Welcome to the second episode of Adam and Tyrone's exploration of Economic in Three Lessons by Hunter Lewis! Henry Hazlitt's masterpiece has been upgraded, and here on Haman Nature we will guide you through the entirety of this great new book on economics! (links to earlier episodes below)
00:00 — Intro. Tyrone's feeling nerdy! Let's learn economics!
01:46 — Let's read Lesson Two: The Free Price System, Chapter 2: The Central Role Played by Free Prices!
04:17 — Cooperation is a big part of lowering our time preference such that we can save and invest and can start to eliminate poverty.
06:07 — What conditions are required for us to cooperate effectively? How important is it that the price of money itself be true?
09:38 — Prices should be organic. Don't believe the "market failure" cronies. Keep politics out of money.
15:34 — No free prices? No free people.
16:38 — Let's read Lesson Two: The Free Price System, Chapter 3: What Prices Do For Us!
19:04 — What would happen if we had no prices? What miracles do prices accomplish?
22:37 — Price controls lead to shortages. Pure evil. Pure insanity.
29:03 — Keynes and Marx. What a couple of jokers! What do central planners do without prices? How can they make any sensible production decisions?
35:40 — Mises and Hayek to the rescue! Free prices solve critical problems!
41:00 — Outro. Up next: more from Lesson Two: The Free Price System!. Thank you for watching Haman Nature!
Book mentioned: Economics in Three Lessons by Hunter Lewis:
Part 1 of this series:
Adam's other show: Natural Order Podcast
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