side let's go to the uh... phones
econ from a five three oh areacode who's this
uh... undergrad actually i think with the new york city dock
uh... because they have to have a new york city
eb
uh... though
i mean chloe one gives you a bit of actually generate with your show up on
the line but by any libertarian about his radical libertarian if you get and
uh... i saw your renewed challenge to libertarian three other day on you tube
and but i would pick up a call
uh... so it now
i have a lot of libertarians colin
they all claim that there are real libertarian and other people are not
real libertarians
uh... and and for me what's i'd find uh... most uh...
distressing about libertarian ideology is the kinam mix ah... of it and so
uh...
demean sense of uh... of of what your hearing
well you would reform
our society from an economic state
uh... or political experience i would
tryin mu four uh...
very clearly defined enforced property rights
government-issued economic i was actually wondering uh... what ordered to
your perception of libertarian economics
because i'm not
from the people that you've talked to previously in people that you could if i
found your show
i'm not sure i really understand what you're even talking about
well uh... my sense is is that uh...
they want property rights super all is they want less uh... government
regulation they feel that uh...
that government is uh...
shackle ng business that if everybody pursues their own self-interest
and society functions much better and i
disagree with that all of those uh... promises now maybe that is uh...
arron uh... interpretation of of
what your
uh...
what your brand of economic liberalism the canonical determinism is but uh...
min
and that i got a right
out you're pretty close to be nurses other things i would add a bare black
um... what else would you have any
what dot what else would you at
uh... i would say i would talk about getting rid of
a government involvement in the uh... issue until credit then money
uh... to belong to a point but what i'm
really kind of spat baffled about instead this
what you've just described to me really is not
anything that is particular to libertarian economic studies
pretty mainstream stuff
uh...
most economists
so if you were to put them together and have them argue about something yet you
would be differences in where they uh... and or marginal difference doesn't think
that they believe and those marshall different routes can be important but on
the main thrust of
economic uh...
syria and terms of developments problem
a minimum wage didn't like that and economists actually have it pretty
striking consent to conduct with franking consensus on minimum wage
compromise reduction but that greatly repeat that
what is the striking consensus on minimum wage
are that most most economists
tends to be moderate democrats
who are people who
oppose the minimum wage would like to keep taxes lower
and also want to be better international trade a four-year international trade
uh...
i had i don't know who you talk about the madonna manager others
acute years off the phone babydoll are part of her second napa recycling easier
can you hear me
can you hear me hold on for said
uh... christoph i don't think that most economists identified themselves as
democrats or not the mean we're talking about economics we're not talking about
politics
and then in terms of partisan politics talking about economics now i don't know
that most economists
believe anything of what you just said uh...
i think um...
my sense is that most economists
know when it comes to the minimum wage
uh... know about
manav sunny
which is a
it's centrally that uh...
error-free as its okay uh... let's just look at this
economies uh...
uh... huffpost business
february of two thousand thirteen
economists say raising the minimum wage is worth it
majority of economists said the benefits the low-wage workers raising the minimum
wage outweigh the possible negatives which include potentially making it
harder for low wages workers to find jobs according to a recent poll
from the university of chicago zai g_m_ for
the blow your mind
you know that really didn't want my mind uh... on it
either given he will get published studies stink like uh...
surveys of the americans
he wanted a local piso
surveyed americans an economist on the economy down think that have been book
that extent that we bought a writers like dot bryan caplan
you you really do think that there is far more of the contents of on these
issues
they hadn't died
then you would imagine
and well you know that i think this is only now on this being then and i don't
think i was well attended thing right now that contradicts that
antarctica in
i would be it would be uh... surprise me more than i imagined him
looking at a study right now either the universe is chicago um... of the some of
them
most prominent economists in the country
okay so i do you have a look at it
uh... turnout so let's just say that i can i continue what i was swept and try
to think that i could have
will you know what what the compared to his uh...
