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132 sats \ 6 replies \ @Undisciplined 11 Jan \ on: Any of you heard of Gary's economics and is he a socialist? econ
European economics training is notoriously terrible. As bad as American mainstream economists can be, our counterparts in Europe are atrocious.
Inequality is one of the most preposterous things to focus on, because the implication is that if everyone were 10x wealthier, in real terms, we'd have all the same problems. What matters to real people is their own purchasing power, not other people's purchasing power.
this does get him a loyal following though, but honestly, people watching him are thinking they are getting smarter and learning economics, getting the warm fuzzy feelings because life is shit, but in reality, they are just becoming stupider, missing out on bitcoin and wallowing in anger at people with more money.
people like this need to be orange pilling hard
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wallowing in anger at people with more money
This is the part that bothers me the most. These bad popular "economists" generate a lot of resentment in society, which is really dangerous.
Good economists tend to instill a deep sense of appreciation in their readers/listeners towards the immense prosperity we enjoy.
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he should really rebrand himself to Gary the commie because he's just complaining about wealth inequality and it being unfair in all his videos.
at this point, you would think anyone could look at the various historical examples of doing wealth distribution to 'make things fair'
something else i find annoying, is that while yes the rich get richer, the average person in the UK now has a million ways to invest and also build savings (since that's his audience).
literally, open revolut and trade stocks, crypto, whatever
nobody is actively holding anyone down and out of assets or anything.
he's saying ASSETS ARE GOING TO GO UP, well ok, tell your audience to fucking buy some then. take a position.
instead, it's all just fluff about how the government needs to fix inequality. I mean, it's just nonsense really. how does an ineffective, debt-laden government fix something that doesn't even have a fixed definition. like saying the gov needs to fix the bad vibes lol
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how does an ineffective, debt-laden government fix something that doesn't even have a fixed definition
This is one of the key elements of the scam. So many of their goals are intentionally vague: fair share, living wage, affordable housing, breathable air, etc. You can never be held accountable when no one can say what you meant.
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Good economists tend to instill a deep sense of appreciation in their readers/listeners towards the immense prosperity we enjoy.
Yes, I think a good economics education has to start with why markets, entrepreneurship, and capitalism are good. Then we can talk about the issues at the edges, but we can't forget that this economic system has brought about the greatest gains in prosperity in human history.
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Thomas Sowell makes the point more often than most economists that poverty is the natural state we should be comparing outcomes to.
Asking what causes poverty is the wrong question. What we need to understand is why there's any prosperity at all.
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