Robert Higgs may not be the most dynamic speaker but what he says in this video is important. Higgs correlates the effects of wartime events with inflation and taxation. Dr Higgs maintains that Keynesian economics was fully discredited in the late 1940's through empirical evidence.
This is a long video and the visual analytics look like something preceding the digital revolution; however, what Dr Higgs says is important to understand especially given current events.
Saturday, February 28, 2009
Sunday, February 22, 2009
Jonathon Jarvis - The Crisis of Credit
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
Aside from the wonderful graphics this video provides an excellent overview of the credit crisis, what motivated it, how it expanded and why the whole house of cards collapsed.
What's missing early on is an explanation of the 1% lending rate set by the Federal Reserve. After viewing this video you should ask yourself are few questions...why was the interest rate at 1%? What motivates the Federal Reserve to set rates so low? Would the marketplace have set a more realistic (read higher rate) sooner thereby putting the brakes on the situation before it became wildly out of control?
In short, would it all have happened if the marketplace truly established the cost of borrowing?
If you ask yourself those questions and do a little research you may determine that central control of the cost of capital (the Federal Reserve) is not the most efficient way to allocate capital.
Sunday, February 1, 2009
Charles Darwin's 200th Birthday
February 12th will be the 200th anniversary of Charles Darwin's birth. Given the notoriety of his ideas, I feel obligated to put in a plug for ole Charles.
Aside from perhaps Einstein, I can't think of a science writer that's had a greater influence on the way the world is perceived than Mr. Darwin's book, On The Origin of Species. The book; published in 1859, was an instant hit; it's initial printing of 1,250 copies selling immediately and with far less controversy at the time that the theory arouses in some circles today.
You can find an excellent overview of Charles Darwin's complete works here
This Richard Dawkins interview of Dr. Randolph Nesse provides an interesting overview of the reasons why Darwinian Natural Selection theory works, sometimes producing less than optimal solutions, but always adapting.
There isn't any doubt in my mind that Mr. Darwin's theory has been completed vindicated by science in the 150 years since the book's original publication.
Aside from perhaps Einstein, I can't think of a science writer that's had a greater influence on the way the world is perceived than Mr. Darwin's book, On The Origin of Species. The book; published in 1859, was an instant hit; it's initial printing of 1,250 copies selling immediately and with far less controversy at the time that the theory arouses in some circles today.
You can find an excellent overview of Charles Darwin's complete works here
This Richard Dawkins interview of Dr. Randolph Nesse provides an interesting overview of the reasons why Darwinian Natural Selection theory works, sometimes producing less than optimal solutions, but always adapting.
There isn't any doubt in my mind that Mr. Darwin's theory has been completed vindicated by science in the 150 years since the book's original publication.
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