Yaron Brook discusses the economics of the Great Depression, with an explanation of the broken window fallacy, a common error in economics. This is excerpted from the Q&A at a lecture delivered by Dr. Brook on December 1, 2011, in Chicago, Illinois, titled “Why Bad Economics Won’t Go Away.”
Why is it that people don’t seem to learn from experience? It is clear that our existing Keynesian economic policies have failed miserably. We can compare controlled economies with those less controlled, and compare more regulated sectors of our own economy with those sectors that have fewer regulations. Logic and history are on the side of those economists who have advocated for free markets. Why do those who advocate sound economic policies continue to fail in substantially rolling back government intervention in the economy? It would seem so easy.
In this talk, delivered on December 1, 2011, at Hyatt Regency Hotel in Chicago, Yaron Brook, executive director of the Ayn Rand Institute, identifies the reasons people find the free-market idea so difficult to accept and why statist policies seem to make so much sense to them. He identifies why we have been losing this intellectual battle, and provides real solutions on how to make significant headway toward ending these bad economic policies, allowing us to achieve more freedom and prosperity.
In this talk, John David Lewis shows that government medicine treats doctors as cogs in a giant machine, run from Washington, as if treating patients required no independent thought or action. Twenty-eight states have filed suit against Obamacare, claiming it is unconstitutional. But it is much worse than that. It is a moral assault on a free people, and an attack on human life itself. Dr. Lewis has a unique perspective on this issue, both as an advocate for individual rights and as a cancer patient. Don’t miss this hard-hitting lecture on the deepest evil of government medicine. This talk was recorded in Chicago on May 24, 2011, as part of the ARC Speaker Series.
John Allison, who as chairman and CEO made BB&T Corporation the 10th largest financial institution headquartered in the United States, attributes the success of BB&T to the concept of Principled Leadership, based on an uncompromising commitment to fundamental values. In this talk, he explains how Ayn Rand’s ethical system can be used practically to create a competitive advantage in any organization. This talk was delivered in San Diego, California, on April 4, 2011, as part of the ARC Speaker Series.
Yaron Brook offers a preview of his upcoming talk, titled “In Defense of Finance.” Dr. Brook will deliver this talk on February 15, 2011, at the Hyatt Regency Hotel in Chicago. [more information]
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