Title | : | The Most Important Economic Schools of Thought | Economics Explained |
Lasting | : | 26.05 |
Date of publication | : | |
Views | : | 1 jt |
|
Krugman has consistently made disproven predictions again and again Kenyes fake economic theory has been the excuse for Democrats to continually print and borrow the United States into oblivion I have to pay massive amounts of money for food thanks to total scumbags like Keynes and Krugman Comment from : Big Yehudah |
|
Informative video which is unfortunately packed with laods of capitalist propaganda Would’ve wished for a more neutral approach or for an argumentative essay instead Comment from : Nana Teddy |
|
Thanks! Comment from : Stagemaker |
|
The wealth of nations book will make You rich so important Comment from : Rotary Stone |
|
Kanes is an idiotbr The government is picking the winners and losers The winners get subsidies and loose the impidice to innovate and compete in a free market They lose their technical expertise and this culminates in a corporate welfare state Comment from : brentsrx7 |
|
economics is not a science, it's a religion with equations Comment from : Ricardo Morais |
|
Okay, now do a video on how the "Keynesian" Covid spending worked out Comment from : Kevin Hotaling |
|
Adam Smith is, without no doubt, the worst quoted philosopher of all times Comment from : Manuel Montoya |
|
Great video! Comment from : Lucas Camargo |
|
narrow explanation about economics made by a brit Comment from : TheVoiceofReason |
|
Missing an important ismbr😫 Comment from : Kris Hammond |
|
I really want to understand how Finance affects the world, but I really don´t know where to start my research, can someone help me? Comment from : Thiago Conta pessoal |
|
Excellent video One observation: JM Keynes deserves full credit for reintroducing it in the 20th century, but note that counter-cyclic governmental intervention economic theory goes back thousands of years Comment from : Dan Konigsbach |
|
Much like supporters of different economic theory, different classes of professionals will discredit each other because they're defined by difference It is better for everyone when we specialize in profession, but there is really no need to hate on different professions with their own complexities, even if you cant see them My career path is in engineering, but I still try to learn as much as I can of different fields I appreciate the emphasis of the empirical side of economics; at lot more of it makes sense when considering the workarounds of studying people Comment from : buddeyyy |
|
Very good compilation! Comment from : In fact |
|
Frankfurt school Comment from : blazingverde |
|
I like economics because, although it covers controversial subjects, it does so in a dispassionate scientific matter I took several economics courses Comment from : Stephen Powsinger |
|
Try to get Keynesians and Austrians to agree on what inflation is: Keynesian economics believes that inflation is "meh rising prises tho"; Austrian economics knows it's the expansion of the money supply, thus resulting in rising prises Comment from : Christopher Wood |
|
“Governments forget to tax more during the good times”brbr😂😂👍🏻 Comment from : sheldoninst |
|
As a physicist and an economist I can assure you that economics/finance is a pseudo-science, not a hard science like physics Both run on statistics and probabilities but one works under almost all conditions in almost all places, whereas the other does not In physics there are fundamental laws that work everywhere except at the most extremes - ie at the very smallest scales (quantum mechanics) and the very largest (supermassive black holes) We still have lots of work to do in physics to a theory of everything but our theories are accurate to 10 or more decimal places There are no such fundamental laws in economics/finance and the laws that do exist are temporal and spatial Comment from : Pax |
|
You left out the advent of advertising And industry invented to convince people to buy things that they don't need The creation of "desire" for products business can produce, to enrich the corporate state Offshorinng and end of manufacturing turned into an economy that is overly financialized Comment from : Roberta |
|
You should have added Marx because despite many claims to the contrary he did contribute to modern economics, especially with the realization that human decisions have large effects on economy Also why did you imply socialism wants "equal" compensation that is simply not true! It just wants equalitable represention Comment from : J F |
|
the number one school of economics in the US is Milton Freidmanism, so how does that fit in? Comment from : albert c |
|
