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Caller: How can we Educate People on the Economy?

Charles Miami Florida aim Charles what’s
on your mind hi Tom and can you hear me OK just fine yeah is my voice a little
faint on your end create people ask me that a lot a bit but but but a but I can hear you okay out I miss going
to make a suggestion I’m on what are your shows I think it
was a conversation is great my tits over a year ago your conversion with someone and they
can accommodate came up that what is the purpose other economy and I i thought was such a great question
that like we all should answer you know are the presidential candidates at the
time it would have been nice if they answer
that and I i want to suggest to you that perhaps you can ask people special your destiny get them on what
today is vision per and you can watch purpose
every candidate and what today incision a society would look like as a consequence observes issues him how
would the society functions as a result out the economic perspective that they have or
even the policy objectives that they have and I think think you know it could well itself week I think so few of us really
understand economics really well and I just finished the course by Thomas
so well who’s a pretty right-winger but it was very good because I open my
eyes up about supply and demand and how society really functions and how society can
function and I was hoping that at maybe you could get sued
eyelashes people to put them up against the wall both left and right what with happen as a consequence both a pure objected to the things that
you’re advocating for right well you know the probably the
first really famous economist to address that question when
economics was just first emerging as a science um was was Adam Smith and it wasn’t his book The Wealth of Nations which everybody
always quotes that asked that question why do you have
an economy but it was his book a theory of moral sentiments and it which is the less famous and
frankly far more important book that Adam Smith Road and was published
in the 1770s and in a theory of moral sentiments Adam
Smith comes right out and asks that question
you know what what is the purpose of an economy and then answers it essentially sane the
reason now I’m wildly paraphrasing I’m taking
it like an chapters in the book and turning them into sons is here but but no it now since what he says and
then David Ricardo expanded the someone 1817 in his on labor nonprofits & and some of his
writings but basically what they were saying was
that we create an economy we have we create a government to provide for the common good the
general welfare you know that those phrases that are in the preamble to the
Constitution the government and creates an economy by providing a currency that allows the
economy to work in by providing basic rules within which an economy has to
work and the reason why the government creates the economy is the same reason why we created the
government the first place and that is for the benefit of the people of the populace and so we if if we were to ask that simple
question and you charles really nailed it obj every piece of legislation that has
economic impact which is almost every piece of legislation what impact will this legislation have
on average working people via its impact on
the economy way if we were to start asking that
question we would start passing some very very very different kinds
legislation than we have right now but instead I think that there’s our
abroad belief among americans because they don’t have
any training in economics that the purpose of an economy is so
that people can get rich and that’s not the purpose of an economy
a purpose when economy is so that the largest number people in the in the it through their own
efforts you know with appropriate incentives can produce the highest quality have
live of life both for themselves and for society as a
whole and is anything that I just said
inconsistent with what you learned when he studied economics no aliases as and I would take it even further because
I think we need to have the in-depth conversations an economy a society is gonna result as a consequence of an economy and Yuki
are you going to have houses in City and and the the level love I’m was a certain chicken egg
but also see an economy where come about as a result of a society but yes okay and and I I actually would vote for an economy you
know creates a society but yes it’s if you had we have had not
allowed government control for a society to create economy but if it for any candidate who
creates a so no no you don’t think he even got you’ve got twelve us enough in a family or tribe and and we we have to decide you know we have different skills we have to
decide how we’re gonna trade goods and how we’re gonna trade skills you go back and look at like the City
chorale from six thousand years ago they the other if there is one tried
that was rich with sardines in there was no the tribe the group cotton and was making nets the 13 people needed
the Nats the net making people needed the sardines I’ve been in those at the pyramids that
they built down there I wrote about my book threshold arm and
seen six thousand year old currency which was just knots on a string it was just a way and
accounting form so the Society’s created an economy okay end and that’s I you know again
chicken and yes button think the big thing would be to
get people to shake it out and talk about the
consequences South Park of our activities and how they impact almost and I you know it’s I
think we as a people americans are willfully and educate when
it comes to economics in I think that would be a great people say
it was actually realize what the impact is from these policies
are on the economy and how it affects them personally right
then they might step back and say you know well I need to be inside last year I need to be able to discover
many doubt in the society politically because
everything there till it impacting people and certain people
are taking advantage of this in eighteen a lot more wealth than this just fair
and this is something republicans understand they understand that at the
end of the day it’s all about the money back to charles my my recent my reason
for calling you is here to make that they happily barred to keep educate people on your learned a
few you know having used to do it Charles you you you provoked me thank
you to want to raise this question more
frequently and and I will start doing so thank you for
the reminder who’s been awhile since we did a good show on map on that issue and I do
need in particular my right wing gaster bring it on you’re listening to but Tom
Hartman program call 866 987 thon Charles S one the best questions in the
day to question we need to constantly be asked why do we have an economy why we sustain
and support the

Reynold King

5 Replies to “Caller: How can we Educate People on the Economy?”

  1. The first thing you do is understand that Austrian economics can not and will not ever explain anything that happens in real life.

  2. maximize shareholders profits is what ruined this country.  you see Chinese leadership worrying over that?  No, they want an economy to help the people.  

  3. The right wing obsession with supply and demand is the reason their version of economics is so fucked. The MAJORITY of the economy is NOT run by supply and demand (just because a HYPOTHESES is plausable does NOT make it true) and its NOT how most managers run their busness (stand back and let libertarian fuckwit heads explode). And Thom's idea that modern capitalism came out of swapping say eggs for shoes is AGAIN a libertarian fantasy. The economy was both MADE and is sustained by GOVERNMENT. The king imposed taxes for war. The people were FORCED to aquire currency, to pay their taxes and the exchange of this currency was the tinder box that started capitalism.

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