My father was an economist, and I got economic theory fed to me with dinner since I was old enough to understand words. When I got to the 7th grade, a history teacher used Diocletian as an example of an excellent central planner and explained how his strict price controls saved Rome. (She, like many people with degrees in "education," was quite left of center and a union organizer for the NEA.) I replied that price controls only create shortages and thriving black markets. I got a poor enough grade on my work on ancient Rome that my parents were called in for a parent-teacher conference. My father came home from that and suggested that I do what any good black marketeer would do: Tell the woman what she wanted to hear while ignoring everything she said as the ramblings of an ideological idiot. See...? Economics works!
@@GregoryTheGr8ster Our teachers' unions have been able to imagine what could be, unburdened with what has been -- such as, oh... say... the entire Enlightenment.
"People have TRIED to use price controls earlier. But they never managed to do it PROPERLY. WE will do it PROPERLY. So THIS time it will succeed. Even though it has failed thousands of times before."
Great work Nick! Scooby snacks for you. Yup! This time it will work... Because we are more special than all those other people before us!! Praying for the USA and the entire World. My allegiance is to Liberty, and the Repubic.
So, “shrinkflation” existed in ancient Rome too! Diocletian couldn’t “build back better”. History always repeats itself because we refuse to learn from it.
Not we, the Marxists, the Socialists, the Communists, essentially the LEFT refuse to, not saying the right doesn't have it's own problems, but that is not one of them
It’s shocking to me how inflation(real inflation not market inflation) is is looked upon so favorably. It’s simple math to know just what dollar shrinkage actually does.
They keyword there is "refuse." And when we refuse to learn too many times, it becomes impossible to learn. I think we hit that point well before Trump ever came to be.
3:22 - 3:32 It's stupid people. everything is always the fault of these stupid people. 3:32 This is the message people should think about. I keep telling everyone whose afraid, *everythings happened before* and then I follow with a New Vegas quote *who are you that do not know your history?*
My 12 year old son is a huge fan of watching these together and he asked for one on why minimum wage increases can be problematic...or something to that effect.
You can violate Economic Law as easily as you can violate the Laws of Physics. Like Wile E. Coyote, you think you have beaten them ...just for reality to take over after a few seconds! -An Economist
not exactly so. Laws on economics can be, ummm, shifted a bit, for a while, which is impossible with physics. The problem is that then they strike back much stronger.
Hi Nick... I am a fellow vet and would love to hear the history and purpose of the 3rd Amendment to the Constitution...AND why we still need this. (And even the connection with the 1st, 2nd, and 4th). Your series is FABULOUS.
The price controls were only a symptom of the underlying problem which was inflation, which was only a symptom of the underlying problem which was runaway government spending. The root problem was that government spending increased to the point that even the extremely predatory Roman tax system couldn't raise enough taxes to pay for it, so the government started debasing the currency, which led to inflation, which led to regulated prices.
the problem NOW vs THEN is we now print money out of thin air, while they used GOLD, which Nixon took us off that standard in 1971- know BOTH sides of history folks
In defense of Diocletian, no-one back then really had a clue of how macroeconomics work. We do now and are still tempted to bang our heads on the wall.
Why Minute topic: Why does energy influence immigration? Or: Why does the availability of water change political policy? Would love to see a video on these "forgotten" topics. Great videos, longer form content would be nice on your main channel Nick
Amazing how people in power take a blanketed view upon something believing they solved what is on the surface but can’t see what is hiding behind the scenes as a consequence. This is why putting too much power on a person, group, or people is dangerous and vastly lethal to others who have to feel the results of their decisions
U have a LOT to offer -- you have the RIGHT ANGLE -- great content 00 -- great production. --- so what is missing ---- ? -- U PURPOSE maybe --- what TF ! is your purpose -- your driving angle -- your desired perspective 000 --> this is missing 000 --> Candice Owen -- U see her purpose --- CLEAR SIMPLE POWEFUL ---- WHY for U ? what is U deep WHY ? this is what is missing -- U have everything else RIGHT :)
Price control of goods leave people with no goods at all because it is always disastrous. The only way to make goods more accessible and cheaper for people is by COMPETITION.
True a free market however that is still not enough to bring down the price of goods and services. There are other factors that could bring down the prices are little or no government intervention from the corporate enterprise especially when raising taxes and interest rates. Let alone the private corporations to run the economy and eliminate the oligarch system.