The criticism levied at the Austrians that their theories are not “falsifiable” and that the Austrian school is more like philosophy is correct, but not really a criticism No economic theory is falsifiable because you can’t isolate variables properly in an economy Even if you pass a policy to test a theory, you can’t really isolate it’s effects That’s my opinion, at least, as someone with a background in “harder” science Comment from : AmokBR |
|
Yea well if the question was only how to use our resources more efficiently from the matematical point of view, economics would be a very simple science, but when you add the human factor, any science becomes very complicated Comment from : Gecko o |
|
That is not mercantilism Comment from : ibne arabi |
|
Excellent comparison and contrast Thanks Comment from : Anthony Emmons |
|
I'm a Georgist and a New Institutionalist, and I draw influence from both the mainstream synthesis and heterodox schools Comment from : ElGringoCastellano |
|
There are about 10 important schools/trends/traditions The ones presented are not most, but dominant Comment from : Minh Ng |
|
Austrian is classical Comment from : innosanto |
|
You should include anthropologists like David graeber anthropologists know lots about economics Comment from : Hulagu |
|
Kinda wild to see someone talk about the most important economic schools of thought and just ignore Marx Comment from : David Ryan |
|
Hey my feelings really do matter Comment from : DM_sliderrr |
|
Can you explain where the Chicago School of Economics stands here, and particularly Milton Fridman? Comment from : rayan |
|
Of course Marxism is left out despite spreading the fastest and requiring the entire American military industrial complex and CIA to temporarily suppress… Comment from : Erik Anderson |
|
Austrian economics; give everything to the rich; maybe if they have something left over the rest of us can have some And this theory requires no proof or experiments Comment from : Roger Kinnard |
|
This is just a terrible and trivial cartoonish account of history of economic thought Waste of time Comment from : Snoopy |
|
0:00: 📚 Economics is a complex social science with no definitive solution, leading to disagreements among practitionersbr4:28: 📚 The classical school of economics, led by Adam Smith, emerged in the 18th century and challenged the flawed mercantilist system, focusing on increasing the wealth of nations through mass creation of wealthbr7:27: 💰 The early philosophers and economists believed in the importance of an optimal distribution of wealth and division of labor for economic growthbr11:29: 📚 The Austrian School of Economics challenged classical economics by introducing the theory of marginal utilitybr14:11: 📚 The Austrian School of economics emphasizes the importance of subjective value and rational consumer decision-makingbr17:26: 💡 Keynesian economics introduced countercyclical fiscal policy to smooth out the business cycle and manage economic affairsbr21:10: 📚 Economists have different opinions and approaches, but they all work towards solving the central economic problem and agree on the importance of investing in the futurebrRecap by Tammy AI Comment from : Chris Lee |
|
Ehh, there's a HUGE difference between "opinions" and the scientific method You can't just handwave away the ideological, speculative and philosophical base of "economics" with that sort of false equivalent! Comment from : Daniel Vintersvärd |
|
Talking about non-falsifiable theories while using TED talk stock footage I don't know if that was intentional shade, but if so, I am bhere/b for it Comment from : Sean Valentine |
|
To a larger extent there are three dangerous professions that hv caused Africa big problems 1 Mechantalists, 2 Capitalism 3 Neo Colonialism Comment from : Paul Nkumbula |
|
They all agreed that the best (least worst) tax was on “the unimproved value of land” as Friedman put itbrbrAka the LVT or Single Tax, which Henry George formalized, but Adam Smith anticipated Comment from : zedoud12 |
|
Only one economist matters that's Ludwig V Mises Comment from : BinanceUSD |
|
Keynesian policies have failed to avoid economic collapses and if anything have drawn them out because they kicked the can down the road so many times previously brbrThe only reason Keynesian economics are still used is because they use circular logic and reasoning to make government officials feel good about themselves while screwing with their citizens capital Comment from : Griffon Gaming |
|
Kind of sad that the Chicago School gets no mention in this video, but understandable given that it's not quite as influential as these three Comment from : Rosencrantz17 |
|
There is less to the 'Austrian School' than one may think Hayek doesn't really offer an economic theory, but a set of prescriptions from a committed ideologue Neoliberalism is nothing but the promotion of the economic interests of the business elite Comment from : Blankinship Kevin |
|
Rational customer is hard to sell too Comment from : Gebriel T |
|
