Q/A Timestamps: 0:25 - "How did you get involved in the school of Post-Keynesian economics?" 1:48 - "What advice do you have for aspiring economists / advice to people going into undergraduate (economics) from a-levels?" 3:10 - "What economic or political stance did you have for a long time before being convinced it was incorrect or invalid?" 5:47 - "What policies would you promote for stronger unions whilst limiting their worst traits?" 8:03 - "What is your favourite Simpsons episode and why is it Last Exit to Springfield?" 9:34 - "You said you're a behavioural economist. I've read Thinking, Fast and Slow and found it fascinating. Are there any books in a similar vein you could recommend suitable for a non-economist?" 11:16 - "What reading materials would you recommend for beginners wanting to learn about market socialism specifically?" 12:21 - "Can you talk/share about your videomaking process?" 15:35 - "Do you have any advice for new grad students trying to start in a field?" 17:10 - "What do you think of channels like economics explained who make short digestible content for mainstream audiences?" 18:53 - "What's your opinion on the pedestrianisation of Norwich City Centre?" 19:04 - "Which country/government in history would you say has been most closely aligned with your political/economic ideology?" 20:11 - "Is the IMF unambiguously bad for the global south or is there some nuance to its use as an instrument of neoliberalism? 22:18 - "What are some econ papers/books every socialist should read in your opinion?" 24:03 - "Are there any political philosophers that you like? If so, who? 26:10 - "Do you think the Chinese economic model can be adapted elsewhere or is it too context dependant? + "What should developing countries aim at in terms of a development model?" 29:09 - "Do you believe capitalists exploit workers and if so what is the mechanism of exploitation?" 30:38 - "What is your take on qualitative research methods in economics?" 32:09 - "What do you think about the argument which states that "Market mechanism could still breed inequality, therefore it's necessary to replace market with central planning as the first step to achieve socialism?"" 34:33 - "Is economics a worthwhile degree to pursue, as there is limited jobs for economics majors outside of academia, political advisory roles, think-tanks, authors, etc?" 35:50 - "What is your opinion on Doughnut Economics?" 37:34 - "If Scotland became an independent country, what currency should it use? Should it be a new currency, the Euro, a monetary union with the UK or Sterlingisation?" Why did I do this? Procrastinating on Uni essays.
Hello!! When business leaders say we have a labor shortage, why don’t they just increase wages to match the new Econ 101 supply/demand? Is it as simple as they collectively get together just want to repress the power of the laborers for their shareholders profits? I asked this to an upper manager at my big corporate company and he said that my generation just doesn’t like to work hard…
yes. as someone who also works in the corporate world. even if we have internalised hustle culture or the expectations on workers to put their heads down and serve business owners, being grateful for employment, knowingly accepting labour exploitation because "it is what it is", or thought to not question and ignore one's alienation from their labour - these cultural signifiers of believing bullshit with flimsy logic & no evidence like "younger generations are lazy" or whatever, is merely the product of wanting to prevent class consciousness and collective action among the workers. that's why corporations are willing to invest millions on curtailing any sort of unionization - because they recognize the threat of labour momentum to profits being far greater.
It would be amazing if you did a video on Ostrom and commoning/orthodox game theory. She did such amazing work and is a great introductory economist to respond to common assumptions regarding local markets.
@@unlearningeconomics9021 Hope that didn't sound demanding! Just got excited when you mentioned her. Obviously any UE content is good content. Your stuff really helped me conceptualize my quals readings.
@@unlearningeconomics9021 Economic Calculation in a Natural Law / RBE, Peter Joseph, The Zeitgeist Movement, Berlin ? Economic Calculation in a Natural Law / RBE, Peter Joseph, The Zeitgeist Movement, Berlin ruclips.net/video/K9FDIne7M9o/видео.html Peter Joseph & Friends | "The Viable System" | Toronto, ON, May 27th 2018 [ The Zeitgeist Movement ] ruclips.net/video/AFZjZa5ZAyY/видео.html “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” ― Buckminster Fuller
I'd be very interested in you doing a video about Landlording and the effect of speculative investing on the housing market. It seems like there is not a lot of accurate studies on the effect that predatory and monopolistic rental markets have on the local economies. "Common sense" would say that high home and rental prices would pull money out of a local economy and into the hands of small amount of landlords. Money that could be spent buying goods and services that would stimulate a local economy are instead given to small number of landowners that use the money to expand their non-productive investments. The high rent prices also put pressure on local business to spend more on labor so their employees can actually afford to live near the businesses.
Duuuuuude, thanks for answering my question! the inside of the doughnut relates to the SDGs indicators and the outside are the nine planetary boundaries (steffen, 2015). If you have the time, I highly recommend reading Kate’s book.
@@doomcow99 Not rigorous enough for u? It's a fantastic book if you come at it from the perspective of seeing it as a work to communicate effectively and create action
@@doomcow99 evidence counter to your position: - actually being used as a model in policy setting, such as in Amsterdam - enormously popular according to best sellers lists (obviously understandable to a wide audience) - The donut is almost exclusively what i see business leaders talk about when discussing green econ. You may find that cringe, but you can't deny that it shows successful communication where more rigorous models have failed. - friends of mine who aren't economics nerds actually talk to me about it and ask me questions on it, unlike degrowth economics, which they have rarely heard of
Until recently, I never thought of becoming an economist. I see economics as a study failing in so many way. Today's economics is pro-business and ignores climate change and until recently ignored inequality. I want to learn economics to fight economists.
It's in the interest of the economically powerful to push forward those economists who are pro-business and ignoring of climate change and the like. Become an economist and let your voice be heard!
Uhh maybe my college econ department is super liberal but a few of my professors are Marxist, talk about climate change gender inequality and a lot more
I feel you. I'm an International Relations major and the main reason that I study economics is to fight what is called "economism" which I believe is undermining social and political science.
