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The Most Important Economic Schools of Thought | Economics Explained

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Your basic premises are bullshit
Comment from : @jtmediaholdings7877

FYI That was a needle 😂
Comment from : @DaxXx988

Why not include Marxian? It's obviously important Right wing bias?
Comment from : @jackkennedy98

Great vídeo, as usual I had to integrate a lot of economics pragmactic understanding and tools due to my carreer choices, without having any structured formal training in the field It's awesome to fill in the gaps with those videos
Comment from : @anthonyandrade5851

Anyone who thinks printing money creates wealth, needs to be ignored
Comment from : @garysmokesmeat

Krugman also said —brbrBy 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine'sbrbrYeah I'll take Austrian Economics thanks
Comment from : @davef5916

i think one of the reason economist can be in conflict is also because glory is something that cannot be shared, there is a maximum of glory in the world (it"s not the same for money for example) but economists wants power and glory, for that they need to be different from others, that"s one of the reason you always have a rivalry between economic schools of thought
Comment from : @9malEx9

I can't believe anyone with basic understanding of basic economics could spare a shred of respect for keynes or thieves posing as economists like Paul Krugman, who is always on the wrong side of any economic argument
Comment from : @MichaelWojtaluk

My taxes were lowered? When?
Comment from : @touge242

I’m just here to point out that Keynes wasn’t an economist He was just a NAZI sympathizer trying to justify socialism
Comment from : @jameswooten3212

The problem pf economics is treated like science when it is in fact philosophy 😅brThat is why we are always fked
Comment from : @CaFe73100

Yes, there are solutions for every problem Resourses are limitless if we look for them
Comment from : @antonius_006

🧢
Comment from : @Mossy_FieldStone

Did you just quote Paul Krugman about Austrian economics 😂😂😂 and what do you mean Austrian did away with all the math and is just conjecture? I suppose you left keynes for last so you could talk about how great he is but not gonna watch it as you did a fine hatchet job on Austrian
Comment from : @HealYourWorldview

Well, despite what economists think, economy is not an exact science
Comment from : @VolkerGoller

first time wealth was created en mass? nope! Many civilizations did that to a degree, like Rome with it's pottery mass production factories The difference was now steel and our ability to make pretty much anything en mass
Comment from : @AndrewStamelakis

I think how Austrian school isn’t based off exact maths highlights an important point in that you can’t be certain what the consumer wants and that’s fine, trying to be precise with it ends up with a load of rubbish based on the symptom not the cause, for example fiscal policies are used to react to a loss of trust In contracts, all of this is caused because of an over trust to continuous growth
Comment from : @rhysrail

My biggest problem with these economy school of thoughts as well as economists in general is that they treat everyone’s personal stuff as an overall number when really the biggest factor in an economy is fairness, in fact I’d rather live in a poor fair economy than be rich in a unfair one
Comment from : @rhysrail

You should make a full video talking about Keynesian economics
Comment from : @sebbvell3426

Austrian economics is happening in real time in Argentina
Comment from : @1514max

Milton Friedman, and reality, destroyed the Keynsian theory Much like today's idiocy, MMT
Comment from : @branchingoutnurseries4403

Look! It is a alienation page What a poverty!
Comment from : @eduardogomes5992

interesting
Comment from : @Patriotman54

Nah taxation is theft viva la libertad carajo ✊😅
Comment from : @sohrabroozbahani4700

5:19 "mercantalism", really?
Comment from : @entropica

The fact that you've left out Marx just confirm a long held suspicion that this channel is just an outlet for right wing ideology than educational in any way You don't have to agree with Marxism but it has been one of the main schools of thought which the others were influenced by and influenced If you were serious about explaining economics you wouldn't conceal this
Comment from : @gerardnfarrell

That rap battle was great, what are you talking about! 😂😂😂
Comment from : @M0rmagil

Because economy is the study (not science) of actions and studies ultimately derive in advice that isn't necesarily perceived as trust worthy since everyone has his own interest
Comment from : @MateoMartínezGarcía-f2f

I find it interesting that Paul Krugman, who has NEVER once made a correct call on economics in his commentary, is taken seriously as an economist This is the man who claimed that the Internet would have less economic effects than the fax machine along with other idiotic takes over his 25 years writing for the New York Times
Comment from : @RaderizDorret