There are some big mistakes in the vídeo Specially about economic history In the beggining, the states used to interfere a lot, more than nowdays Just read about "infant industry argument" and all other protecionism that have been applied in uk since XVII century This is a really eurocentric thought, but it is good to study about how the villains tell the history Comment from : Vinicius Garcia |
|
You know this video is an ideological take just by the creator considering the Austrian school to be one of the most important schools of economic thought brbrThe creator has no idea what classical political economic theory was, and the Austrian school didn’t “shake up”anything - their scope and impact in the history of economic thought is trivial Hayek may be the only one who is remembered, ironically because of the debates around the time of prices and production - his least “Austrian” and naturally last work to try and deal with economic-theoretic concepts Comment from : Dimitri M |
|
Humans are greedy and power hungry That is why all Kind of socialism always falls and make the masses poor Keep the goverment small and taxes small to none and humanity will prosper Comment from : SEB RING |
|
Economics is like science hmmmm don't you think that's wrong on so many Levels but great video for newbies Comment from : Nightcrawler |
|
I hope more people can learn Chinese to get comprehensive firsthand information about China and seek more job opportunities
brChinese is not that difficult to learn as you imagine Chinese primary school pupils can easily learn 3000 characters, which cover 99 percent of Chinese characters in newspapers and books
brI’ve spent lots of time in making many videos teaching Chinese in a humorous way I hope somebody can give me some advice about how I can reach my target audience who want to learn Chinese Comment from : Henry Guo Teach Chinese in Jokes and Tell Jokes |
|
The School of Salamanca wrote some economic theory, because administrating the resources of the americas was important Comment from : Ruben Guirado |
|
The assumption that everything starts with A Smith and before that there were pure mercantilism, is false But to understand that statement you study deeply another cultural spheres that by definition you over-simply Yo makes economical theories in the anglosaxon line, it's fine, and it works But it doesn't match the facts and the reality Of course that's what learn in school, but what can be expected from a nation where the Queen was a mere pirat I meant no offenses, just a description of how your story starts The big advantage that the Industrial revolution gave England make you think you are right, but before that it was not all about mercantilism Comment from : Hector Jimenez |
|
If Austrian economists posited the idea of utility & diminishing marginal utility, why is it fringe? These are obviously true things Comment from : David Leintz |
|
Thank you to our host for this thoughtful presentation Your graphics are the best ever Learned a lot Comment from : Fred K |
|
Economics is so not a science 😂😂 where did you pull that one? Comment from : Ranjith Powell |
|
Idiot Economics is the study of the distribution of the wealth created by workers Comment from : fu hjk |
|
Keynesian fiscal cycles have been turned into “we paid you, so vote for us” political efforts, all while destroying economies Comment from : Brad Bailey |
|
Which School are you ? Comment from : Atang Bingana |
|
“I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it’s possible”brMilton Friedman Comment from : MOATH |
|
I started watching Money & Macro reponses to your videos He does an excellent job of exposing your videos as nonsense You should fix your work or quit Not good, dude Comment from : Peter Coogan |
|
i've got a lot of reading to do!!❤ Comment from : Apricot Computers |
|
1:38 1:52 (in the Attention Economy) it gets much easier to experiment on economies unless you're awake Comment from : 김연유 |
|
🚨 This is the third video I’ve watched of this channel that shows clear bias Well disguised for the average viewer, though Beware 🚨 Comment from : IdwarfRedwoods |
|
I learned a lot from this video Thank you Comment from : Brian Glaze |
|
Austrian certain has merit I disagree with all science being measurable initially Sometimes we have not figured out how to do so, don't have the tools, or it needs reframing Comment from : matt81093 |
|
BS Comment from : Willie West |
|
Thanks! Comment from : D9david |
|
7:22 Comment from : Charbel Eid |
|
Wait by your definition of a science is Mathematics a science? Comment from : Connor Gilbert |
|
8:46 what is bro doing dude Comment from : MrDaglur |
|
"If a regular person has heard of any economist it would be Keynes"brSure, Keynes is pretty famous but you're forgetting an even more famous economist - Karl Marx, and although rather unpopular in the west, his school of thought has been very important historically Comment from : - 42 - |