You should really talk/interview with Zoe Baker about historical anarchist economics. Both of your no-nonsense (kinda flat tbh) british talking styles are wonderful and I honestly think the two of you having a discussion would be amazing. Moreover both of you are really amazing creators and honestly I wish there were more expressly academic voices in LeftTube. Furthermore I think your differing views about the role of the state and how we should be organizing society would be insightful to have a constructive discussion. Both you and Zoe have shown to be incredibly level headed and respectful in interviews with those with other opinions of you, and I think "debate bro" culture needs to be challenged by having constructive discussions rather than debates. Also it's like a quite childish playground fantasy of mine to have two of these incredibly knowledgeable leftists that I really admire to interact. Personally, I am an anarchist, and I have yet to seen a real challenge to anarchist economic and social models that I am swayed by. I think that I (and I am sure a lot of other people) would really benefit from having ideas challenged. I used to be very sanders/aoc welfare state socdem liberal type. I know a lot of leftists have become disillusioned from liberalism and welfare state organizing of the economy, but after that we've settled into our perspective ideologies. I think that it is really beneficial to be constantly having your views challenged, to a point of discomfort, is necessary to have a healthy worldview. That is one of the reasons I have gravitated towards anarchism. It generates people who are very skeptical of systems and power structures of any form, and even itself. I think broadly applying this skepticism to our philosophical views is an important to humanity as a whole. Anyway, love your stuff, and like I said, I would really love to see a colab or something!
@@fellinuxvi3541 Yes, I do. Honestly it is a lot of work to explain the mechanisms that would be established under an anarchist society, and while it is a stereotypical cop out for anarchists to say, "read the bread book!" instead of justifying their positions, but it is tiring having to re-hash the same foundational principles and worldviews that anarchism is predicated on, and I have to do it practically every day in the real world as someone who does a lot of political advocacy in my community. Quite simply, I think that almost any system can be effective using a horizontal power structure as means of organization without engaging in any type of domination or coercion. As I've said, Zoe Baker has a wonderful youtube channel about anarchism, and there are a lot of other anarchists on youtube who also give decent overviews of the philosophy behind things. Also, Read the Bread Book! and also Mutual Aid, and lots of other anarchist books! if anything it can provide an avenue of self reflection and challenge your worldview. You might be able to take some ideas and synthesize it into your own philosophical framework. At the very least you can use it to understand people who you disagree with so you can challenge their worldviews. I honestly recommend reading books by everyone on every side of every debate.
@@purple-flowers While I do agree with the general approach, I'm only now getting through Kapital, which is a very heavy book and kind of leaving me burnt out. I will try to get around to reading Bakunin and Kropotkin as soon as possible, as I generally think they were right over Marx in the real world, I'm only just now getting through theory, but as far as I understand, general criticisms of them include the fact that they don't truly show how could such a system work, and revolutionary Catalonia provides some practical issues played out in real life with horizontal organization.
Thank you very much for answering my question (wow, it made it to the title as well!). Funny enough, at the end you mentioned how US Dollar dependency was hurting Argentina and well... you do have at least an Argentinian viewer. Cheers, mate. See you at 250k.
The Swift critique of Berlin sounds identical to GA Cohen’s in Money and Freedom. Also, a lot of Matt Bruenig’s critiques of libertarians were anticipated by GA Cohen. Which supports my theory: GA Cohen is the best political philosopher to read.
Very good! I am a bit sad to see that my question on deflationary economic models like those advocated by Bitcoin proponents wasn't brought up, but appreciated the answers nonetheless. Congrats on 100,000 viewers.
I know this is an older video but I figure it was a decent place to ask since we are asking questions. Could you perhaps do a short bit on the writings of peasant economist Alaxender Chayanov? Agrarian economics is somthing very much over looked on RUclips.
the union thing in the anlo world is really weird. here in germany we just have sector unions and the idea that a union might only be for one company is really strange one for me.
Very interesting, I know in Ireland there is a bit of a push for sectoral unions, and there as a very large union merger a few years back bringing together many civil service and public sector unions. And the pilot, air traffic controller and cabin crew union into one union, the very same union! So a super union if you will
3:10 do you think that shifting right from beeing a revolutionary isnt necessary a rational revising of your own position but perhaps a mechanism to sustain your own mental health. Having a less hardline approach and beeing more pragmatic could be a method to first: be more acceptible in social settings and second: see less negativity in relation to contemporary society.
I'm way to the left of UE, but that seems to imply a non-revolutionary approach is always a selfish ideological position. It's an observable truth that life for the most disadvantaged can suffer greatly under economic upheaval. As an example, medicine shortages would be a real problem if pharmaceutical companies in other countries would refuse to trade or were blocked from doing so. A worldwide simultaneous peaceful revolution isn't on the cards, so there are genuine problems.
How is that not a rational revising of his position? Is rationality following one's own unfiltered beliefs about right and wrong to their extreme conclusion regardless of consequences? I think factoring power and health into the calculation is entirely rational, it expands rationality to other aspects beyond economic beliefs themselves. Either way, the answer he gives already provides a good answer, polycentricity. It's much harder to provide nuances solutions through revolutionary means.
Hi UE love the videos - could you do a video looking into the claims made by people like Michael Saylor and Saifedan Ammous about cryptocurrency and the economy? They seem to lean towards libertarianism and make A LOT of claims about inflation, the fiat standard, government responsibility and so on that to me seem totally ridiculous, and they get no push back on any of their claims even with their HUGE audiences. Take a look at their recent podcasts on Lex Friedman's channel for instance - they pull tons of views, the one with Saylor for instance has over 3 million.
Thanks, lots of usefull details. 37:34 I understand your take on a new one, but why choosing the puond over the euro? Politica aside, the UE is a bigger market.
UE, as someone in their late 20s from The Netherlands, left leaning, wanting to learn about Economics (101) at a cursory level, is there a specific book you'd recommend? In a Live React videos you mentioned Sabine Hossenfelder for example potentially using older Econ 101 references. What's a good modern reference then?
I wonder about the "central problem of the economics" a.k.a. "how to provide for unlimited needs with limited resources". But are people's needs really unlimited?
I'm wondering if you are no longer in favour of passing a law mandating firms become workers co-ps are you expressly in favour of any policies to promote them I.e Autogestión, Marcora law or Corbyn Labours version of the 1970s Swedish proposal to have a portion of shares for the workers - I wasn't too sure on your exact stance from your video and I would be interested to know :) Love your videos!!!
Yes definitely in favour of laws promoting them, what's key is that there is time for the transition. Too fast and they fail, which is bad economically and even worse politically!
