I know a lot of you have asked about what recommended books you should read to learn more in depth about the content on this channel. I made a complete reading list freely available to subscribers who join the channels mailing list. To download the reading list, click on the link below. nickpardini.substack.com/subscribe
@@dee_9100 You should have received in a welcome email that comes with the list. If you joined before I published list, there will be an email coming next week with it in it.
This is bound to be a very interesting series! Very curious what conclusions you come to. Just the potential history lesson alone will be worthwhile, I think, but all of the questions you raise in your closing remarks are great. Looking forward to it!
Depends ig. My country is a poor third world place and all the rich people are old money. And all of them were in some way or another cronies to previous governments. Maybe the people in usa might be free of crime but in most of the world wealth is built upon crime.
@@Anton43218 embezzlement of public funds. Awarding contracts to yourself while doing none of the required services. But in my country it's mostly embezzlement and extortion
Nah but my mom who was raised in mexico noted that just about all the rich ppl stay rich and the poor stay poor the politicians are controlled by the rich
it might come natural to a social climber with sociopathy and narcissism. it’s fascinating to see how those people ascend the power hierarchy. if the modern military and police didn’t exist, drug lords in the late 20th century would have conquered entire lands the way kings used to.
@@tfh5575 sociopathy and narcissism? What do you mean? If you were a middling lord with access to the king and your own small army, sure. But a poor peasant?
One thing is you mention banking as a way of making honest money. But in split circuit monetary system, bankers are more the ones who gain wealth through political connection. Namely, they have negotiated themselves into the position where they are allowed to create money out of thin air and loan it to people (and make money off that). This is long proven and I assume you know about this; see Richard Werner for example. Another thing to consider in the analysis of the US is that yeah it is a civilized society but only insofar as you are isolated from some domain where the intelligence agencies are active. So if you are one of those industries that the intelligence agencies see as useful, they probably got involved rather early in your rise to fortune, and so you have to invoke some complex analysis of how much your fortune in this industry was propped up by the intelligence agencies and their involvement in crime (which they are not convicted of but is obviously happening). In this way, you are pretty much exactly analogous to the “friend of the warlord” in your pre-1750 analysis. There are many ultra wealthy in the US who I think fall into this category.
If every fortune were built on a crime, our lives would be nasty, brutish, and short. Famine would be a regular occurrence in our lives (wealthy Scandinavia had its last famine a mere 150 years ago). Our medicine would be useless beyond orthopedics. Entertainment and amusements would be far more limited. We would be much colder in winter, while summers would be completely unbearable. We would not have instant communication. Yes, the super rich bent the rules, but they got their wealthy primarily by offering us something that greatly improved our lives - people were willing to give them a lot of money because their respective products really did improve their lives significantly.
it's a complex matter but this point is very true. Civilization is amazing compared to stone age all-day manual labor, but it makes people expect things many societies still outside modern economies don't have and don't expect. There are still a few semi-nomad tribes who do intensive manual labor all day, every day... a simple life may be morally easier but on the other hand it can't provide medicine to stop your children from dying young. For all the criticisms they deserve, and of course everything would be better in a free-market, still the evil pharmaceutical companies do make life better in return for all the money we give them.
Or you could just lobby congress to change laws so that what you're doing is no longer considered illegal, like charging 100% APR on retail loans. Life for those being exploited by payday loans are indeed nasty and brutish in many ways. Bread ans circus distract from brutishness, they don't change it.
I'm not really bothered by the old land-owning classes; they don't really run the countries in Europe anymore and even if they did, they would do a much better job than the mercantile class. The merchant and the capitalist class is more dangerous than the upper class.
@@AFNick Not really. There just shareholders who live off dividends and investments. There capital is mobile; hence not really loyal to any country. They can just move their factories and their capital. The land owners can’t do that as land is immobile capital. The land owners can only increase their wealth by increasing the productivity of the land and the country in which their property resides. Furthermore, the nobility has status and privileges only in their own country; they don’t really have much reason to be extractive or extortionate to the same degree as the capitalist class.
@@AFNick all the ways IP infringement is not being prevented because enforcement is not practical. For example, a single payer state negotiating down drug prices (common in Europe), or a patent troll suing someone else’s original idea. I see “new media” like the channel breaking points simply reacting to articles written by publications and not paying for the actual journalism that went into breaking that news. All these examples disincentive the creation of intellectual property.
I know a lot of you have asked about what recommended books you should read to learn more in depth about the content on this channel. I made a complete reading list freely available to subscribers who join the channels mailing list. To download the reading list, click on the link below.
nickpardini.substack.com/subscribe
I joined it but I don’t say the books, I only see the articles
@@dee_9100 You should have received in a welcome email that comes with the list. If you joined before I published list, there will be an email coming next week with it in it.
Thank you
This is bound to be a very interesting series! Very curious what conclusions you come to. Just the potential history lesson alone will be worthwhile, I think, but all of the questions you raise in your closing remarks are great. Looking forward to it!
Looking forward to it, Nick!