Diocletian was the last nail in classical's Rome coffin. He wanted to pretend Rome was still grand and used the empire's last precious resources to build the "Baths of Diocletian" and also a magnificent palace for himself to retire at in Split, in what is now Croatia. With his price controls iron for nails was more expensive than nails, so no more nails. A misallocation of resources enabled by government money creation causes inflation and eventually makes bare necessities unaffordable for the population.
I wonder if anyone just went back to trading goods and services. If the money can't be trusted to hold value, the goods themselves should still be worth something.
So genuine currency, a free market, tariffs to prevent dumping, freedom of speech, the right to bear arms, and a Constitutional Republic make for a strong nation - got it! Sounds very much like MAGA.
It's what built this country and made it the best to live in.. Every time corruption, people whining and attempts at empty change are allowed it gets eaten away, not to mention mass immigration without the melting pot mentality, all will just destroy it and allow tyrants to take over.. But hey let's ignore lessons learned and do it anyway.. This has nothing to do with maga.
Hayek, Friedman, and Sowell were (and are) the geniuses. The attempts at economic policy by Nixon, Clinton, Bush, and Obama were pathetically inept. It's like they push aside the textbooks of brilliant minds to follow the petulant imaginations of a comic book.
What confuses me is that if you are a zero sum fool, like so many on the left, then it would seem to make more sense to TAX something to increase the supply.
Governments destroyed Rome. Corruption, nobility and the government were responsible for Rome's downfall. In addition, the Romans were racist and Rome's internal cohesion was lacking.
and how Romans could not be racists, if they saw what they and what everybody else achieved? If they had everyday experience trying to teach his slave to something advanced, at least to read? Reality is racists, yes.
And in other news, trickle down economics in a laissez-faire economy never worked either. The truth is that you need a balance of economic policies. You can't have a completely liberal economy nor can you have one completely controlled by the state.
@@bills5009 Trickle down economics is when governments give tax breaks to businesses expecting the extra money to flow down to the workers as increased pay. But the data shows us time and time again that the extra money the businesses get doesn't go back to the pockets of the workers, it goes straight to the owners, CEOs and shareholders. The worker's pay stays exactly the same. What has more of an impact on worker pay is whether there is a surplus or shortage of workers. When there is a lot of competition between workers, the pay goes down as workers choose to work for less money to get a better chance of being hired. Directly or indirectly speaking. But when there is a shortage of workers then they have much more bargaining power as they are in demand and the businesses themselves are fighting over workers. Giving tax breaks has no relation to the supply and demand of workers. It's only a ploy big businesses use to convince us to lower tax even though they don't plan on using it to benefit anyone except themeselves.
@@potapotapotapotapotapota I agree that the labor supply directly impacts wages. We have seen this demonstrated over the past few years. The simple truth is that businesses don't pay taxes. Their employees, customers, and shareholders pay the taxes.
Price control only works in a perfect system, meaning all data at all times same with centrally planned economies. So theory possible but never practical
About price controls - nearly all State governments force price controls - MINIMUM sale price controls on Tobacco and alcohol. That is price fixing. Video game makers also do this BS - cannot sell consoles or games for less than they THEY say. Price controls will work if applied properly. You do this by limiting their WEALTH. Anything over $1 million in assets (personal and compensation), tax at 100%. Businesses have every incentive to pay workers more and/or keep prices low. No it does not stifle businesses. If they don't want to do it I am certain that SOMEONE ELSE will gladly do it. Another way to do max price controls is to open up competition. Eliminate copyrights and patents completely. I am sick of 'whatever the market will bear' BS. They get rich while I have to struggle to make ends meet. Oh and require all businesses to run at least 90% capacity. No more shortages. Black markets have been around since governments were created. Reason for those is twofold - 1) Prices are waaaayyy too high. 2) Mfr's not producing enough to create artificial shortages and drive up prices (oil companies come to mind).
Price controls only work if the government owns all of the state's resources and manages them through a central economic plan. Otherwise they are never going to work. They simply can't work in a free-market economy (an economy with private ownership of means of productions) because they will obviously lead to shortage. The Soviet Union is a good example of how well price controls worked. For decades literally every citizen could buy with ease (in fact, they had guaranteed) all the subsistence goods (which were precisely the ones subsidized). And no, price controls had literally nothing to do with the disgregation of the USSR.