@@unlearningeconomics9021 I agree with the gradual promotion of worker co-ops in general. However, when the time comes to mutualise firms, let's say the workers of a large firm vote for it in a referendum, do you think the government should buy the firm out out on behalf of the workers or outright expropriate the firm's assets? The former will almost certainly have to be financed through borrowing while the later could turn the UK (or any country) into an international pariah.
Economics explained made a video about Brazil and it's just wrong. They said it has big and dense rainforest between São Paulo and Rio, which would be true if he was talking about the times before these cities existed, since this rainforest is basically gone. They did also put pictures and videos of Barcelona and said it was Rio. Those are the things they did that shocked me the most since is just so wrong and it is such an easy thing to verify and they never excused themselves or corrected the video. I would not trust this channel tbh.
Yep and this interview in particular is great, I'll put it in the description too www.stlouisfed.org/dialogue-with-the-fed/chinas-industrial-revolution-past-present-future
I've heard some express (might have been you) that that WOCs are not ideal for all industries. Which ones? How exactly? What part doesn't work other than lack of familiarity?
Has anyone asked UE about Peter Joseph and the Zeitgeist Movement? Would love to have UE's informed opinion on PJ's book "The New Human Rights Movement" and his latest film "Interreflections". If UE is a 1991 human and I'm a 1993 human, it's likely he's heard of Peter Joseph and, if not anything of the above recent material, at least his original Zeitgeist series, with the first one from ~2007. UE, please give a non-dismissive consideration to PJ's work, it seems very well researched (New Human Rights Movement) and no one seems to want to consider his conclusions against money/markets. I guess the main reason is that no one can visualise an alternative to money/markets, but I think that doesn't mean we should dismiss PJ. Let me know what you think.
For someone who is really interested in a lot of the content of your videos, but not so much the calculus stuff, do you think there are meaningful academic and career paths? If so, what sorts of things could they be?
Don't know if you want to re-edit the video or just call it an L but your pic at 15:35 doesn't match the question asked. Love your videos mate. Cheers from USA
Unions are hard enough to start already at a individual corp level. How tf do you start a sectoral one? I work in cyber security, and started floating the idea of unionizing my workplace... 3 months later we were all laid off. AFAIK there are no cyber security, or even just general IT unions in America so a sectoral one would have to start from 0.
I'm considering postgraduate study, but I am frequently disheartened by how neoclassical most available courses are. I am based in the UK, do you have any recommendations of research groups/ universities which are more pluralist in their approach?
Hi, thank you so much for this video, it is very informative! As someone who was born and is currently living in one of the countries from the former Yugoslavia, I'm really interested in how do the Western scholars write about Yugoslav economic model. However, I can't access Robert Nielson's article since its website is private. Could you, please help me access this article? Thanks in advance
I'm not a big fan of your response about employability for economics degrees. For anyone wanting advice in terms of undergraduate economics. An economics degree to most employers is considered an equivalent, if not better, to a business degree. Economics degrees, even undergraduate, if you take econometrics, math, statistics, or finance courses throughout the economics degree you're definitely employable for fields like finance, marketing, and urban planning or at the very least for an internship to segue into a longer career in an adjacent field. You can even transition into something like Data Science or Data Analytics if you're willing to learn programming and all the other requirements associated with a Data Science/Analytics role.
I have been looking at a lot of norms in business and asking what they are based on. It seems like most management practices are based on pure superstition. Like the "red flags" of resumes such as having many jobs that have been short lived. Did anyone even find a statistical correlation to justify that belief? If an engine makes a funny noise, do you assume it's all junk? How can something as complex as a person be oversimplified to such pathetic degree? Even falling asleep at your desk as grounds for firing. If lives aren't at stake, maybe it's a good thing? I nod off when I have a deep thought that goes into an extreme sense of complexity. My job benefits from my deeper understanding of things. Maybe my brain is benefiting for a 2 minute break to meditate once in a while. Maybe it's a disability that can't be helped. Why are business executives and managers too stupid to challenge these assumptions?
Having too many jobs that you quit quickly could be a sign that you aren’t really committed to a job. For employers why would they want to train you up and pay you if you just quit three months in when they could hire someone else who had less jobs but worked for longer periods.
@@isexuallyidentifyasanapach4720 Based on what scientifically significant source have you determined that it was likely the case that they are not committed? Based on what metrics? Many stats can point to minorities as likely bad or untrustworthy if you think about a correlation, but there is a SIGNIFICANT difference between when a coorrelation justifies a prediction vs justifying an investigation to be sure. Having jobs that you are even uncommited to can also be BECAUSE they are bad jobs. Jobs that have nothing to do with the job you are applying. Jobs that don't challenge you or are mismanaged. What? It can't be a coincidence that someone ran into that many shitty abusive bosses? Nevermind that times change with the economy. Nevermind constant scandals in our politically corrupt system. This measure of a candidate being used to determine their candidacy is a WILD leap of assumptions. Having a username with the word "sex" in it could be a sign that you are a child sex offender. Should I proceed to notify the FBI that you've basically confessed?
@@youngidealist Jesus brother calm down, it's a youtube comment section lmao. I was not suggesting my reason was the end all be all to why bosses would not want to hire an employee, just a possible reason. It's not too farfetched if you imagine yourself in a employer's shoes. Imagine yourself as an employer in a business and you have two interviewees who have practically the same qualifications as each other. One of them has worked a lot of jobs but quit them in only two-three months, while the other has worked maybe one or two but has worked in them for around a year or two. The first interviewee, while sure the reasons you stated are totally valid and reasonable, but stills shows some concern. After all how would you know that this employee isn't just going to quit the job in the same timeframe as he did as all the others. Why would you want to risk spending resources training him up and paying him when he will just quit anyways? Meanwhile the second candidate, while yes he has worked less jobs than the first one, because of his long job terms he seems to show a higher level of commitment than the previous interviewee. Making him seem more desirable. Of course this is hypothetical, but it shows the mindset of an employer on how to decide which person to hire for the job.
@@isexuallyidentifyasanapach4720 i'm responding as if I were an employer for once in my life. I've sent so many applications that never get an interview, and then I see the other side finally and hear a bit of the fears and reasonings from HR and think, "I studied science for most of my life to work under the thumb of this level of stupid?" I'm passionate about it because it's been unfair every step of the way and to NOBODY'S advantage for it. For now, its just words in a youtube comment, but just try to realise that if these ways that have been practiced for so long without real justification are not actually the optimal practices to get what you want, then you can be ready and adjust now or wait to be mowed over by someone like myself who figures it out and finally gets the capital to compete. We all benefit sooner together if employers just pull their heads from their asses now.
