American Monetary Association 369: 10% Less Democracy & Hive Mind, How Your Nation’s IQ Matters by Dr. Garett Jones, BB&T Professor Mercatus, George Mason University
How do you define Democracy? Dr. Garett Jones and Jason Hartman traverse through a broad range of capitalism and democracy played out in different countries. Does one influence the other, or can they exist in moderation together? As well, Jones speaks to the typical choices of more educated people. Are groups more willing to cooperate if they have a higher or lower IQ?
Books:
Hive Mind : How Your Nation's IQ Matters So Much More Than Your Own
10% Less Democracy: Why You Should Trust Elites a Little More and the Masses a Little Less
Key Takeaways:
[2:00] Democracy is an absolutely sacred value, but don't know what they mean?
[3:15] In most countries, judges kept "arm's length" away from voters who seem to have better economic performance.
[6:30] The American founders were not for pure democracy.
[8:00] Math and Science scores are pretty good predictors of individual life outcomes.
[11:00] More educated people are most likely to see the invisible hand and support laissez-faire.
[14:00] To some degree, Milton Friedman's prophecy was right: capitalism leads to democracy.
[16:00] What's the Da Vinci Effect for nations?
[18:20] Are smarter groups more cooperative?
[20:20] Willingness to delay gratification is a sign of intelligence.
[22:50] Are banks stealing our money through inflation, savings, or wealth?
Websites:
1-800-HARTMAN