Even with central planning they wouldn't work. If you control prices, you lose sight of how much demand there is for goods, such that you can only make uninformed guesses about how much to produce, and which resources to invest in. It doesn't matter what system is in place, this reality doesn't change. The only way to kind of avoid this with central planning is through strict rationing. That way you can predict demand. But that crosses the line into tyranny, because you'll have to punish people who try to work around it. And people will try to work around it, because not everyone is well off with the rations that someone else laid out for them.
@@skaruts I already know how the problem works. I also know that no system is perfect and humans will always try to get what they want even in black markets. The point I was making was that in most socialist economies (excepting Poland and Yugoslavia) the policy of price setting in order to (try to) control supply and demand worked very well. All citizens had access to subsistence goods that enabled them to grow up in a healthy, secure way. And as history attests, "time" was not an issue, as the system was in place for decades and eradicated extreme poverty. Those who wanted more of what was offered (which I cannot stress enough, was enough) of course turned to black markets. The video makes the point that price controls lead to economic shortages, this is only partially true. It can cause a lot of shortage in free market economies, but in centrally planned ones it has a lot of benefits, even if still has its issues (there was a shortage of many consumer durables, for example).
So...the 20 year wait for a car wasn't a thing. Or the long bread lines and the empty grocery shelves. Sorry but I have friends who grew up in East Germany that will disagree with the utopia you paint. My favorite story from them detailed the meat shortages that caused them to eat the horses they used to plow the fields.
@@brianmccain8818 So clearly you didn't read what I wrote. I explicitly said that there was a shortage of many consumer durables (what do you think a car is?). I never stated it was a utopia, don't put words in my mouth (words in my text). As stated, everyone had access to enough (that's the key word: 'enough') susbsistence goods. If this was achieved through waiting in lines then I don't seee the problem (as if food lines aren't a thing in free-market economies XD) And the empty grocery shelves? You are clearly talking about the late 80's (when free-market reforms were put in place in almost all of east Europe, ironically). They ate their own horses? then you are talking about the 30's, when peasants literally ate their own animals because they were selfish bastards, or again, of the 80's, when the elite begun to remove socialism. I know people who grew up in the USSR, some focus on the good things, others on the bad things. Knowing someone who lived there is not enough. It's just his/her subjective experience. I know people in the US complaining on how bad things are there. Does this mean the US economy is a disaster? Can you see the failing in your logic? You not only need the subjective data. You need the objective one as well. All polls in every socialist country revealed that people in general were genuinely content with their quality of life. That everyone had access to healthy food in enough quantities is a known fact, not opinion. And they manage to do this thanks to a centrally planned distribution system using price controls.
@@Benjanuva The introduction of usury turned a successful, functioning empire into a failed state. Many acts and events, all turning about that one development.
My father was an economist, and I got economic theory fed to me with dinner since I was old enough to understand words. When I got to the 7th grade, a history teacher used Diocletian as an example of an excellent central planner and explained how his strict price controls saved Rome. (She, like many people with degrees in "education," was quite left of center and a union organizer for the NEA.)
I replied that price controls only create shortages and thriving black markets. I got a poor enough grade on my work on ancient Rome that my parents were called in for a parent-teacher conference.
My father came home from that and suggested that I do what any good black marketeer would do: Tell the woman what she wanted to hear while ignoring everything she said as the ramblings of an ideological idiot.
See...? Economics works!
the cost to argue with idiots
Our teachers' unions have made our public school system into the envy of the world.
@@GregoryTheGr8ster Our teachers' unions have been able to imagine what could be, unburdened with what has been -- such as, oh... say... the entire Enlightenment.
@@GregoryTheGr8ster LMAO that's a good one!
black marketer makes profits from this. You just learn to lie, so its profit for THEM, not you.
_'That wasn't REAL Communism...'_
Oh then there is the THIS time we'll do it better... uh huh.
"People have TRIED to use price controls earlier. But they never managed to do it PROPERLY. WE will do it PROPERLY. So THIS time it will succeed. Even though it has failed thousands of times before."
@@Tjalve70 Right? They don't even realize it has been done before and repeatedly failed.
Just like communism!
@@klaede9666 Just like communism.
Yeah they just didn't price control harder!
"Why __ Crippled Rome" is a whole genre in itself
Great work Nick! Scooby snacks for you.
Yup! This time it will work... Because we
are more special than all those other
people before us!!
Praying for the USA and the entire World.
My allegiance is to Liberty, and the Repubic.
So, “shrinkflation” existed in ancient Rome too! Diocletian couldn’t “build back better”. History always repeats itself because we refuse to learn from it.