Depends ig. My country is a poor third world place and all the rich people are old money. And all of them were in some way or another cronies to previous governments. Maybe the people in usa might be free of crime but in most of the world wealth is built upon crime.
Built upon crimes but what kind of crimes?
@@Anton43218 embezzlement of public funds. Awarding contracts to yourself while doing none of the required services. But in my country it's mostly embezzlement and extortion
@@Anton43218 embezzlement of public funds.
@@Anton43218 Embezzlement of public funds
This is the truth
Great lesson. People don't speak about this.
Thanks
Do you think every great fortune is built on a crime?
Nah but my mom who was raised in mexico noted that just about all the rich ppl stay rich and the poor stay poor the politicians are controlled by the rich
I don't think so, the bible shows us we can be blessed by God honorable ways. King Solomon comes to mind. He was most likely a trillionaire.
@@SonoftheLivingGod7Jews are the enemy of humanity. Read your Bible.
Yes,stealing,lying!
Not every but many. Less than than in the past. Some might have been created true small crimes.
4:45 how would a poor man, a nobody gather such a force to invade a neighbouring land and create his own kingdom?
it might come natural to a social climber with sociopathy and narcissism. it’s fascinating to see how those people ascend the power hierarchy. if the modern military and police didn’t exist, drug lords in the late 20th century would have conquered entire lands the way kings used to.
@@tfh5575 sociopathy and narcissism? What do you mean?
If you were a middling lord with access to the king and your own small army, sure. But a poor peasant?
Short answer...yes.
Are there any advantages to institutionalized money?
Social connections primarily. I could do a video to dive deeper into it.
One thing is you mention banking as a way of making honest money. But in split circuit monetary system, bankers are more the ones who gain wealth through political connection. Namely, they have negotiated themselves into the position where they are allowed to create money out of thin air and loan it to people (and make money off that). This is long proven and I assume you know about this; see Richard Werner for example.
Another thing to consider in the analysis of the US is that yeah it is a civilized society but only insofar as you are isolated from some domain where the intelligence agencies are active. So if you are one of those industries that the intelligence agencies see as useful, they probably got involved rather early in your rise to fortune, and so you have to invoke some complex analysis of how much your fortune in this industry was propped up by the intelligence agencies and their involvement in crime (which they are not convicted of but is obviously happening). In this way, you are pretty much exactly analogous to the “friend of the warlord” in your pre-1750 analysis. There are many ultra wealthy in the US who I think fall into this category.
I don’t know enough about industries’ proximity to intelligence agencies to comment
Your content is great Nick. Id love to connect
If every fortune were built on a crime, our lives would be nasty, brutish, and short. Famine would be a regular occurrence in our lives (wealthy Scandinavia had its last famine a mere 150 years ago). Our medicine would be useless beyond orthopedics. Entertainment and amusements would be far more limited. We would be much colder in winter, while summers would be completely unbearable. We would not have instant communication. Yes, the super rich bent the rules, but they got their wealthy primarily by offering us something that greatly improved our lives - people were willing to give them a lot of money because their respective products really did improve their lives significantly.
In the beginning of your comment you’re describing the world before 1750, which strengthens my video’s core argument.
it's a complex matter but this point is very true. Civilization is amazing compared to stone age all-day manual labor, but it makes people expect things many societies still outside modern economies don't have and don't expect. There are still a few semi-nomad tribes who do intensive manual labor all day, every day... a simple life may be morally easier but on the other hand it can't provide medicine to stop your children from dying young. For all the criticisms they deserve, and of course everything would be better in a free-market, still the evil pharmaceutical companies do make life better in return for all the money we give them.
Or you could just lobby congress to change laws so that what you're doing is no longer considered illegal, like charging 100% APR on retail loans. Life for those being exploited by payday loans are indeed nasty and brutish in many ways. Bread ans circus distract from brutishness, they don't change it.
This was an interesting video!
I'm not really bothered by the old land-owning classes; they don't really run the countries in Europe anymore and even if they did, they would do a much better job than the mercantile class. The merchant and the capitalist class is more dangerous than the upper class.
The capitalist class at least has to earn their keep.
@@AFNick Not really. There just shareholders who live off dividends and investments. There capital is mobile; hence not really loyal to any country. They can just move their factories and their capital. The land owners can’t do that as land is immobile capital. The land owners can only increase their wealth by increasing the productivity of the land and the country in which their property resides. Furthermore, the nobility has status and privileges only in their own country; they don’t really have much reason to be extractive or extortionate to the same degree as the capitalist class.
great video
Please make a video on intellectual property
That’s a broad topic. What about intellectual property?
@@AFNick all the ways IP infringement is not being prevented because enforcement is not practical. For example, a single payer state negotiating down drug prices (common in Europe), or a patent troll suing someone else’s original idea. I see “new media” like the channel breaking points simply reacting to articles written by publications and not paying for the actual journalism that went into breaking that news. All these examples disincentive the creation of intellectual property.
i do not support the existence of intellectual property as legal mechanism to prevent innovation from others
Sounds like Georgism might be the political ideology up your alley!
for the algorithm
Well that sounds kind of cynic ;)