Why Andrew Yang’s Economics Fail

Democratic Presidential Candidate Andrew Yang has been rising in popularity lately, particularly due to his support of a Universal Basic Income (UBI)/Freedom Dividend and a Value Added Tax (VAT). On February 12th, 2019, Yang appeared on the Joe Rogan Experience Podcast to explain his policy views. In this video, I debunk the Keynesian assumptions within Yang’s policies and demonstrate why his proposals cannot improve the economy in the long term.

Hashtags: #YangGang2020 #Yang2020 #FreedomDividend #AndrewYang #politics #government #UBI #VAT

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Original Video:

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Citations/Source Material:

Chen, S. A. (2014, October 29). Five Jobs That Transformed America. Retrieved March 20, 2019, from https://blogs.ancestry.com/cm/five-jobs-that-transformed-america/

Farm Population Lowest Since 1850’s. (1988, July 20). Retrieved March 20, 2019, from https://www.nytimes.com/1988/07/20/us/farm-population-lowest-since-1850-s.html

Hazlitt, H. (2017, June 12). Government Guaranteed Income is Not a Solution. Retrieved March 20, 2019, from https://mises.org/wire/government-guaranteed-income-not-solution

Why Alaska’s Experience Shows Promise for Universal Basic Income. (2018, May 10). Retrieved March 20, 2019, from http://knowledge.wharton.upenn.edu/article/alaskas-experience-shows-promise-universal-basic-income/

De Rugy, V. (2012, June 04). Hauser’s Law: This Reality Isn’t Negotiable. Retrieved March 20, 2019, from https://www.nationalreview.com/corner/hausers-law-reality-isnt-negotiable-veronique-de-rugy/

Sowell, T. (2014). Basic Economics. New York: Basic Books.

Gramlich, J. (2018, May 02). U.S. incarceration rate is at its lowest in 20 years. Retrieved March 20, 2019, from https://www.pewresearch.org/fact-tank/2018/05/02/americas-incarceration-rate-is-at-a-two-decade-low/

What is Universal Basic Income? (2019). Retrieved March 20, 2019, from https://www.yang2020.com/what-is-ubi/

Nikiforos, M., Steinbaum, M., & Zezza, G. (2017, August). Modeling the Macroeconomic Effects of a Universal Basic Income. Roosevelt Institute. Retrieved March 20, 2019, from http://rooseveltinstitute.org/wp-content/uploads/2017/08/Modeling-the-Macroeconomic-Effects-of-a-Universal-Basic-Income.pdf

Mani, A., Mullainathan, S., Shafir, E., & Zhao, J. (2013, August 30). Poverty Impedes Cognitive Function. Retrieved March 20, 2019, from http://science.sciencemag.org/content/341/6149/976.abstract

Rothbard, M. N. (2010, April 22). The Value-Added Tax Is Not the Answer. Retrieved March 20, 2019, from https://mises.org/library/value-added-tax-not-answer

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Alexandria Ocasio-Cortez (AOC) and the New Spectrum of Privilege

Marxists have long trotted out the bourgeoisie/proletariat dichotomy as an explanation of how everyone is part of a class conflict as old as history. However, when the poor didn’t rise up and overthrow the capitalist class as Marx predicted, they had to retool their ideology.

Alexandria Ocasio-Cortez recently went on The Intercept and explained how the new spectrum of privilege has replaced Marx’s original explanation for the modern socialist. However, the ideology remains as false and designed to manipulate fear as ever. Myself and Nightshift10000 debunk her yet again.

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Original Video:

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Citations/Source Material:

Karl Marx and Frederick Engels The Communist Manifesto: https://www.marxists.org/archive/marx/works/download/pdf/Manifesto.pdf

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What is “Privatization” and Should We Privatize Schools?

The YouTube channel Knowing Better recently released a video called “Privatizing Public Services | Prisons and Schools.” The video argued that public services should privatized, in particular, by showing that charter schools are under performing compared to public schools. However, the relevant question is, what does it really mean to privatize something, and does the government contracting an otherwise private business constitute privatization? I content that the answer is no.

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Original Video:

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Citations/Source Material:

Blumenfeld, S. L., & Newman, A. (2015). Crimes of the Educators. Washington, D.C.: WND Books.

Braun, H., Jenkins, F., & Grigg, W. (2006, July). Comparing Private Schools and Public Schools Using Hierarchical Linear Modeling. Retrieved March 6, 2019, from https://nces.ed.gov/nationsreportcard/pubs/studies/2006461.asp

McMaken, R. (2017, August 09). The Plan to “Privatize” the Afghanistan War Doesn’t Privatize Anything. Retrieved March 6, 2019, from https://mises.org/wire/plan-privatize-afghanistan-war-doesnt-privatize-anything

Rockwell, L. H., Jr. (2004, October 06). Government Contractors versus Real Business | Llewellyn H. Rockwell Jr. Retrieved March 6, 2019, from https://mises.org/library/government-contractors-versus-real-business

Council for American Private Education – Private School Facts. (2019). Retrieved March 6, 2019, from http://www.capenet.org/facts.html

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Riley Dennis Fails on Universal Basic Income (UBI)

I’ve debunked Universal Basic Income (UBI) in the past. However, when Hey Dude77 pointed out that Riley Dennis had come to its defense, I couldn’t resist the urge to debunk it again.

