Genius at Work.

neil

Legendary member
5,167 747
Excellent video, especially the "lowering inflation video" and the comments relating to inflation and the German experience.
 

BeginnerJoe

Senior member
3,329 350
I thought this was going to be the Beginner Joe tribute thread.

What gave you that idea ?

But I think the guy in the video got it wrong about China. The Chinese have 'no' freedom, yet they will have the biggest economy in the world. Having that wrong meant I couldn't get past the first video. The Chinese are demonstrating planned economy with tight state control can work.
 
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neil

Legendary member
5,167 747
What gave you that idea ?

But I think the guy in the video got it wrong about China. The Chinese have 'no' freedom, yet they will have the biggest economy in the world. Having that wrong meant I couldn't get past the first video. The Chinese are demonstrating planned economy with tight state control can work.

The guy got it wrong?
So-what is the correct answer (with proof)
 

counter_violent

Legendary member
10,514 2,784
Excellent video, especially the "lowering inflation video" and the comments relating to inflation and the German experience.

Agreed, and look where the Germans are now, being asked/forced to bail out all of the rest of the feckless Europeans. No wonder that the Germans are very wary of the whole mess, they lived through it previously and some can probably still remember. (they will probably be dismissed as bitters):rolleyes:

Friedman is also right about how people never look back and learn from history.
 

LiboNZT

Junior member
47 3
Friedman is decent. Nothing more, nothing less. If he was alive today he would scrap half of his theories after the 2007 sub-prime crisis and that is a fact. The free market economy is not the perfect economic model and without state supervision the markets would NOT do their job effectively and might aswell create even larger problems. As for Germany my opinion is that they are obliged to bailout the rest of Europe since the ECB ( aka Bundesbank) is playing by Germany's rules. Let the ECB print more money and actively pursue greater economic intergration or bailout Europe and hope that the Germans can do that for the next 2-3 years.
 

SlowlyButSurely

Well-known member
324 38
I wouldn't be surprised if ze germans have printed a bunch of deutsche mark already, and are only staying with the Euro as it benefits their exports greatly as things stand
 

new_trader

Legendary member
6,541 1,419
What gave you that idea ?

But I think the guy in the video got it wrong about China. The Chinese have 'no' freedom, yet they will have the biggest economy in the world. Having that wrong meant I couldn't get past the first video. The Chinese are demonstrating planned economy with tight state control can work.

Don't confuse Political Freedom with Economic freedom. China is moving more and more towards Capitalism as the The USA and the U.K move more and more towards Socialism.
 
 
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