My economics professor forced me to watch that rap video
Comment from : @AlRufo

Keynesian is the worst
Comment from : @zakugodofwar1005

Keynes theories destroyed Argentina
Comment from : @tomaslucas2741

Resources are not finite
Comment from : @photonsword

Keynesian: $35 trillion in debt Thanks Lord Keynes
Comment from : @billbissenas2973

Krugman is an idiot He needs to return his Nobel Prize
Comment from : @billbissenas2973

you did not mention monetarism and the Chicago Scool
Comment from : @ciroguerra-lara6747

Austrian Econ 🙌🙌
Comment from : @yofavorite_dude

Why don't you talk about the monetarist school of economics? It looks a little biassed
Comment from : @franciscogana667

The Austrian school is the best
Comment from : @crazando

The only time economics is NOT a zero sum game is when you ignore the social and environmental costs
Comment from : @BenState

The problem with Keynesian is that government never pull back in good timesbrNow I have to go watch a rap battle AGAIN!
Comment from : @benchristenson2280

Keynesians generally are preferred by politicians and thus will always have more funding and publicitybrbrWhat politician can resist having a permission slip for spending money without responsibility ?
Comment from : @dwwolf4636

The problem with problems is that solving is required - apparently brbrThe case of resources running out has one of the easier solutions - raise prices! Not the producers', but the consumers' perceived value drives volumes - which is why, legally, the producer boffers/b the product and the consumer baccepts/b itbrbrOur propensity to seek an Aristotelian 'balance' in all things, coupled with creativity and inventiveness, will more likely be found in 'new' and/or 'improved' products and not in empty shelves It's after all, not the shovel one buys but the hole it digs
Comment from : @carrstone01

This vedio created my interest to the subject I used to thought economics is boring but not anymore😃
Comment from : @Reva-z1z

Economics
Comment from : @JosephShephard-v1m

Banking Usury is the great unmentionable in Economics If you want a real lesson in economics, read The Ragged Trousered Philanthropists by Robert Tressell
Comment from : @jozefserf2024

Have you made any videos about long term effects of moving off the gold standard Because sometimes I can't help but think that economics as we've known it for centuries has not existed since 1972 with currency no longer being backed by gold or silver
Comment from : @martysmaps7411

The Austrian school of economics might be one of the most misrepresented and underrepresented schools of thought that have actually enhanced our collective understandingbrbrBut when I come here, I'm fine with settling for the Australian school of economics 😂😂😂😂
Comment from : @maverick9708

A share of the produce of their own labor
Comment from : @lucasm4299

It seems pretty clear Keynes's business cycle theory was wrong, right? It seems like it was essentially just propaganda to justify why the United States should seize the power to institute a fiat currency while it dominated the world economy after World War I, so Keynes buttered up people's minds to believing the government needed to intervene in the economy so they had a way to cover up what was essentially modern currency debasement However, going off the assumption geopolitics matters to economics, now that we are returning to a multipolar world order, Keynes's propaganda theory about business cycles is going to go from politically correct back to simply incorrect because inflation will continue to punish people who believe in it until they finally admit it's wrong, which i suspect is going to happen in mass after the next major recession
Comment from : @crombee8947

TALK TO THE INVISIBLE HAND
Comment from : @adamSmith_1723

Austrian is the most compatible with the idea that the individual is sovereign
Comment from : @FrydClips

You missed the austrian business cycle theory!
Comment from : @ben_edes

You speak like you are ready to drownbrYou got to clear your throat
Comment from : @ΔήμοςΜπακιρτζίδης-β1φ

Was that pen or a pin?! Never tell with you Ozzies 😂
Comment from : @druharper

People should the Theory of Moral Sentiment before the Wealth of Nations
Comment from : @pabloa2228

Asian economics is basically why the world sucks today
Comment from : @hectornonayurbusiness2631

No Marx?
Comment from : @nelsoncastro7281

Modern Keynsian economics holds that debt is money Leading to a fiat currency system that will eventually collapse and be replaced by another fiat currency system And so the cycle goes on This suits the Central Banks who always profit and gives them control over governments and nation states When applied to a global economy, things start to take on a different view and governance becomes more totalitarian
Comment from : @phildurling7185

tl;dr socialism evil capitalism good (unless corrupted by socialists) QED
Comment from : @uncivilizedengr4873