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Original Video:

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Citations/Source Material:

Freedman, D. H. (2016). Basic Income: A Sellout of the American Dream. MIT Technology Review. 119(4), 48-53.

Schneider, H. (2017). Universal Basic Income—Empty Dreams of Paradise. Intereconomics/Review of European Economic Policy, 52(2), 83-87.

Sowell, T. (2014). Basic Economics. New York: Basic Books.

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The Truth about Amazon HQ2 and New York

Everyone is talking about the #AmazonHQ2 situation. Should New York be offering tax incentives to Amazon? Should Amazon have chosen not to go forward with the deal? In this video, we discuss basic economics and demonstrate yet again that the problems with this deal begin and end with the government.

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Citations/Source Material:

Balfour, B. (2018, March 13). Politicians Are Rushing to Ink Cronyist Deal with Amazon | Brian Balfour. Retrieved February 12, 2019, from https://mises.org/wire/politicians-are-rushing-ink-cronyist-deal-amazon

McMaken, R. (2018, November 16). Why Politicians Love the Amazon Deal | Ryan McMaken. Retrieved February 12, 2019, from https://mises.org/wire/why-politicians-love-amazon-deal

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Anarcho-Capitalists VS. Sovereign Citizens (Patron Request)

At the request of one of my Over Achiever Tier Patrons, this video examines the Sovereign Citizen Movement and how their ideology compares to Anarcho-Capitalism. While sovereign citizens are correct in their assessment that the state is inherently illegitimate, their efforts to assert their sovereignty through legal loopholes and appeals to the founding documents of the United States are unlikely to effect real change in the long run.

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The Sovereign Citizen Movement. (2010, April 13). Retrieved February 12, 2019, from https://archives.fbi.gov/archives/news/stories/2010/april/sovereigncitizens_041310/domestic-terrorism-the-sovereign-citizen-movement

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Time is Wealth: What is it Really Worth?

The popular saying is, “Time is money.” However, fundamentally, real wealth is your time and the different things that can be done with it. This is a crucial point to understand in discussions about what people’s labor and products are “really worth.”

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Citations:

Sowell, T. (2014). Basic Economics. New York: Basic Books.
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Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for -fair use- for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.

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2 Day with 2 Cents (Feb 2, 2019)

On this week’s episode, we’ll be discussing Virginia Delegate Kathy Tran’s abortion bill, Kamala Harris and Cory Booker’s bids for the 2020 Presidential run, Howard Schultz challenge to the Democratic party, and more.

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Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for -fair use- for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.

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Marxist Economic Theory Easily REFUTED w/ Richard Wolff

Joined again by my elite level patron Nightshift10000, we take on Marxist Professor Richard Wolff. Appearing on the Jimmy Dore Show, Dr. Wolff attempted to explain Marxist economics and why they are superior to any other economic systems. It’s a shame he has not historical data to support his assertions, especially since his own students were involved in the failed government of Greece.

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Original Video:

_____________________________________________________________________________________
Citations:

Hansen, H. (2003, July 22). Denmark: A Case Study in Social Democracy. Retrieved January 20, 2019, from https://mises.org/library/denmark-case-study-social-democracy

Heritage Foundation. (2018, February 2). 2018 Index of Economic Freedom. Retrieved January 20, 2019, from https://www.heritage.org/international-economies/commentary/2018-index-economic-freedom

Kristof, N. (2008, December 20). Bleeding Heart Tightwads. The New York Times. Retrieved from https://www.nytimes.com/2008/12/21/opinion/21kristof.html

Sowell, T. (2014). Basic Economics. New York: Basic Books.

Von Mises, L. (1998 [1949]). Human Action: A Treatise on Economics. Auburn, AL: The Ludwig von Mises Institute. Retrieved from https://mises.org/sites/default/files/Human%20Action_3.pdf

What Amazon does to wages. (2018, January 20). Retrieved January 20, 2019, from https://www.economist.com/united-states/2018/01/20/what-amazon-does-to-wages
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Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for -fair use- for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.

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2 Day with 2 Cents (Jan 19, 2019)

This week’s episode discussed the continued government shutdown drama, the left’s attack against Karen Pence, the Gillette advertisement condemning masculinity, and the left’s adoration of drag kids. The weekly hottie was Kat Wonders.

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Logan Bryant: https://www.instagram.com/nailedhands_official/?utm_source=ig_profile_share&igshid=1hpruhxicmeml
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Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for -fair use- for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.

HARASSMENT NOTICE It is not my intention to cause the original video creator to receive any kind of harassment or abuse. It is my intention to provide a counter argument to the claims they have made. While I have no control over the feedback you choose to provide, I ask that you avoid any forms of harassment or abuse.