Most modern economists (ie; professional sophists) unfortunately don’t understand entrepreneurs, have never run a business, nor been in a position of significant responsibility in a business and therefore have the unfortunate audacity to perpetuate the moronic concept that businesses, business owners & capitalist merely exist to “take advantage of their customers”.
This is incredibly naive, short sighted and reinforces why modern economics is completely OUT OF TOUCH with reality.
Entrepreneurs are like the stems cells of the economic body. They are crucial, whereas these economists (the modern & keynesian types who don’t understand logical consistency or sound philosophies) are useless leeches who try to apply mathematical models to that which you cannot model.
In this video I use the example of a forest, and lumber to think about what capital & capitalism actually means in the context of the entrepreneur and the incentives in a FREE MARKET who’s cornerstone is PRIVATE property rights
When it’s your asset, you don’t go and rip it all up unless you’re a moron, who will wind up ruining himself, and that is the self correcting mechanism that a free market organically includes, and which moron economists think they have to somehow dictate or decree.
Pubic = no idea how much is needed, if it’s even needed. Blind & stupid.
Public + Private = raping & piligaing
Private = YOU GIVE A SHIT. And if you do not, you ruin yourself.
Ta-daaaaaa.
You CANNOT have capitalism with public property or central planning.
THAT is why it’s failed so far.
When you mix up the incentives - you screw it all up. It devolves into madness. The cancer that is collectivism will eat up the organic structure that is capitalism.
You need a mechanism to take the power away from the state. And this is why #BitcoinFixesThis.
Thanks for listening guys.
Remember to subscribe, share, and follow me on twitter & medium @AleksSvetski