Not we, the Marxists, the Socialists, the Communists, essentially the LEFT refuse to, not saying the right doesn't have it's own problems, but that is not one of them
It’s shocking to me how inflation(real inflation not market inflation) is is looked upon so favorably. It’s simple math to know just what dollar shrinkage actually does.
They keyword there is "refuse." And when we refuse to learn too many times, it becomes impossible to learn. I think we hit that point well before Trump ever came to be.
3:22 - 3:32 It's stupid people. everything is always the fault of these stupid people.
3:32 This is the message people should think about. I keep telling everyone whose afraid, *everythings happened before* and then I follow with a New Vegas quote *who are you that do not know your history?*
Well said. The same arrogance of believing you can design economy because YOU know better is an evil that won't ever go away
New Vegas! YES!😊
Another great video
I was saying a LOT of this in the 1980s. Price controls, dread and circuses, favoritism, too many wars.
I wish people could get it through their heads that price is a signal.
Diocletian must have been a democrat.
Then Anastasius must have been a Republican.
My 12 year old son is a huge fan of watching these together and he asked for one on why minimum wage increases can be problematic...or something to that effect.
Thanks for making this video
You can violate Economic Law as easily as you can violate the Laws of Physics. Like Wile E. Coyote, you think you have beaten them ...just for reality to take over after a few seconds!
-An Economist
Yea the problem is almost NO ONE views economics as a science with its own laws. They view it as an ideology
not exactly so. Laws on economics can be, ummm, shifted a bit, for a while, which is impossible with physics. The problem is that then they strike back much stronger.
@@antontsau The Law isn't "shifted". Action A causes B. You just don't see the results of what you've done (like a housing bubble) until later.
Hi Nick... I am a fellow vet and would love to hear the history and purpose of the 3rd Amendment to the Constitution...AND why we still need this. (And even the connection with the 1st, 2nd, and 4th). Your series is FABULOUS.
Even Richard Nixon tried price controls. Same result.
At least Nixon's price controls had some justification. He suspended convertibility and imposed what were from the outset, temporary controls.
@@nonyadamnbusiness9887 All I remember is that I couldn’t find a sirloin steak for years, but great comment.
@@edgabel6814 He was dealing with the result of fifty years of bad policy. There's going to be a lot more of that in the future.
he took us off the gold standard in 1971.
The price controls were only a symptom of the underlying problem which was inflation, which was only a symptom of the underlying problem which was runaway government spending.
The root problem was that government spending increased to the point that even the extremely predatory Roman tax system couldn't raise enough taxes to pay for it, so the government started debasing the currency, which led to inflation, which led to regulated prices.
That sounds familiar….
Which leads to shortages
the problem NOW vs THEN is we now print money out of thin air, while they used GOLD, which Nixon took us off that standard in 1971- know BOTH sides of history folks
In defense of Diocletian, no-one back then really had a clue of how macroeconomics work.
We do now and are still tempted to bang our heads on the wall.
So, the decline in Rome coincided with the devaluation of its currency…
🤔
Why Minute topic: Why does energy influence immigration?
Or: Why does the availability of water change political policy?
Would love to see a video on these "forgotten" topics.
Great videos, longer form content would be nice on your main channel Nick
Please add sources to everything you say. Makes these videos much more trustworthy and easier to verify.
I second that. 👍 As much as I trust Nick Freitas, I would appreciate cited sources.
All you have to do is open up a history book.
Tale as old as time
Amazing how people in power take a blanketed view upon something believing they solved what is on the surface but can’t see what is hiding behind the scenes as a consequence.
This is why putting too much power on a person, group, or people is dangerous and vastly lethal to others who have to feel the results of their decisions
U have a LOT to offer -- you have the RIGHT ANGLE -- great content 00 -- great production. --- so what is missing ---- ? -- U PURPOSE maybe --- what TF ! is your purpose -- your driving angle -- your desired perspective 000 --> this is missing 000 --> Candice Owen -- U see her purpose --- CLEAR SIMPLE POWEFUL ---- WHY for U ? what is U deep WHY ? this is what is missing -- U have everything else RIGHT :)
It’s all about politicians deflecting blame from their own policies.
Far prior to Diocletian. Hammurabi’s Code is filled with price controls. So, even farther before Diocletian than Diocletian was to us.
Just like Soviet supermarkets.
Price control of goods leave people with no goods at all because it is always disastrous.