there is a lot of content is between the two comments
even people like
paul krugman delight considered pretty much the devil in terms of huh
public policy he got to have uh... very actually berry berry good views on
things like abolishing rent controls
uh...
an international trade especially he's values very very and paper of
uh...
far more freedom adamantly erections was far more freedom mean in terms of
of trade what does that mean
and he did tell me what what
what that actually means he's i don't know what for more freedom in treatment
are you saying no tariffs
what do you say
yeah something like order god if you were important export restrictions
um... actually being able to do you know you are not ordinary orders for our
country has the number of embargo tower right now
website according to a couple more timely and it is i really do apologize
unknown if you're you're complaining a lot of different things here
we have a bar goes our with cuba
and iran
uh...
i certainly don't think we should be embargo in cuba and and i'm not even
sure that our embargo eh...
works with iran but but
but let's put that aside that's not
a free trade issue
um... and maybe it is the embargo anything concrete radiation
well it's more of a it's more of the foreign policy national security issue
but i agree with you will and that's what stipulate that day in the main
hi think embargoes don't work for their foreign policy aims and what not but i
mean i i i don't think most economists would perceive that as being uh... you
know
appointed of of trying to
helped create the the articulated find pic
tariffs are
fairly low in this country for uh... imports as far as i know
yes it would be nice i guess if we had more access to uh... chinese markets but
we can't control that
um...
in really the the issue when it comes to trading
nafta and
and uh... certainly from what i've heard the t p p
uh... are going to essentially allow
four
or countries to have no sovereignty in terms of
what kind of labor restrictions
what kind of environmental restrictions
uh... they will impose in their own country in fact you know in nafta which
she must
actually be very excited about this
we have american companies
uh... who have soon
the canadian government because of their on environmental regulations
uh... we have uh... american companies that suit mexico
for attempting to uh...
to uh... mcginty who will
instituted by mental regulations of that in hinge upon their ability to business
so in your mind
that's a good thing is i resent
uh... know that not
what i'm saying at all that will tell me what you're saying because he said i
think that uh... those tariffs ok quietly
nokia two g
just let me talk of one second
is that i've
cage everytime i try to stay what i'm saying
you cut me off
i can't hear you speaking over me and i have to ask you what you had to put on
the space craft
are you going to let me see
thank you
what i've been trying to create a contract i'm is
i think that you had a very
skewed beauty economics even just a general economics
neoclassical
uh... or even canteen pirie
i hear ever actually deferred ireland a week or so ago you would recommend you
believe here
overstatement remade overpower about the uh...
the regulations and bangladesh
nethercutt magna gracia towards some kind of
libertarian
capitalist free-market defender
so he could have some more free market beautiful and uh... i have another
liberal fear
very much a liberal very progressive thinker
um... and
shocked that you can make in completed his infuses something you'd like
that was like libertarian pretty addresses on
well i don't know why i don't i don't antonella exactly what the point of what
that salute salute to realize i mean uh... give the chance to speak
medical issues retracted uh... his position thereafter and not not because
of my criticism but he retracted it
um... any subsequent uh... piece which i'm sure you read art but what
difference does it make
what what difference as i possibly make make your point about trade say
something of substance
back cod i didn't call and talk specifically about trade you asked me
about trade
and i've been trying what do you want to talk about specifically
that i criticize medical issues
now old i want to talk about typically i don't think that you have in general
eight eat grass whatsoever
on the economic theory open trade that you need to me emptying
the libertarian economics about
uh... self-interest and uh...
