Recorded in Nashville, Tennessee, on September 23, 2023.
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Home › 6b) Austrian Economics › 6b.) Mises.org › The Corrupt Political Influence on Military Intelligence and Its Fundamental Role in State Propaganda
Published on September 28, 2023
Recorded in Nashville, Tennessee, on September 23, 2023.
2023-07-19
Why do individuals pay higher prices for some goods than others? The common reply references laws of supply and demand, but what are these laws? The answer is found in the law of diminishing marginal utility.
Most economists explain this law by describing the satisfaction one derives from consuming a good such as an ice cream cone. The satisfaction derived from consuming a second cone might be less than the satisfaction derived from the first cone, and so on. Mainstream economics concludes that the more of any good we consume in each period, the less satisfaction, or utility, we derive out of each additional unit, so the price that one is willing to pay per unit also declines.
By quantifying utility, economists can introduce mathematics here to determine the additional satisfaction to
2023-07-15
Stories cannot substitute for historical facts even when people want these stories to be true. With the influence of Black Lives Matter, resurrecting the atrocities of Western colonialism has become fashionable. The death of George Floyd revived a torrent of anticolonialism sentiment in Western societies fueled by resounding demands for governments to atone for the sins of colonialism. Although the colonial legacy of Western powers is tainted by dastardly acts, exaggerations of violence must be condemned. Using history as a political tool only pollutes public discourse in the long run.
Listening to activists is quite different from reading an academic study. Mainstream outlets will inform readers that Europeans committed atrocities in Africa and the West Indies, though the same outlets are
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