I don't know how to spell a lot of the author names mentioned, and may even spell them too poorly for Google to figure out who I mean. I don't suppose a sort of bibliography is possible? but I'm guessing you don't have time to review what you said and take notes.
@@unlearningeconomics9021 oh, my bad. I was doing the "RUclips as podcast" thing where I start the video then turn off the phone's screen and stick it in my pocket, so I didn't realize the books were on screen. I did look at the video description, but didn't see a references section, so I must have spaced on that, sorry.
@@fellinuxvi3541 I just saw that, I don't know why it is tagged as debate. But I ment if he is interested in engaging right wingers of different types. I just think he could be a different type of lefty that can do better then the more common ones
I'd love to hear your take on corporation taxes. From what I've read elsewhere, there's apparently a level of consensus from left and right wing economists that the best corporate tax rate is 0% and best replaced with progressive income, capital, and consumption taxation.
The answer, as always, is that it depends on implementation and other policies. As a country, you don't want to trigger capital flight, but if you have policies in place to prevent it, then corporate income tax can be fine. The returns to the stock market are high enough that stocks are still the best option even with significant corporate tax and the consumption savings trade-off is probably irrelevant to most of the capital in the US due to who holds wealth. Still might not be the best tax form though.
it's clear from thousands of year's of data, that taxes are a horrible form of income redistribution, on the fact that those who have the money have the means to hide from myriad types of tax schemes. that being said, "charity" also is a horrible form of income redistribution, since it denies the authority of those affected, in favor of those who have the money, which leads to the same class bullshit that's been going on since currency was invented. the best form of income redistribution, is one in which those who actually create value,( such as workers, mother's, students, and the disabled) actually control the administrative mechanisms of distribution. in other words, for the public to directly seize the means of administration.
"Banning cars from city centers" is a great idea unless you're disabled and need a taxi to get places. Even in a place with good public transport, some people can't walk to the bus stop 🤷
this is why in cities we have paratransit services which provide shared door-to-door transit for people with temporary or permanent disabilities. the one in my city is part of the local public transit organization
If you can't walk to the bus stop there should be a solid social safety network that ensures you have the help you need to get around, in whatever form that needs to take. Free motorized chairs, full time or part time assistance, etc. This is not a good argument for keeping cities car focused.
Oh, yes! I love getting unsolicited advice from people who have not been in my situation. @TheWrekker This exists in my town. it is run privatel and sign-up requires you give consent to share any data with third party companies, which presumably includes the medical information you are also required to provide. Also, the service *starts* at 9am and can't be booked on the day - my GP opens at 9am and only takes same-day appointments. If I had signed up, I would have to plan journeys days in advance, they can't guarantee places for busy days, and I don't even get to pick the time. All this if I want to go to the shops 5 mins away from my house. No other non-emergency transit options are provided. @Bill S. Preston Esq. You see how you got pissed off at me for pointing out that "banning cars" negatively effects disabled people? That's how taxi drivers treat disabled people when they have to go into pedestrian-only areas, because it is extremely annoying, time-consuming, and frustrating for them :) @Cheddar Kung Pow "Disabled people should just have friends" is a frankly bizarre suggestion, but also an ignorant one. Disabled people should not have to rely on the kindness of neighbours to live their life. It causes undue burden on both parties when we are required to rely on the unpaid labour and expenses (like fuel?) of others to exist. This exact issue leads to victimised people being unable to leave their houses because their family won't let them or abuses them for it. Also, who the hell am I supposed to beg for a lift when none of my social network is supposed to have a car lmao. Don't think you thought that one through. @Crypt Beast idk what to tell you dude. I can't will those services into existence and I literally said you can't necessarily walk to the bus stop. I can't get to the only useful one, because walking 5 minutes is too much. - All of your valiant efforts trying to convince me that I pay way too much to get in a stranger's car if I want to go anywhere because I'm incapable of looking into alternatives. Have you considered shutting the fuck up with your ignorant advice that nobody asked for in future? ty xxx
economics aka chicken superstition in the main stream academia isn't a science so much an offshoot of financial cognitive dissonance so a social "science".
Q/A Timestamps:
0:25 - "How did you get involved in the school of Post-Keynesian economics?"
1:48 - "What advice do you have for aspiring economists / advice to people going into undergraduate (economics) from a-levels?"
3:10 - "What economic or political stance did you have for a long time before being convinced it was incorrect or invalid?"
5:47 - "What policies would you promote for stronger unions whilst limiting their worst traits?"
8:03 - "What is your favourite Simpsons episode and why is it Last Exit to Springfield?"
9:34 - "You said you're a behavioural economist. I've read Thinking, Fast and Slow and found it fascinating. Are there any books in a similar vein you could recommend suitable for a non-economist?"
11:16 - "What reading materials would you recommend for beginners wanting to learn about market socialism specifically?"
12:21 - "Can you talk/share about your videomaking process?"
15:35 - "Do you have any advice for new grad students trying to start in a field?"
17:10 - "What do you think of channels like economics explained who make short digestible content for mainstream audiences?"
18:53 - "What's your opinion on the pedestrianisation of Norwich City Centre?"
19:04 - "Which country/government in history would you say has been most closely aligned with your political/economic ideology?"
20:11 - "Is the IMF unambiguously bad for the global south or is there some nuance to its use as an instrument of neoliberalism?
22:18 - "What are some econ papers/books every socialist should read in your opinion?"
24:03 - "Are there any political philosophers that you like? If so, who?
26:10 - "Do you think the Chinese economic model can be adapted elsewhere or is it too context dependant? + "What should developing countries aim at in terms of a development model?"
29:09 - "Do you believe capitalists exploit workers and if so what is the mechanism of exploitation?"
30:38 - "What is your take on qualitative research methods in economics?"
32:09 - "What do you think about the argument which states that "Market mechanism could still breed inequality, therefore it's necessary to replace market with central planning as the first step to achieve socialism?""
34:33 - "Is economics a worthwhile degree to pursue, as there is limited jobs for economics majors outside of academia, political advisory roles, think-tanks, authors, etc?"