Thanks for this introduction Robert Zubrin said the biggest problem the human race faces is bad ideas brbrI would agree with him To give an example from Immanuel Kant that “division of labour” is most efficient, and most politicians would rush off and create labour divisions ad infinitum like the good little case advocates they are Of course they fail to take into account the negative side - the creation of dependencies Look at how well that turned out for Germany! Look how Tesla understood this vulnerability and decided to make their own sub components rather than risk being sanctioned by their rivals brbrThe point is that every endeavour should be fully examined PESTEL-wise, and since the majority of politicians are lawyers, it will seldom happen Enter Trump
Comment from : @jeffharmed1616

An exceptional class on economy, at least from my layman perspective Thank you
Comment from : @tiagoinka

Modern monetary theory doesn’t work, nor does socialism Regulated capitalism works best
Comment from : @familybialousow

Just listened to the President of Argentina‘s explanation of how he turned around his economy with an Austrian economics school of thought Fascinating listen and I would like for you to please make a video on his comments and the available statistics (currently a business administration undergrad student interested in getting my masters in business)
Comment from : @sabas7549

Economics training/degrees should require a minor/supplement in history
Comment from : @Rockyzach88

I disagree that any arbitrary researcher shouldn't "be aligned with any particular line of thinking" While I'm not arguing that researchers shouldn't have well rounded knowledge and insight across the board, a good scientific institution should be able to harness strong ideas, facilitate sufficient interaction and communication among strong ideas, and finally allow for resolution when it exists Not every "primitive" has to embody the whole institution but should play by its rules when requiredbrbrOf course you can disagree with the primitives and boundaries within the institution
Comment from : @Rockyzach88

It's all just capitalism How about some real economic theories?
Comment from : @coreyrachar9694

Fantastic video, yet again Keep up the great work👍
Comment from : @austinahne

So much blabla
Comment from : @akkinecable

Your premise is wrong Human consumption is not "limitless" Limits are imposed naturally by time, resource availability, the laws of physics, and human nature No one eats a million donuts, no one wants a thousand Ferrraris, and although there is a wide variance in human desires, we all have some conception of what is "enough" that is to say a "limit" to our desires
Comment from : @dennispresiloski3964

There’s a very good reason why hard science says “you can’t sit with us!” to the social sciences brRemember, hard science is repeatable, measurable, quantifiable brSoft science is based on empirical data, data that can, and does, change brbrI think we could all benefit from drawing a more firm line between hard science and the social sciences
Comment from : @Raerae705

How does a kettle break down?
Comment from : @jaredlangley6924

“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design” Friedrich Hayek
Comment from : @raveenperera9027

"Consumers" sounds like an incredibly rude term
Comment from : @michaelmorford3932

It would be nice to hear an analysis of economics and economic theory that includes allocative efficiency as well as productive efficiency We seem to have lost sight of economic's goal of improving the lives of all people in a country
Comment from : @christineyoung8345

Ah the old we are all dead in the long run BS Well the long run is here guys Congratulations, you killed humanity
Comment from : @luk2480

marxian economics: those who know 💀🔥📉🔥 ohioan economics
Comment from : @vrhsr

2:06 jajajajajaja
Comment from : @eral6209

All are stupid economists, Not even one economist in this clip said a word about "Environment" I don't think they are smarter than I am
Comment from : @drmoezawaung

No Marxist economics? That is a fairly important branch of economics that is largely ignored today
Comment from : @Surrealcookie

Fixing the fear of disruption is now more important than ever
Comment from : @789overdrive

FA Hayek could put John Maynard Keynes to shame😂
Comment from : @Chris-voluntaryist-freedom

Governments are no measure of economic success
Comment from : @Chris-voluntaryist-freedom

I threw up when you announced John Maynard Keynes, as some sort of solution If it can’t be measured, it’s not a science because we can’t control it and if we can’t control it, it’s not science great logic
Comment from : @Chris-voluntaryist-freedom

During a bear market, the headlines will focus on negative news, whether it's declining economic growth, geopolitical upheaval, cultural and legal turmoil, or some combination of all three I listened to a podcast of someone that grew his reserve from $120k to almost $460k during this Red season, can you share tips on how to make such aggressive proceeds in short periods?
Comment from : @Agathawayne0