A Recipe for the Next Great Depression | Thomas J. DiLorenzo
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Presented by Thomas DiLorenzo at “The Great Depression: What We Can Learn From It Today,” the Mises Circle in Colorado; sponsored by Limited Government Forum of Colorado Springs and hosted by the Ludwig von Mises Institute. Recorded Saturday, 4 April 2009.
Comments (25)
September 23rd, 2010 at 06:07
Lesson #2 was learned quite thoroughly, actually. Or more likely they knew what they were doing completely so there was no lesson to learn. Mr Di said it himself: privatized profits with socialized risk. That lesson was learned long before the S&L crisis, which was merely the application of that old lesson.
September 23rd, 2010 at 06:55
HATE CRIME: In proper English it would be “hateful crime,” in practice it’s THOUGHTCRIME, as envisioned in George Orwell’s 1948 novel: “Nineteen Eighty-Four,” which had been tentatively entitled: “The Last Man in England.”
In Daytona Beach, NEWSPEAK is thriving. The new police station, which is on rural land (the old place was in junkie town) is the “Law Enforcement Center.”
September 23rd, 2010 at 07:47
AGONY IN CRISIS (Go to your gynecologist and scream: “Barbara!”) Marines don’t represent the citizens of the United States. They are part of an homoerotic cadre of international criminals who will be brought before the bar of justice. [Dispatching queers {a.k.a. marines} to the Orient doesn't frighten the Chinese...]
September 23rd, 2010 at 08:18
I love the opening music, very good video. I now follow the Mises institute..Good stuff.
September 23rd, 2010 at 09:12
The law of the jungle. Humanity has to evolve beyond that.
September 23rd, 2010 at 09:42
The thick, dark clouds in the beginning are perfect.
September 23rd, 2010 at 09:51
Yeah! Up yours Krugman.
September 23rd, 2010 at 10:40
Sometimes I pause and think if we’ve made a mistake somewhere when as the speaker did, we accuse even nobel prise winners of blatant ignorance when it comes to economic matters.
But really the WW2 argument is just the classic econ 101 broken window fallacy in other clothing so at least in this case I think it’s warranted.
September 23rd, 2010 at 11:07
That people would trust the only institution in society that doesn’t obey by the laws of supply and demand (read: the government) to fix the state of the economy is beyond my comprehension.
People will believe anything they are told, so long as it has some apparent authority behind it.
September 23rd, 2010 at 11:31
You sir, are no student of human psychology/nature, but you are, however, dead wrong. Among the Yanomamo Indians of the Amazon, the number one cause of death amongst men is murder. Take a wild guess why? — competition for scarce resources. Some of them have evidently developed the notion that if one strong enough and willing to kill, one can get wealthy by taking it from someone else. You’re not suggesting they’ve received capitalist training are you? (That’s a rhetorical question.)
September 23rd, 2010 at 11:39
greed is a byproduct of a lucid dream, carrot on a stick…..
September 23rd, 2010 at 12:23
Can you cite some peer-reviewed studies to back this claim?
September 23rd, 2010 at 13:23
Nice Thomas Woods quote. One of my favorites.
September 23rd, 2010 at 13:58
+ until production (and jobs) moves to asia
September 23rd, 2010 at 14:51
No greed is a trained “skill” in the capitalist society. There is no greed gene in humans DNS
September 23rd, 2010 at 15:08
AWESOME!
September 23rd, 2010 at 15:24
except for Hayek
September 23rd, 2010 at 16:02
nice comparison
September 23rd, 2010 at 16:56
blaming greed is like blaming gravity for plane crashes
September 23rd, 2010 at 17:33
Its funny how ignorant people can be. Here in florida they started raising the minumum wage about 2 years ago, what happend was a sharp increase in all the fast food joints amoung other things around here. Now although a lot of these 16 year old kids at mcd’s think they are getting more money, they are now paying more for the same things that they are more prone to buy anyway like fast food and clothing and what not. you dont understand that everyone pays for increased production costs
September 23rd, 2010 at 18:17
You’re not laughing. I think you missed Livegems’ joke.
September 23rd, 2010 at 18:21
“fairness” through taxation is hilarious. like paying more as a person for the same services or even less is fair. it’s making me LOL.
September 23rd, 2010 at 19:21
I guess you are the one who is left out and unemployed because of the minimum wage law. I’m very sorry for that. I guess minimum wage law should be lifted and you should be making $2 / hr. Don’t give up your job search.
September 23rd, 2010 at 20:06
What do you mean ‘a more fair way’? Did the company’s janitor earn $500,000,000 for the company last year? No, and because of minimum wage and unions, it’s even possible the janitor was overpaid. Let’s do a little math. 5 million * the number of working-age citizens = more than a Quadrillion. That’s over 70 times our GDP. In other words, the average American doesn’t produce 5 millon worth of goods or services. If you want to be ‘fair’ it might be possible that some execs need to paid MORE.
September 23rd, 2010 at 20:35
To what are you referring?
Who should work together, how, and to what purpose?
What govt money? The govt doesn’t have money. The govt TAKES money. And right now, they’re not even taking just OUR money. They’re taking our children’s money and our grandchildrens money, and our great-great grandchildren’s money.
I do hope that there are a few of you people ticked off enough to go to a tea party this April!
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