In this video, I discuss an economics video from Second Thought, so bafflingly stupid it is genuinely impressive

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0:00 Intro

4:10 Second Thought Unfounded Assertions

9:08 Grand Economist Conspiracy

11:53 Zero Sum Economics Debunked

17:01 Second Thought DENIES Supply & Demand

31:54 Second Thought Doesn't Get Discount Functions

39:54 Second Thought Doesn't Get Pricing

42:32: Chilean Economic Miracle

51:09 Second Thought Praises Slums

Sources:

Original Video: https://youtu.be/rPLrBWXViH8?si=M-vmxoT4MC9BIX0h

Some Reading On Chile: https://www.cato.org/blog/chiles-success-story-difficult-deny

How Chile Saved Social Security: https://www.cato.org/policy-report/july/august-1995/success-chiles-privatized-social-security

History Of Chile Econ: https://manifold.bfi.uchicago.edu/read/a-monetary-and-fiscal-history-of-latin-america-1960-2017/section/71c11e3e-491d-48e8-a1b5-28f54da11951#:~:text=In%20aggregate%20terms%2C%20the%201960,values%20observed%20in%20Allende's%20government.

Venezuela Toilet Paper Shortage: https://slate.com/news-and-politics/2015/02/venezuela-is-running-out-of-toilet-paper.html

Lysenkoism Reading: https://ethos.lps.library.cmu.edu/article/id/560/

Peru Titling Improvements In Child Labor: https://scholar.harvard.edu/files/field/files/field_cofopri_qje.pdf

China GDP Property Rights: https://www.researchgate.net/figure/GDP-of-China-from-1952-to-2005_fig1_332413853

China Hong Kong Taiwan GDP Per Capita Chart: https://commons.wikimedia.org/wiki/File:GDP_per_capita_in_Hong_Kong,_Taiwan_and_Mailand_China.svg

Simple Explanation of Discount Functions: https://dhjj.com/understanding-the-discount-rate-in-business-valuation/

Peru Uses Land Titling To Protect Native Tribes & The Amazon: https://www.pnas.org/doi/10.1073/pnas.1603290114

#SecondThought #Economics #IamSean90

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