The only way to make goods more accessible and cheaper for people is by COMPETITION.
True a free market however that is still not enough to bring down the price of goods and services. There are other factors that could bring down the prices are little or no government intervention from the corporate enterprise especially when raising taxes and interest rates. Let alone the private corporations to run the economy and eliminate the oligarch system.
The real low bass in the background audio is way too loud. Probably need a subwoofer to hear it though.
Some video on modern monetary theory was promoting the idea that massive money increases didn't cause inflation. 😂
Diocletian was the last nail in classical's Rome coffin. He wanted to pretend Rome was still grand and used the empire's last precious resources to build the "Baths of Diocletian" and also a magnificent palace for himself to retire at in Split, in what is now Croatia. With his price controls iron for nails was more expensive than nails, so no more nails. A misallocation of resources enabled by government money creation causes inflation and eventually makes bare necessities unaffordable for the population.
The Roman treasury minted gold coins with more and more silver, thus diluting the gold standard. This lead to inflation and the price controls.
The Law of Supply and Demand is not subject to legislative amendment.
At the end of the day, free markets itself lower the price.
Pretty sure you’ve done this type of vid before Mr Freitas
Reupload?
Well maybe then biood needs to be shed now too put things back in balance.
I wonder if anyone just went back to trading goods and services. If the money can't be trusted to hold value, the goods themselves should still be worth something.
So genuine currency, a free market, tariffs to prevent dumping, freedom of speech, the right to bear arms, and a Constitutional Republic make for a strong nation - got it! Sounds very much like MAGA.
It's what built this country and made it the best to live in..
Every time corruption, people whining and attempts at empty change are allowed it gets eaten away, not to mention mass immigration without the melting pot mentality, all will just destroy it and allow tyrants to take over..
But hey let's ignore lessons learned and do it anyway..
This has nothing to do with maga.
Hayek, Friedman, and Sowell were (and are) the geniuses. The attempts at economic policy by Nixon, Clinton, Bush, and Obama were pathetically inept. It's like they push aside the textbooks of brilliant minds to follow the petulant imaginations of a comic book.
What confuses me is that if you are a zero sum fool, like so many on the left, then it would seem to make more sense to TAX something to increase the supply.
Beard day!
Rome did not collapse, it's been dormant...now it's being revived...all one needs to do is read the word of God to understand this fact....
Governments destroyed Rome. Corruption, nobility and the government were responsible for Rome's downfall. In addition, the Romans were racist and Rome's internal cohesion was lacking.
and how Romans could not be racists, if they saw what they and what everybody else achieved? If they had everyday experience trying to teach his slave to something advanced, at least to read? Reality is racists, yes.
a series of Massive plagues
And in other news, trickle down economics in a laissez-faire economy never worked either.
The truth is that you need a balance of economic policies. You can't have a completely liberal economy nor can you have one completely controlled by the state.
Where was "trickle down" economics tried? And can you define what that is?
@@bills5009 Trickle down economics is when governments give tax breaks to businesses expecting the extra money to flow down to the workers as increased pay. But the data shows us time and time again that the extra money the businesses get doesn't go back to the pockets of the workers, it goes straight to the owners, CEOs and shareholders. The worker's pay stays exactly the same.
What has more of an impact on worker pay is whether there is a surplus or shortage of workers. When there is a lot of competition between workers, the pay goes down as workers choose to work for less money to get a better chance of being hired. Directly or indirectly speaking. But when there is a shortage of workers then they have much more bargaining power as they are in demand and the businesses themselves are fighting over workers.
Giving tax breaks has no relation to the supply and demand of workers. It's only a ploy big businesses use to convince us to lower tax even though they don't plan on using it to benefit anyone except themeselves.
@@potapotapotapotapotapota I agree that the labor supply directly impacts wages. We have seen this demonstrated over the past few years.
The simple truth is that businesses don't pay taxes. Their employees, customers, and shareholders pay the taxes.
These are the kinds of lessons that Kamala wants to unburden us from so it’s easier for her to do what she imagines.
You did a good job, at copying someone else’s video.
“Price Controls Never Work: Just Ask the Romans” Classical Numismatics.
Price control only works in a perfect system, meaning all data at all times same with centrally planned economies. So theory possible but never practical
If men were angels...
Dead channel.
About price controls - nearly all State governments force price controls - MINIMUM sale price controls on Tobacco and alcohol.
That is price fixing.
Video game makers also do this BS - cannot sell consoles or games for less than they THEY say.
