The economist who coined the term "quantitative easing," Richard Werner, now says central banks are too powerful and irresponsible and that they're the ones actually causing inflation. Of course, some of us already knew that, but it's nice to see the professionals finally concur. This hilarious explanation of quantitative easing by two straight-talking cartoon-characters … [Read more...]
Thanksgiving: a Celebration of Property Rights?!
Journalist John Stossel explains how Thanksgiving would have been (and nearly was) "Starvation Day," but for a change in policy from communal planting to...private property. [4 min/ Anti-socialism, Econ 101] Reason tells the the true story of how the introduction of property rights by Governor Bradford saved the Pilgrims. [3 min/ Anti-socialism, Econ 101] The … [Read more...]
Great Moments In Unintended Consequences
Reason has released a terrific series of short films entitled Great Moments in Unintended Consequences. These relate examples of government failure, where seemingly well-intended laws have negative effects that are not predicted. They are also examples of what economist Friedrich Hayek called "the knowledge problem," that is, no central authority has complete knowledge of the … [Read more...]
Price Controls Illustrated In Nine Short Films
Per Townhall, "With Americans nationwide facing pain at the pump, Democrats next week will vote on legislation giving the Biden administration power to bar oil companies from setting 'unconscionably excessive' or exploitative gas and home energy prices." So once again, the same failed policy of price controls must be imposed on Americans so politicians can act like they're … [Read more...]
Yes Minister: The Five Standard Excuses
In this clip from the hit British TV series Yes Minister, one official explains to another how to evade blame for failure through the use of five standard excuses. The running theme of the series is that government bureaucracy operates in its own interest. Yes Minister was cited in the academic journal Economic Affairs as useful in teaching public choice economics, which … [Read more...]
Corporate Welfare: Where’s The Outrage? | Documentary
Crony capitalism is put on the hot seat in this critical examination of tax exemptions, subsidies, government regulations, and bailouts -- all the tools big business routinely uses to screw over its smaller competitors. [ Corporate Welfare: Where's the Outrage? credits: Dir: Maureen Castle Tusty/ 57 min/ Documentary/ Econ 101, Anti-Regulation/ 2021] Note: the full … [Read more...]
They Say It Can’t Be Done | Documentary
Entrepreneurs offering a wealth of technological advancement say the main obstacle to such progress isn't capital or technological limitations but heavy-handed -- and often wrong-headed -- government regulation. [ They Say It Can't Be Done credits: Dir: Michael Ozias/ Gregory McNeal/ 81 min/ Documentary/ Anti-Regulation, Econ 101/ 2019] External Reviews "A fascinating new … [Read more...]
Walter Williams: Suffer No Fools
This documentary profile of libertarian economist Walter Williams outlines his positions on government's effect on the black community, and offers a brief biography of his rise from child of the Philadelphia housing projects to noted author and commentator. [ Walter Williams: Suffer No Fools credits: Dir: Anthony Machi/ Larry Elder, Douglas H. Ginsburg/ 56 min/ Documentary/ … [Read more...]
Poverty, Inc. | Film Review
WINNER: ANTHEM FILM FESTIVAL, GRAND PRIZE WINNER: TEMPLETON FREEDOM AWARD Poverty Inc. examines the unintended consequences of efforts by the West to alleviate poverty in less-developed countries, suggesting that free markets would do more good than charity. [ Dir: Michael Matheson Miller/ 94 min/ Documentary/ Econ 101, Pro-capitalism/ 2014] "Poverty, Inc. is a very … [Read more...]
Trailblazers: The New Zealand Story (2017)
The story of New Zealand's fall and rise, as the country -- once bankrupted by decades of socialism -- fought its way back to prosperity through radical free market reforms. [ Trailblazers: The New Zealand Story credits: Dir: James Tusty & Maureen Castle Tusty/ Narrator: Johan Norberg/ 60 min/ Documentary/ Econ 101, Anti-Socialism, Pro-Capitalism] "Virtually all … [Read more...]