35:50 - "What is your opinion on Doughnut Economics?"
37:34 - "If Scotland became an independent country, what currency should it use? Should it be a new currency, the Euro, a monetary union with the UK or Sterlingisation?"
Why did I do this? Procrastinating on Uni essays.
You have done the lords work, I didn't have the energy today!
Oh, bless, I was trying to find the podcast rec and getting completely lost
D'awww! The bromance energy between these two is adorable.
"UE, can we stop for pluralist analysis of socioeconomic issues?"
"Yes"
Hello!! When business leaders say we have a labor shortage, why don’t they just increase wages to match the new Econ 101 supply/demand? Is it as simple as they collectively get together just want to repress the power of the laborers for their shareholders profits? I asked this to an upper manager at my big corporate company and he said that my generation just doesn’t like to work hard…
yes. as someone who also works in the corporate world. even if we have internalised hustle culture or the expectations on workers to put their heads down and serve business owners, being grateful for employment, knowingly accepting labour exploitation because "it is what it is", or thought to not question and ignore one's alienation from their labour - these cultural signifiers of believing bullshit with flimsy logic & no evidence like "younger generations are lazy" or whatever, is merely the product of wanting to prevent class consciousness and collective action among the workers. that's why corporations are willing to invest millions on curtailing any sort of unionization - because they recognize the threat of labour momentum to profits being far greater.
It would be amazing if you did a video on Ostrom and commoning/orthodox game theory. She did such amazing work and is a great introductory economist to respond to common assumptions regarding local markets.
I willl...one day!
@@unlearningeconomics9021 Hope that didn't sound demanding! Just got excited when you mentioned her. Obviously any UE content is good content. Your stuff really helped me conceptualize my quals readings.
@@unlearningeconomics9021 Economic Calculation in a Natural Law / RBE, Peter Joseph, The Zeitgeist Movement, Berlin ?
Economic Calculation in a Natural Law / RBE, Peter Joseph, The Zeitgeist Movement, Berlin
ruclips.net/video/K9FDIne7M9o/видео.html
Peter Joseph & Friends | "The Viable System" | Toronto, ON, May 27th 2018 [ The Zeitgeist Movement ]
ruclips.net/video/AFZjZa5ZAyY/видео.html
“You never change things by fighting the existing reality.
To change something, build a new model that makes the existing model obsolete.”
― Buckminster Fuller
I'd be very interested in you doing a video about Landlording and the effect of speculative investing on the housing market. It seems like there is not a lot of accurate studies on the effect that predatory and monopolistic rental markets have on the local economies. "Common sense" would say that high home and rental prices would pull money out of a local economy and into the hands of small amount of landlords. Money that could be spent buying goods and services that would stimulate a local economy are instead given to small number of landowners that use the money to expand their non-productive investments. The high rent prices also put pressure on local business to spend more on labor so their employees can actually afford to live near the businesses.
Kind of the topic of his first video on breadtube economics. In the past QnA he also said a land tax would probably be the best single policy.
Duuuuuude, thanks for answering my question! the inside of the doughnut relates to the SDGs indicators and the outside are the nine planetary boundaries (steffen, 2015). If you have the time, I highly recommend reading Kate’s book.
Nah it’s a little cringe, the only interesting thing she talks about is growth curves.
@@doomcow99 Not rigorous enough for u? It's a fantastic book if you come at it from the perspective of seeing it as a work to communicate effectively and create action
@@AllSystemsGreen yeah exactly, that is true that is the point of the graph, yet it performs poorly at that too. Hence cringe.
@@doomcow99 evidence counter to your position: - actually being used as a model in policy setting, such as in Amsterdam - enormously popular according to best sellers lists (obviously understandable to a wide audience) - The donut is almost exclusively what i see business leaders talk about when discussing green econ. You may find that cringe, but you can't deny that it shows successful communication where more rigorous models have failed. - friends of mine who aren't economics nerds actually talk to me about it and ask me questions on it, unlike degrowth economics, which they have rarely heard of
new unlearning econ video, mashallah
based
EDIT: Am watching and I'm very much glad that my question got in! Appreciate the extensive answer, as well.
Until recently, I never thought of becoming an economist. I see economics as a study failing in so many way. Today's economics is pro-business and ignores climate change and until recently ignored inequality. I want to learn economics to fight economists.
It's in the interest of the economically powerful to push forward those economists who are pro-business and ignoring of climate change and the like. Become an economist and let your voice be heard!
Uhh maybe my college econ department is super liberal but a few of my professors are Marxist, talk about climate change gender inequality and a lot more
Remember that your sample of economists is biased by what reporters choose to report
I feel you. I'm an International Relations major and the main reason that I study economics is to fight what is called "economism" which I believe is undermining social and political science.
@@mickeymaples4928 Wtf the White Nationalists were right??
Soon, we will have a 1 million Q & A
You should really talk/interview with Zoe Baker about historical anarchist economics. Both of your no-nonsense (kinda flat tbh) british talking styles are wonderful and I honestly think the two of you having a discussion would be amazing. Moreover both of you are really amazing creators and honestly I wish there were more expressly academic voices in LeftTube. Furthermore I think your differing views about the role of the state and how we should be organizing society would be insightful to have a constructive discussion. Both you and Zoe have shown to be incredibly level headed and respectful in interviews with those with other opinions of you, and I think "debate bro" culture needs to be challenged by having constructive discussions rather than debates.
Also it's like a quite childish playground fantasy of mine to have two of these incredibly knowledgeable leftists that I really admire to interact.
Personally, I am an anarchist, and I have yet to seen a real challenge to anarchist economic and social models that I am swayed by. I think that I (and I am sure a lot of other people) would really benefit from having ideas challenged. I used to be very sanders/aoc welfare state socdem liberal type. I know a lot of leftists have become disillusioned from liberalism and welfare state organizing of the economy, but after that we've settled into our perspective ideologies. I think that it is really beneficial to be constantly having your views challenged, to a point of discomfort, is necessary to have a healthy worldview. That is one of the reasons I have gravitated towards anarchism. It generates people who are very skeptical of systems and power structures of any form, and even itself. I think broadly applying this skepticism to our philosophical views is an important to humanity as a whole.
Anyway, love your stuff, and like I said, I would really love to see a colab or something!
