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Title: What is the Free Market?
Added: Apr 17, 2009
Author: shanedk
Duration: 10:56
Description:
I really didn't think I'd have to go THIS basic: what the free market is, the idea behind it, and how it works.Thunderf00t video I'm responding to: http://www.youtube.com/watch?v=HWhTJ1T6TsIThe effect of Prohibition: http://eh.net/encyclopedia/article/miron.prohibition.alcoholYoung women stopped from braiding hair in:Illinois http://www.chicagoreader.com/features/stories/braids/ Arkansas http://www.nwanews.com/adg/News/210776/ Pennsylvania http://www.foxnews.com/story/0,2933,214547,00.html Mississippi http://www.thedmonline.com/2.3519/mississippi-lawmakers-asked-to-deregulate-hair-braiding-1.121305 Washington http://www.seattlepi.com/business/185085_hairlicense06.htmlMinimum Wages and Employment: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=961374Minimum Wage Effects in the Post-welfare Reform Era http://www.epionline.org/study_detail.cfm?sid=103Minimum Wage Laws: Economics versus Ideology http://mises.org/story/2596
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Channel: Education
Tags: free market profit people economic libertarian anarcho-capitalism property rights john locke george mason slavery prohibition drugs minimum wage licensing dogma
free market profit people economic libertarian anarcho-capitalism property rights john locke george mason slavery prohibition drugs minimum wage licensing dogma
Youtube Comments: 4894
shanedk Says:
May 30, 2012 - I just don't suffer liars easily. I don't understand how any honest person could.
DrSpooglemon Says:
May 30, 2012 - And that makes regulation of any kind necessarily a bad thing, does it? Rather than pushing for better regulation you want no regulations at all? What about minimum wage? What about working time regulations? The Libertarian party in the UK wants to see a flat rate of tax of 15%. What will that be like for those earning £2 an hour because minimum wage has been done away with? This kind of"freedom" is fine for those adept at making money but not for everyone.
Tnu1138 Says:
May 30, 2012 - still it may help to look at your style and refine it a bit. your issue seem to be tbe that at times you tend to get a bit fired up which hurts your arguments due to making you look a bit foolish to your opponents and sometimes yoru viewers. mainly i'd avoid typing in all caps as well the manor in which you make accusations of lies is a bit unrefined. in these cases you'll want to actually refer to instances in hwich you disproved them instead of just calling them out based on the earlier.
shanedk Says:
May 30, 2012 - That only results in an infinite chain of doing it over and over again. Calling them out on what they're doing, on the other hand, causes them to ramp it up and eventually their true colors come out.
Ivpiv Says:
May 30, 2012 - I like that people keep saying that minimum wage laws keeps people out of jobs.. I really do..I mean if the people owning the stores or whatever where the jobs are cant afford a salary that people can live on then it doesnt matter if there is a minimum wage law or not..If there werent desperat people would simply take the jobs and still live in poverty i just dont see how it helps to remove minimum wage laws.. The only thing it does is keep corporations from offering slave wages..
Ivpiv Says:
May 30, 2012 - IF the choice is between starving and working my ass off and starving.. I would take starving.. I think it in itself would be suffering enough.
shanedk Says:
May 30, 2012 - "I like that people keep saying that minimum wage laws keeps people out of jobs.. I really do.."Because that's what the overwhelming evidence says."...then it doesnt matter if there is a minimum wage law or not."Yes, it does, because people only have these jobs temporarily, for a year or so, before their experience allows them to demand higher wages. And most of them are students and people entering the workforce for the first time.
shanedk Says:
May 30, 2012 - But that is NEVER the choice. I love how you Cultists have to go to idiotic extremes to make your point. Whereas we have logic and data.
vspqbd Says:
May 30, 2012 - 1. And nothing of value was lost to this channel today.2. Good riddance to bad rubbish.
vspqbd Says:
May 30, 2012 - So the minimum wage also acts as a vast barrier to entry for people wanting to work to a better life.Sounds like a rather elitist policy imho.
vspqbd Says:
May 30, 2012 - Like with DeepRainForest nonstop defending her quote mine like it was delivered from on-high, or that Widdip dude making a video calling you a racist; etc, etc etc
Limejello10512 Says:
May 30, 2012 - No I meant to say that you're referring to the american market. it is the current laws that make it work out that way right? So, It's not the act of being a corporation that is wrong but the laws set up around it right? If you were to remove those and allow corporations to run in a free market then what would the problem be? I've been led to believe that corporations have been taxed a lot harder but the ability to buy and sell stock makes up for this. I honestly am asking what I'm missing.
shanedk Says:
May 30, 2012 - "So, It's not the act of being a corporation that is wrong but the laws set up around it right?"Being a corporation MEANS having such laws set up around it. Without government, there would be no corporations, only businesses."If you were to remove those and allow corporations to run in a free market then what would the problem be?"Well, they wouldn't be corporations, by definition.
erelpc Says:
May 30, 2012 - then those businesses would have to insure themselves.
shanedk Says:
May 30, 2012 - Yes, and what's wrong with that? At least it's not being done at the point of a gun. And at least the insurers have accountability and the incentive to make sure it actually WORKS.
Limejello10512 Says:
May 30, 2012 - Yeah see that's what I think I disagree with. Or at least maybe that's a technicality. That's why I gave the extreme anarchocapitalist example. Let's we we con't call them corporations then maybe they'd be public trading companies? I think I see your point though you dislike the fact that they need the government's permission to exist right? Or is there more? Again don't misunderstand me I really value your opinion. Let me ask this if you were to fix corporations what would you do?
shanedk Says:
May 30, 2012 - I think the closest concept would be "trust." And of course such trusts exist today.
erelpc Says:
May 30, 2012 - Exactly. I agree.
Limejello10512 Says:
May 30, 2012 - Okay fine so then it's a trust. But given a lack of legal acknowledgment you would still be for trading any variety of public stock on a market then right? Please that was not a rhetorical question how should stock be traded if there is no legal acknowledgment; and I'm not saying there should be. I consider myself to be a libertarian just like you. I think the less control the better. So please don't mistake me for defending big govt. I'm just asking your ideal stock utopia what is it?
Limejello10512 Says:
May 30, 2012 - Also I want to say if I'm kinda of bugging you for too long with this same question at this point I'm really sorry. I was just kinda surprised and intrigued by what you said and I want to know how you'd fix the system if it were up to you cause you honestly seem like the guy to do it. So thanks for putting up with me.
shanedk Says:
May 30, 2012 - "But given a lack of legal acknowledgment you would still be for trading any variety of public stock on a market then right?"You would be trading on whatever exchange you listed on.
Tnu1138 Says:
May 30, 2012 - OK reading DeepRainforest gets painful very quickly and i'm a tribalist who doesn't have much if any faith in civilization or "society" mostly because it's used as an excuse to oppress the individual in favor of the collective.
johnrainrules Says:
May 30, 2012 - "I like that people keep saying that minimum wage laws keeps people out of jobs.. I really do.."Minimum wage laws are pointless given the devaluing of the currency. If you care about the poor and even the middle class you wouldn't let them get sucked dry by the most unfair tax of all.
johnrainrules Says:
May 30, 2012 - "The only thing it does is keep corporations from offering slave wages.."I'm not sure the word slavery means what you think it does.












shanedk Says:
May 30, 2012 - I deleted the last one, but I let the rest of them stand.