
deposits money into everyone’s bank account automatically. EVERYONE gets
it, both rich and poor. It is an adequate amount of basic income that gets
automatically deposited into everyone’s bank account every month (roughly
the equivalent of a US $10 per hour job). It retains human dignity because
it is the same amount to everyone, rich or poor, working or not. The
simplicity of the idea is its beauty. It would eliminate the “nanny state”
because there would be NO MEANS TESTING – so no bureaucracy.
How do you pay for it? Simple. A Financial Transaction Tax, which is a tiny
percentage taken off every stock market transaction. Take the money and
secure it BEFORE it is gambled away. In this system, employers won’t have
to pay for social services through taxes, so they won’t raise prices and
lay people off. In fact, a UBI would create MORE jobs because there would
be more people buying products. Business would increase. Instant
stimulation WITHOUT government intervention! I’m considering renaming the
Unconditional Basic Income to the ‘GUARANTEED CONSUMER DEMAND’.
Many corporations were saved from bankruptcy when the banks were bailed out
by the people. They essentially received corporate welfare. Yet now that
they are making money again, they don’t share it. They hoard it. $21
trillion is missing from the global economy because it is hoarded in
off-shore tax havens for multinational corporations. We can see that these
corporations ARE NOT creating jobs. Therefore, the world needs an
Unconditional Basic Income.
You want to make governments smaller, eliminate poverty and debt and
increase liberty with one simple change? You want to make SURE your pension
won’t be gambled away by stock market speculators? Then institute an
Unconditional Basic Income.
And a UBI would not cause inflation. Inflation is caused when businesses
raise prices of goods due to increasing costs of inputs and wages. But if
people don’t NEED high wages (because their income is assisted by the UBI)
then wages could remain stable and people would be less resistant to
working for the lower wage jobs (because they just need a top-up). Some
jobs would have to increase wages, but those would only be the highly
objectionable jobs with dangerous working conditions. So the supply of
products would remain the same or increase and demand for those products
would increase slightly at first, then stabilize. It’s only a basic income
after all, not luxury spending we’re talking about here. The high income
people’s UBI would be returned in taxes. So this fear mongering about a UBI
causing inflation is seriously hyperinflated!
Why EVERYONE, both left and right, is not jumping on this idea right now is
beyond me. I think it’s just that people are afraid of big changes – even
highly beneficial changes like a UBI. In the words of the late, great
Martin Luther King, “I am now convinced that the simplest approach will
prove to be the most effective — the solution to poverty is to abolish it
directly by a now widely discussed measure: the guaranteed income.”
Politicians won’t do it until there is a massive grassroots demand for it.
I have a playlist on my YouTube channel about the Unconditional Basic
Income. Check it out and get on board. Let’s get this UBI thing to go
viral!
#HouseOfCards AND economics? Great stuff, and can reach outside our bubble
do to cultural significance.
I thought that was Weird Al for a second, I should watch this.
Do you guys from Econ Stories happen to be from GMU?
#HOUSEOFCARDS #BestShow
YES I love this show
Except that every now and then politicians display completely anomalous
behavior, like John McCain who stood as the lone dissenting Republican vote
in the U.S. Senate defeating a Republican-sponsored Immigration bill that
was popular with 80% of American voters. His approval rating dropped to the
single digits among Republicans. But then, “magically”, in 2008 he became
the darling of the GOP establishment and captured the presidential
nomination. All is forgiven.
But then Bush proposes the TARP bailouts, this time very UNpopular with
main street America and especially with conservatives and independents. So
does McCain take the easy way out and differentiate himself from Obama? No,
he links arms with his Democratic opponent, infuriates his base and goes
down to defeat in a very tight race. But it was “only” the most important
election of his career.
Either McCain is the most principled politician in history, or he was
compelled by a hidden agenda
Anybody who thinks that pork barrel politics and just getting re-elected
explain ALL political behavior just isn’t paying attention.
the system is designed to destroy the country
Nice touch, with the nod to the original HoC, there…
Again, a good show until all the credibility gets sucked out by the
ridiculous puppet segment that adds nothing to the video.
The first prize for hypocricy in explaining the malice of the contemporary
state of affairs in economics undoubtedly goes to Mr. Andrew Heaton.
Indeed, in a time when the upper classes are practicaly exempted from
taxation, the focus remains on the government. What you should be worried
about is not whether the US government subsidizes areas that boost demand
and employment for Americans but the vast volume of capital that remains
untaxed flowing from tax heavens to the Wall Street fuelling
financialization. Your show is irrelevant and you preach bad economics.
While this is all true, it was the specific intent of the founders that
members of the House DO fight for their districts. Political “small ball”
as it were.
The greater danger was the change of the Senate to popular election.
Senators were supposed to regard the larger constituency, i.e. the entire
State they represented, and it’s place in the larger Union. And of course,
the President was supposed to represent the collective “will of the people”
all exerting equal, but different powers, essentially “balancing” out the
needs of the whole with that of the more local. This is what we have
lossed.
The problem with the libertarian view of “public choice” theory is that if
men were gods, it would work. That is not what Hayek teachers. Even if God
was in charge of a central authority, His decisions would still have to be
carried out by a bureaucracy with permission to threaten the use of force.
And those decisions would have the additional constraint of being singular.
It is important to note that to take advantage of the Hayekian idea of
distributed knowledge, the actors -even flawed ones- must be able to be
independent in action. Being independent changes the rules while the game
is in play. For a God to beat that he would have to also be unconstrained
by causality and by merely causing something to happen, he can’t do that.
pretty gooood!!!!
Show is great, I light up whenever I see it in my subscriptions!
“[Politicians are] just in it for raw unbridled power like Senator
Palpatine in Star Wars. And chilling as that thought is, it’s also
predicated on the idea that politicians, well-intentioned or evil, are all
competent, which is a big leap of faith” 5:10
The endings are kind of pointless. Real guests or no guests.
Brilliant.
Awesome
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