That's very interesting, do you believe anarchist societies can coordinate without centralization? Or provide universal provisions?
@@fellinuxvi3541 Yes, I do.
Honestly it is a lot of work to explain the mechanisms that would be established under an anarchist society, and while it is a stereotypical cop out for anarchists to say, "read the bread book!" instead of justifying their positions, but it is tiring having to re-hash the same foundational principles and worldviews that anarchism is predicated on, and I have to do it practically every day in the real world as someone who does a lot of political advocacy in my community.
Quite simply, I think that almost any system can be effective using a horizontal power structure as means of organization without engaging in any type of domination or coercion.
As I've said, Zoe Baker has a wonderful youtube channel about anarchism, and there are a lot of other anarchists on youtube who also give decent overviews of the philosophy behind things. Also, Read the Bread Book! and also Mutual Aid, and lots of other anarchist books! if anything it can provide an avenue of self reflection and challenge your worldview. You might be able to take some ideas and synthesize it into your own philosophical framework. At the very least you can use it to understand people who you disagree with so you can challenge their worldviews. I honestly recommend reading books by everyone on every side of every debate.
@@purple-flowers While I do agree with the general approach, I'm only now getting through Kapital, which is a very heavy book and kind of leaving me burnt out. I will try to get around to reading Bakunin and Kropotkin as soon as possible, as I generally think they were right over Marx in the real world, I'm only just now getting through theory, but as far as I understand, general criticisms of them include the fact that they don't truly show how could such a system work, and revolutionary Catalonia provides some practical issues played out in real life with horizontal organization.
Thank you very much for answering my question (wow, it made it to the title as well!).
Funny enough, at the end you mentioned how US Dollar dependency was hurting Argentina and well... you do have at least an Argentinian viewer.
Cheers, mate. See you at 250k.
Is it wierd that I love these guys' voices/accents? :D They're kinda sexy and masculine but gentle and wise... oh dear ^.^
100% correct on Economics Explained! Better to stay away.
Awesome interview, your channel really is a gem
Congratulation reaching 100k. Well deserved I might add.
Who's the Post-Keynesian that UE recommends at 1:40? Tried googling around for Mark Levoir, but nothing turned up.
Its Marc Lavoie, Professor of economics at the university of Ottawa.
Ay congrats mate
The Swift critique of Berlin sounds identical to GA Cohen’s in Money and Freedom. Also, a lot of Matt Bruenig’s critiques of libertarians were anticipated by GA Cohen. Which supports my theory: GA Cohen is the best political philosopher to read.
Very good! I am a bit sad to see that my question on deflationary economic models like those advocated by Bitcoin proponents wasn't brought up, but appreciated the answers nonetheless. Congrats on 100,000 viewers.
Sorry man I just honestly don't have much of an opinion on Bitcoin 😬
I didn't realise sector wide unions weren't the norm. the one's i've been part of here in Australia have been sector wide.
Thoughts on left market Anarchism and mutualism?
This was somewhat answered in the first QnA. He said you'd still need a state or state-like organization to provide for universal provisions.
I don't think Unlearning Economics has read any of Graeber's works.
I know this is an older video but I figure it was a decent place to ask since we are asking questions.
Could you perhaps do a short bit on the writings of peasant economist Alaxender Chayanov? Agrarian economics is somthing very much over looked on RUclips.
can you make a video about MMT?
the union thing in the anlo world is really weird. here in germany we just have sector unions and the idea that a union might only be for one company is really strange one for me.
Very interesting, I know in Ireland there is a bit of a push for sectoral unions, and there as a very large union merger a few years back bringing together many civil service and public sector unions. And the pilot, air traffic controller and cabin crew union into one union, the very same union! So a super union if you will
3:10 do you think that shifting right from beeing a revolutionary isnt necessary a rational revising of your own position but perhaps a mechanism to sustain your own mental health. Having a less hardline approach and beeing more pragmatic could be a method to first: be more acceptible in social settings and second: see less negativity in relation to contemporary society.
I'm way to the left of UE, but that seems to imply a non-revolutionary approach is always a selfish ideological position. It's an observable truth that life for the most disadvantaged can suffer greatly under economic upheaval. As an example, medicine shortages would be a real problem if pharmaceutical companies in other countries would refuse to trade or were blocked from doing so. A worldwide simultaneous peaceful revolution isn't on the cards, so there are genuine problems.
How is that not a rational revising of his position?
Is rationality following one's own unfiltered beliefs about right and wrong to their extreme conclusion regardless of consequences? I think factoring power and health into the calculation is entirely rational, it expands rationality to other aspects beyond economic beliefs themselves.
Either way, the answer he gives already provides a good answer, polycentricity. It's much harder to provide nuances solutions through revolutionary means.
Hi UE love the videos - could you do a video looking into the claims made by people like Michael Saylor and Saifedan Ammous about cryptocurrency and the economy? They seem to lean towards libertarianism and make A LOT of claims about inflation, the fiat standard, government responsibility and so on that to me seem totally ridiculous, and they get no push back on any of their claims even with their HUGE audiences. Take a look at their recent podcasts on Lex Friedman's channel for instance - they pull tons of views, the one with Saylor for instance has over 3 million.
Thanks, lots of usefull details.
37:34 I understand your take on a new one, but why choosing the puond over the euro? Politica aside, the UE is a bigger market.
UE, as someone in their late 20s from The Netherlands, left leaning, wanting to learn about Economics (101) at a cursory level, is there a specific book you'd recommend? In a Live React videos you mentioned Sabine Hossenfelder for example potentially using older Econ 101 references. What's a good modern reference then?
I wonder about the "central problem of the economics" a.k.a. "how to provide for unlimited needs with limited resources". But are people's needs really unlimited?
Question: what do you think about Pat Devine's model of negotiated coordination, a form of decentralised planning?
I'm wondering if you are no longer in favour of passing a law mandating firms become workers co-ps are you expressly in favour of any policies to promote them I.e Autogestión, Marcora law or Corbyn Labours version of the 1970s Swedish proposal to have a portion of shares for the workers - I wasn't too sure on your exact stance from your video and I would be interested to know :) Love your videos!!!
Yes definitely in favour of laws promoting them, what's key is that there is time for the transition. Too fast and they fail, which is bad economically and even worse politically!
