Perhaps the lamest myth about our government debt is that it’s about $20 trillion. “In reality, it’s much more,” says Antony Davies, an American economist, speaker and author. Davies says trillions more from federal agencies and government-sponsored enterprises and unfunded obligations from the state and local level have pushed the debt to a staggering $150 trillion! Davies presents a stirring visual of our out-of-control debt and unfunded liabilities, and a possible solution, in this episode of Learn Liberty.ARVE Error: need id and provider
Tag Archives: Learn Liberty
10 Myths About Federal Debt
Myth 1 is that the government owes “only” $20 trillion. In reality, it’s much more. But luckily, Myth 10 is that there’s no way to fix this problem. Prof. Antony Davies from Duquesne University in Pittsburgh, Pa., explains in this Learn Liberty segment.ARVE Error: need id and provider
Why the Debt Doubles
“Present debt is no more than future taxes,” says Mario Villareal, professor of economics at George Mason University’s Institute for Humane Studies. That’s his prelude to the daunting question: Why does the debt double for every president and will eventually double twice in a single term?
“A very sophisticated tool we economists use to think about how individuals make choices is very powerful: common sense,” Villareal says. “Politicians respond to incentives and when facing choices will do what is likely to advance their own objectives.” Villareal explains further in this edition of Learn Liberty.ARVE Error: need id and provider
Everything Has Its Price
Donald Boudreux, professor of economics at George Mason University, tells us that the price of products on the market ensures that there is sufficient supply to our demands, even in times of scarcity. But who decides the price structure? Manufacturers and stores are a large part of the process, but Boudreux tells us in this edition of Learn Liberty that the biggest factor in price determination is you, the consumer.ARVE Error: need id and provider
Why Are Indians So Poor?
Investigative and consumer reporter John Stossel says that no one group has never been taken care of as much as the Indians. So why are they so poor? he asks. Former Kamloops band chief Manny Jules says, “Fundamentally, the root of the problem is that we don’t have the same property rights that others take for granted.” Property and Environment Research Center Executive Director Dr. Terry Anderson concurs. “Many reservations in the United States do have some fee-simple land. That is privately owned land like you and I own our houses,” he says. “And the Indians that have privately owned land do much better.” Anderson joins Stossel and Jules in an expanded discussion of the plight of the North American Indian in this edition of Learn Liberty.ARVE Error: need id and provider
Debunking the Great Depression
The Great Depression was a sobering time for our planet, and America in particular. Contrary to popular belief, the dire times extended to post-war 1947-48 and not the mid-1930s as the history books will tell you. Historian Stephen Davies contends there are three other persistent myths that rattle the psyche to this day. Tune in as Davies sets the record straight in this edition of Learn Liberty.ARVE Error: need id and provider
College Costs Soaring
The cost of a college education continues to blast through the roof, burdening students and their families. American University economics professor Daniel Lin says there are two major factors contributing to the skyrocketing costs: supply and demand and government subsidies. Join Lin in this edition of Learn Liberty as he searches for a solution.ARVE Error: need id and provider
The Best is Yet to Come
Bryan Caplan, professor of economics at George Mason University, says there’s no need for so much gloom and doom when it comes to the state of the world. “Human beings dwell on problems, failures and tragedies, and take solutions, successes and triumphs for granted,” says Caplan, who refers to the phenomenon as pessimistic bias. But with all of the amazing economic gains in the last 100 years, Caplan says the big picture is still very sunny. In this edition of “Econ Chronicles” on Learn Liberty, Caplan explains.ARVE Error: need id and provider
Specialization and Trade
Professor Art Carden, from Samford University in Birmingham, Ala., is able to mow his lawn, build a fence, and install a faucet all at one time. How? He does it by employing others to do this work for him. He uses the money he earns doing what he does best and hires people to do this work for him because that is what they specialize in doing. This is an example of specialization through trade. H/T Learn LibertyARVE Error: need id and provider
Is War Ever Justified?
Most wars seem to create costs that far outweigh their benefits, but is war ever justified? In this Learn Liberty debate, professors Bryan Caplan and Jan Ting disagree. Caplan argues that pacifism should be the U.S. policy as the costs and benefits of war are too difficult to predict and innocent lives are almost certainly going to be lost. Ting argues that there are occasions in which war is necessary, such as against ideological or religious perspectives that cannot be reasoned with. He uses World War II as an example when U.S. military intervention did more good than harm.ARVE Error: need id and provider