Price controls will work if applied properly.
You do this by limiting their WEALTH.
Anything over $1 million in assets (personal and compensation), tax at 100%.
Businesses have every incentive to pay workers more and/or keep prices low.
No it does not stifle businesses.
If they don't want to do it I am certain that SOMEONE ELSE will gladly do it.
Another way to do max price controls is to open up competition. Eliminate copyrights and patents completely.
I am sick of 'whatever the market will bear' BS.
They get rich while I have to struggle to make ends meet.
Oh and require all businesses to run at least 90% capacity. No more shortages.
Black markets have been around since governments were created.
Reason for those is twofold -
1) Prices are waaaayyy too high.
2) Mfr's not producing enough to create artificial shortages and drive up prices (oil companies come to mind).
Price controls only work if the government owns all of the state's resources and manages them through a central economic plan. Otherwise they are never going to work. They simply can't work in a free-market economy (an economy with private ownership of means of productions) because they will obviously lead to shortage.
The Soviet Union is a good example of how well price controls worked. For decades literally every citizen could buy with ease (in fact, they had guaranteed) all the subsistence goods (which were precisely the ones subsidized).
And no, price controls had literally nothing to do with the disgregation of the USSR.
Even with central planning they wouldn't work. If you control prices, you lose sight of how much demand there is for goods, such that you can only make uninformed guesses about how much to produce, and which resources to invest in. It doesn't matter what system is in place, this reality doesn't change.
The only way to kind of avoid this with central planning is through strict rationing. That way you can predict demand. But that crosses the line into tyranny, because you'll have to punish people who try to work around it. And people will try to work around it, because not everyone is well off with the rations that someone else laid out for them.
@@skaruts I already know how the problem works. I also know that no system is perfect and humans will always try to get what they want even in black markets.
The point I was making was that in most socialist economies (excepting Poland and Yugoslavia) the policy of price setting in order to (try to) control supply and demand worked very well. All citizens had access to subsistence goods that enabled them to grow up in a healthy, secure way. And as history attests, "time" was not an issue, as the system was in place for decades and eradicated extreme poverty. Those who wanted more of what was offered (which I cannot stress enough, was enough) of course turned to black markets.
The video makes the point that price controls lead to economic shortages, this is only partially true. It can cause a lot of shortage in free market economies, but in centrally planned ones it has a lot of benefits, even if still has its issues (there was a shortage of many consumer durables, for example).
So...the 20 year wait for a car wasn't a thing. Or the long bread lines and the empty grocery shelves. Sorry but I have friends who grew up in East Germany that will disagree with the utopia you paint. My favorite story from them detailed the meat shortages that caused them to eat the horses they used to plow the fields.
Your communist liberal education is showing. Maybe you should go read some real books. Start with Thomas Sowell. .
@@brianmccain8818 So clearly you didn't read what I wrote. I explicitly said that there was a shortage of many consumer durables (what do you think a car is?).
I never stated it was a utopia, don't put words in my mouth (words in my text).
As stated, everyone had access to enough (that's the key word: 'enough') susbsistence goods. If this was achieved through waiting in lines then I don't seee the problem (as if food lines aren't a thing in free-market economies XD)
And the empty grocery shelves? You are clearly talking about the late 80's (when free-market reforms were put in place in almost all of east Europe, ironically).
They ate their own horses? then you are talking about the 30's, when peasants literally ate their own animals because they were selfish bastards, or again, of the 80's, when the elite begun to remove socialism.
I know people who grew up in the USSR, some focus on the good things, others on the bad things. Knowing someone who lived there is not enough. It's just his/her subjective experience. I know people in the US complaining on how bad things are there. Does this mean the US economy is a disaster? Can you see the failing in your logic?
You not only need the subjective data. You need the objective one as well. All polls in every socialist country revealed that people in general were genuinely content with their quality of life. That everyone had access to healthy food in enough quantities is a known fact, not opinion. And they manage to do this thanks to a centrally planned distribution system using price controls.
Why did Rome fall?
One word: Usury.
False. See above video.
Anyone who attributes the fall of Rome to a single act or event is foolish and naive about history.
@@JazzJackrabbitRead Central Banking and the Enslavement of Mankind
@@JazzJackrabbit
I came, I saw, I didn't concur. Although correct in its observations, they are incomplete.
@@Benjanuva
The introduction of usury turned a successful, functioning empire into a failed state. Many acts and events, all turning about that one development.