@@unlearningeconomics9021 I agree with the gradual promotion of worker co-ops in general. However, when the time comes to mutualise firms, let's say the workers of a large firm vote for it in a referendum, do you think the government should buy the firm out out on behalf of the workers or outright expropriate the firm's assets? The former will almost certainly have to be financed through borrowing while the later could turn the UK (or any country) into an international pariah.
Economics explained made a video about Brazil and it's just wrong. They said it has big and dense rainforest between São Paulo and Rio, which would be true if he was talking about the times before these cities existed, since this rainforest is basically gone. They did also put pictures and videos of Barcelona and said it was Rio. Those are the things they did that shocked me the most since is just so wrong and it is such an easy thing to verify and they never excused themselves or corrected the video. I would not trust this channel tbh.
What was the name of the Academic on Chinese economic development- Yi Wen?
Yep and this interview in particular is great, I'll put it in the description too www.stlouisfed.org/dialogue-with-the-fed/chinas-industrial-revolution-past-present-future
@@unlearningeconomics9021 cheers thanks!
I've heard some express (might have been you) that that WOCs are not ideal for all industries. Which ones? How exactly? What part doesn't work other than lack of familiarity?
You're one of my favorite channels, not only on the left, but in general
hopefully one day you see fit to re-radicalize towards the left lol
Bruh
Has anyone asked UE about Peter Joseph and the Zeitgeist Movement?
Would love to have UE's informed opinion on PJ's book "The New Human Rights Movement" and his latest film "Interreflections".
If UE is a 1991 human and I'm a 1993 human, it's likely he's heard of Peter Joseph and, if not anything of the above recent material, at least his original Zeitgeist series, with the first one from ~2007.
UE, please give a non-dismissive consideration to PJ's work, it seems very well researched (New Human Rights Movement) and no one seems to want to consider his conclusions against money/markets.
I guess the main reason is that no one can visualise an alternative to money/markets, but I think that doesn't mean we should dismiss PJ.
Let me know what you think.
For someone who is really interested in a lot of the content of your videos, but not so much the calculus stuff, do you think there are meaningful academic and career paths? If so, what sorts of things could they be?
Try political economy departments!
Don't know if you want to re-edit the video or just call it an L but your pic at 15:35 doesn't match the question asked. Love your videos mate. Cheers from USA
We'll call it an L
Damn it!! I don’t know how we missed that. That is very annoying but we’ll take the L and move on I’m afraid
Unions are hard enough to start already at a individual corp level. How tf do you start a sectoral one?
I work in cyber security, and started floating the idea of unionizing my workplace... 3 months later we were all laid off.
AFAIK there are no cyber security, or even just general IT unions in America so a sectoral one would have to start from 0.
I'm considering postgraduate study, but I am frequently disheartened by how neoclassical most available courses are. I am based in the UK, do you have any recommendations of research groups/ universities which are more pluralist in their approach?
What's ur take on Bitcoin?
He's responded to a comment regarding bitcoin saying he doesn't have much of an opinion on bitcoin
Will you do one on climate change data?
Interesting that you mention Yugoslavia. I follow a libertarian on Quora who disparagingly calls Elizabeth Warren a "Titoist."
Hi, thank you so much for this video, it is very informative! As someone who was born and is currently living in one of the countries from the former Yugoslavia, I'm really interested in how do the Western scholars write about Yugoslav economic model. However, I can't access Robert Nielson's article since its website is private. Could you, please help me access this article?
Thanks in advance
What are your thoughts on the Cambridge Capital Controversy?
UE or anyone else here have you heard of time based currency and if so what are your thoughts on them and is there any utility for building dual power
I'm not a big fan of your response about employability for economics degrees. For anyone wanting advice in terms of undergraduate economics. An economics degree to most employers is considered an equivalent, if not better, to a business degree. Economics degrees, even undergraduate, if you take econometrics, math, statistics, or finance courses throughout the economics degree you're definitely employable for fields like finance, marketing, and urban planning or at the very least for an internship to segue into a longer career in an adjacent field. You can even transition into something like Data Science or Data Analytics if you're willing to learn programming and all the other requirements associated with a Data Science/Analytics role.
I'm not sure how this contradicts what I said?
I have been looking at a lot of norms in business and asking what they are based on. It seems like most management practices are based on pure superstition.
Like the "red flags" of resumes such as having many jobs that have been short lived. Did anyone even find a statistical correlation to justify that belief? If an engine makes a funny noise, do you assume it's all junk? How can something as complex as a person be oversimplified to such pathetic degree?
Even falling asleep at your desk as grounds for firing. If lives aren't at stake, maybe it's a good thing? I nod off when I have a deep thought that goes into an extreme sense of complexity. My job benefits from my deeper understanding of things. Maybe my brain is benefiting for a 2 minute break to meditate once in a while. Maybe it's a disability that can't be helped.
Why are business executives and managers too stupid to challenge these assumptions?
Having too many jobs that you quit quickly could be a sign that you aren’t really committed to a job. For employers why would they want to train you up and pay you if you just quit three months in when they could hire someone else who had less jobs but worked for longer periods.
@@isexuallyidentifyasanapach4720 Based on what scientifically significant source have you determined that it was likely the case that they are not committed? Based on what metrics? Many stats can point to minorities as likely bad or untrustworthy if you think about a correlation, but there is a SIGNIFICANT difference between when a coorrelation justifies a prediction vs justifying an investigation to be sure.
Having jobs that you are even uncommited to can also be BECAUSE they are bad jobs. Jobs that have nothing to do with the job you are applying. Jobs that don't challenge you or are mismanaged. What? It can't be a coincidence that someone ran into that many shitty abusive bosses? Nevermind that times change with the economy. Nevermind constant scandals in our politically corrupt system. This measure of a candidate being used to determine their candidacy is a WILD leap of assumptions.
Having a username with the word "sex" in it could be a sign that you are a child sex offender. Should I proceed to notify the FBI that you've basically confessed?
@@youngidealist Jesus brother calm down, it's a youtube comment section lmao. I was not suggesting my reason was the end all be all to why bosses would not want to hire an employee, just a possible reason. It's not too farfetched if you imagine yourself in a employer's shoes.