|
Lol there are others schools of thought before way before that they don't teach you in Australia lol Comment from : Matthews Jose |
|
Heads up! Your link to Acorns doesn't work Comment from : Shaun Ramkissoon |
|
Aristotle to Jesus (BPUH) !brHope you didn’t omit Kitab Ul Khazain deliberately Comment from : syed shafiq |
|
A problem that has no solution is called a predicament Comment from : Clark Harris, DAOM |
|
Always interesting, thank you Comment from : Articulate99 |
|
no marx??? Comment from : VezMusic |
|
Random comment: But I have used Acorns for a few months now, and I've made good money off of it with little invested Been going good so far, would recommend :) One of the few YouTube sponsors I can say I like Comment from : Dean Brandt |
|
The art of buffering sciencebrThe knowledge of privilege and complaisance Comment from : Stupifying Stupedity |
|
Austrian economics is the future, specially after the AI revolutionbrbrCountries that refuse to accept the subjectivity of value, the problem with fiat currency, and the importance of entrepreneurship are dammed Comment from : Rod96 |
|
Keynesian economics has led to the degradation of every economy its been experimented with Its the reason every nation on the planet is basically insolvent Comment from : Paul Berkey |
|
Classical Capitalism failed because it exploited workers so much that it created Communist theory To counter communism, Keynesian Economics was introduced to kick the can down the road Comment from : Edwin Vargas |
|
I hoped thr video would cover the role of individuals and their freedom in a keynesian system Comment from : Sergio Gonzalez |
|
@6:50 Sir this is not true , every product created, originated from either being harvested or mining The Industrial Revolution was just a better and efficient way of creating old and new products, where the raw materials originated from mining or harvesting Comment from : N-ze PRIDDIE |
|
Krugman? LOL Comment from : Bill Bissenas |
|
Karl Marx: 😑 Comment from : Amphibian |
|
Expressing economics as a cultural tradition as opposed to an exact science is a very incisive approach This approach was embraced by Jesus Christ Comment from : Douglas Sauvageau |
|
With all due respect, none of these 3 theories has been reformulated to reflect the fact that the gold standard ended back in 1971 So, the dollar is now a full fiat currency This changes its national debt There is no longer a need to limit the money supply to protect the gold supply of the nation So, since 1981 and Reagan the debt has increased from $1T to $31T And, this has had no measurable negative effect on the US economy At this point, there is no way to pay it off, but creating $31T out of thin air This is a very bad idea So, we need to learn to stop worrying about its size Comment from : Steve Fitt |
|
7:00 this Comment from : Schnyder |
|
Meer-cant-teel-ism Comment from : Anastasia Hopkinson |
|
help others decentralize political government for democracy with divine free will unity Comment from : James Ruscheinski |
|
Every financially well state in America has no state income tax Comment from : JalapenoSteve |
important questions of money banking and finance | important questions of MBF | MBF important РѕС‚ : Aftab Attari official Download Full Episodes | The Most Watched videos of all time |
Garena DDTank:Combo 2000 Tốc Độ Sẽ Kinh Khủng Như Thế Nào?Best Cướp Turn Cân Team Lật Kèo РѕС‚ : Review Game N.B.H Download Full Episodes | The Most Watched videos of all time |
The Two Big Economics Lies You Still Believe | Economics Explained РѕС‚ : Economics Explained Download Full Episodes | The Most Watched videos of all time |
Economic Growth in the Gilded Age — US Economic History 5 РѕС‚ : Learn Liberty Download Full Episodes | The Most Watched videos of all time |
#1 A Level Economics - The Economic Problem ? РѕС‚ : Help2Learn ?? Download Full Episodes | The Most Watched videos of all time |
Lesson 1 Circular Flow of an Open Economy TDBS Economics Grade 12 by Carden Madzokere #economics РѕС‚ : Carden Madzokere Download Full Episodes | The Most Watched videos of all time |
Money and Banking Project | Class-12 Economics Project | CBSE | Economics Project | MANSI SINGH РѕС‚ : MANSI SINGH Download Full Episodes | The Most Watched videos of all time |
Tobin’s Portfolio Approach to Demand for Money | Macro Economics | Learn Economics on Ecoholics РѕС‚ : ECOHOLICS - Largest Platform for Economics Download Full Episodes | The Most Watched videos of all time |
Best Universities in India to Study Economics | Career in Economics in India| Job opportunities РѕС‚ : UET Universities Entrance Tips Download Full Episodes | The Most Watched videos of all time |
Phd In Economics In India || Career After Phd In Economics || Simranjit Kaur РѕС‚ : MS Study Guru Download Full Episodes | The Most Watched videos of all time |