private property rights treatment that notes are going to artists
i think that economist trade policy perspective are in favor of
well you're wrong
you're wrong about that but i mean any uh... you know you use you claim to me
that uh... all condom is saying or most economists or degrade radar contact
partner
many economist
uh... most economists
there is a are large confederates
think like a minimum wage tends to be an effective at training
are not making orig
okay
uh... is there anything in specifically what are the bout alone the fact that
high
in cording to u don't know the consensus of most economists
let's talk about specific ideas what is a is it was at all you want to tell me
is that
i don't
that i a m wrong in my perception of
most economists think or something i mean i had
so
say something special i think the corporate world burger structural
engineers in part
if you don't have a unique general baseline knowledge of economic theory
i don't think it is responsible
for you to be making
policy statements
connected directly are related to those subject
and uh... so totally long enough from uh... your
office that uh... the economic institute of whatever whatever it is i work with
apart what proportion
are you an economist
credit card melbourne do you have a common ground
hotel
so worried about you know i don't know how to read and i can't wait
quite a bit i don't doubt that you know
now listen
uh... is there any specific ban other than
now that
hi don't know the perspective of the majority of economic of uh... economists
and that uh... it's irresponsible for me to talk about economics
if i don't know the consensus of most economists according to you
drinking specifically well recruitment contract according to your all good
being totally contrary to that you brought up
or favorite artist web which part of the general body of accepted economic
doctrine something that you won't hear so many microeconomics course pot
at university
you telling me thing to do specifically contrasted specifically conducted in
mostar like many kinds
but in regard to that aren't paying one dash made a issue out
uh...
and that shipping order something you're eating hamburger topics etc
uh... rational choice models of economics
and other totally unrealistic and that's world
i think you have a ticket
it was clear from what you've heard that there is no understanding of what it
meant even by rational choice or
rational expectations want to tell us
date
why don't you tell us
i'm giving i'll tell you something to uh... there's communication about
rational choice worldwide
uh... rational
behavior implies that people are always making corrections decisions
or that they have some kind of perfect knowledge which is are obviously not
true
and rational choice or cut actually means is that people
have goals and you're listening to to attain protocol
it doesn't mean that their goals or even
gold but they should be pursuing
the government of being prepared using are going to attain them but from that
fact
you then
uh... dubbed the basis of a lot of economic theory that told you about
marginal utility echo how much would you do it
the stupid as does his eyes and i am i but i just wanted to know what i mean
this is a time in
i'm quitting
you just blew my mind i can no longer produces plus discuss the agreements
that would probably still shows and so you're just going in to tell me that
uh... they just get this straight
you're just calling its only that i'm irresponsible and when i talk about what
they can
pointing out that that was actually part of my main right click on view you got
to be silly question go to court of the foot of water completely while you can
call commands believe voted every good guy topics like the advantages they call
in and we take a topic
and we discussed the one issue they tell their side centel's there's but all
we've gotten from this is basically
senders and no uk uh... economics and but we're not to discuss anything that i
feel like we have much more we have much more efficient to libertarian to call
and they just uh...
seyi europeo p had an outfit because that's basically were sent
it
i would never at would never call your booking and well hoping to save this all
out of time
well it looks as if you're going skiing this is this in here's here's the point
call and after something specific and i don't remember
when i a uh... mentioned
uh...
you know something from three or four weeks ago
colin if there's a specific topic you want i don't know if you want to bay
would be next time
about uh... minimum wage
let's do that
but by saying to me
that the majority or the consensus of uh... economists is that the minimum
wage is ineffective and make sure what ineffective that what you're talking
about
but then i say to you i'm looking at a study that is uh...
that is senior poll results from the idea and forum
okay uh...
that shows that in fact
that's not the case and you say well
i've got other studies that's fine but that's not we're not getting anywhere
with that
so in a while we're talking about is what the consensus of uh... communistic
you know the consensus of akamai separately awards that run darden road
opp were right in their assessment that uh... that debt uh... hurts growth and
the fact that matters we now know that's not in the case did even their own study
was the book
so you know what i'm just not even interested in that uh... you know colin
was something specific so that we can actually have a conversation
uh... you you're just going around in circles
flat-tax people go voice a little i don't know now
uh... come back next week we'll do it then
appreciate the phone card
but couldn't get them
uh... i was
millions so out of their uh... almost feel like i should call a judge people
for that
um... wasn't unregulated tried though
for and strike