Imagine yourself as an employer in a business and you have two interviewees who have practically the same qualifications as each other. One of them has worked a lot of jobs but quit them in only two-three months, while the other has worked maybe one or two but has worked in them for around a year or two. The first interviewee, while sure the reasons you stated are totally valid and reasonable, but stills shows some concern. After all how would you know that this employee isn't just going to quit the job in the same timeframe as he did as all the others. Why would you want to risk spending resources training him up and paying him when he will just quit anyways? Meanwhile the second candidate, while yes he has worked less jobs than the first one, because of his long job terms he seems to show a higher level of commitment than the previous interviewee. Making him seem more desirable.
Of course this is hypothetical, but it shows the mindset of an employer on how to decide which person to hire for the job.
@@isexuallyidentifyasanapach4720 i'm responding as if I were an employer for once in my life. I've sent so many applications that never get an interview, and then I see the other side finally and hear a bit of the fears and reasonings from HR and think, "I studied science for most of my life to work under the thumb of this level of stupid?" I'm passionate about it because it's been unfair every step of the way and to NOBODY'S advantage for it.
For now, its just words in a youtube comment, but just try to realise that if these ways that have been practiced for so long without real justification are not actually the optimal practices to get what you want, then you can be ready and adjust now or wait to be mowed over by someone like myself who figures it out and finally gets the capital to compete. We all benefit sooner together if employers just pull their heads from their asses now.
I don't know how to spell a lot of the author names mentioned, and may even spell them too poorly for Google to figure out who I mean. I don't suppose a sort of bibliography is possible? but I'm guessing you don't have time to review what you said and take notes.
Which ones? Most appeared as books on screen and some others are in the references.
@@unlearningeconomics9021 oh, my bad. I was doing the "RUclips as podcast" thing where I start the video then turn off the phone's screen and stick it in my pocket, so I didn't realize the books were on screen. I did look at the video description, but didn't see a references section, so I must have spaced on that, sorry.
Are you interested in debates? Would you debate someone on economics?
He already has. I'm pretty sure he debated econoboi.
@@fellinuxvi3541 I just saw that, I don't know why it is tagged as debate. But I ment if he is interested in engaging right wingers of different types. I just think he could be a different type of lefty that can do better then the more common ones
@@somerandompersonontheinter656 Yeah, that might be true.
I like Hans Hermann Hoppe. 🙋♂️🙋♂️🙋♂️
I'd love to hear your take on corporation taxes. From what I've read elsewhere, there's apparently a level of consensus from left and right wing economists that the best corporate tax rate is 0% and best replaced with progressive income, capital, and consumption taxation.
The answer, as always, is that it depends on implementation and other policies. As a country, you don't want to trigger capital flight, but if you have policies in place to prevent it, then corporate income tax can be fine. The returns to the stock market are high enough that stocks are still the best option even with significant corporate tax and the consumption savings trade-off is probably irrelevant to most of the capital in the US due to who holds wealth. Still might not be the best tax form though.
@@nateneligh3155 Thank you for your thoughts.
I mean theoretically in a world where the money earned by businesses goes through dividends to the Workers then some Welfare could be cut... Genius!
it's clear from thousands of year's of data, that taxes are a horrible form of income redistribution, on the fact that those who have the money have the means to hide from myriad types of tax schemes. that being said, "charity" also is a horrible form of income redistribution, since it denies the authority of those affected, in favor of those who have the money, which leads to the same class bullshit that's been going on since currency was invented. the best form of income redistribution, is one in which those who actually create value,( such as workers, mother's, students, and the disabled) actually control the administrative mechanisms of distribution. in other words, for the public to directly seize the means of administration.
15:52 wrong comment :scream:
I love your work and I am grateful. But why don't you read and cite women and queer contributors? THNX
Interesting answers as ever, but states can't produce socialism, only people can
1:05 A banality that should be a matter of course but is surprisingly not.
"Banning cars from city centers" is a great idea unless you're disabled and need a taxi to get places.
Even in a place with good public transport, some people can't walk to the bus stop 🤷
this is why in cities we have paratransit services which provide shared door-to-door transit for people with temporary or permanent disabilities. the one in my city is part of the local public transit organization
When we talk about banning cars we're not talking about taxis and ambulances. Christ's sake.
If you can't walk to the bus stop there should be a solid social safety network that ensures you have the help you need to get around, in whatever form that needs to take. Free motorized chairs, full time or part time assistance, etc.
This is not a good argument for keeping cities car focused.
You have a variety of options to make up for that. Personal rapid transit, guided busways, buses, and so on.
Oh, yes! I love getting unsolicited advice from people who have not been in my situation.
@TheWrekker This exists in my town. it is run privatel and sign-up requires you give consent to share any data with third party companies, which presumably includes the medical information you are also required to provide. Also, the service *starts* at 9am and can't be booked on the day - my GP opens at 9am and only takes same-day appointments. If I had signed up, I would have to plan journeys days in advance, they can't guarantee places for busy days, and I don't even get to pick the time. All this if I want to go to the shops 5 mins away from my house.
No other non-emergency transit options are provided.
@Bill S. Preston Esq. You see how you got pissed off at me for pointing out that "banning cars" negatively effects disabled people? That's how taxi drivers treat disabled people when they have to go into pedestrian-only areas, because it is extremely annoying, time-consuming, and frustrating for them :)
@Cheddar Kung Pow "Disabled people should just have friends" is a frankly bizarre suggestion, but also an ignorant one. Disabled people should not have to rely on the kindness of neighbours to live their life. It causes undue burden on both parties when we are required to rely on the unpaid labour and expenses (like fuel?) of others to exist. This exact issue leads to victimised people being unable to leave their houses because their family won't let them or abuses them for it.
Also, who the hell am I supposed to beg for a lift when none of my social network is supposed to have a car lmao. Don't think you thought that one through.
@Crypt Beast idk what to tell you dude. I can't will those services into existence and I literally said you can't necessarily walk to the bus stop. I can't get to the only useful one, because walking 5 minutes is too much.
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All of your valiant efforts trying to convince me that I pay way too much to get in a stranger's car if I want to go anywhere because I'm incapable of looking into alternatives. Have you considered shutting the fuck up with your ignorant advice that nobody asked for in future? ty xxx
economics aka chicken superstition in the main stream academia isn't a science so much an offshoot of financial cognitive dissonance so a social "science".