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.

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Subscribe to Hey Dude77:

https://www.youtube.com/channel/UCh3H0-VY8b1FbWPqqMjRO6g

Support My 2 Cents:

https://www.subscribestar.com/my-2-cents
https://www.patreon.com/my_2_cents
https://bitbacker.io/user/my2cents/

My 2 Cents Gaming Channel:

https://www.youtube.com/channel/UCYVRaEa249qt4lJn-JyVtGg
_____________________________________________________________________________________
Thanks to my Patrons!

Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw
Nathan Slemp: https://www.last.fm/user/RedHotLizard
Nightshift10000: https://www.youtube.com/user/Nightshift10000
Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/
Poe Poz: https://gab.ai/Poepoz
_____________________________________________________________________________________

Original Video:

____________________________________________________________________________________________
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.

_____________________________________________________________________________________
Start your own BitChute account:
https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:
https://www.minds.com/register;referrer=My2Centz
_____________________________________________________________________________________
To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

SubscribeStar: https://www.subscribestar.com/my-2-cents

BitBacker: https://bitbacker.io/user/my2cents/

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

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.

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Support My 2 Cents:

https://www.subscribestar.com/my-2-cents
https://www.patreon.com/my_2_cents
https://bitbacker.io/user/my2cents/

My 2 Cents Gaming Channel:

https://www.youtube.com/channel/UCYVRaEa249qt4lJn-JyVtGg
_____________________________________________________________________________________
Thanks to my Patrons!

Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw
Nathan Slemp: https://www.last.fm/user/RedHotLizard
Nightshift10000: https://www.youtube.com/user/Nightshift10000
Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/
Poe Poz: https://gab.ai/Poepoz
_____________________________________________________________________________________
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

_____________________________________________________________________________________
Start your own BitChute account:
https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:
https://www.minds.com/register;referrer=My2Centz
_____________________________________________________________________________________
To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

SubscribeStar: https://www.subscribestar.com/my-2-cents

BitBacker: https://bitbacker.io/user/my2cents/

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

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.

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Subscribe to Nightshift10000:

https://www.youtube.com/user/Nightshift10000

Support My 2 Cents:

https://www.subscribestar.com/my-2-cents
https://www.patreon.com/my_2_cents
https://bitbacker.io/user/my2cents/

My 2 Cents Gaming Channel:

https://www.youtube.com/channel/UCYVRaEa249qt4lJn-JyVtGg
_____________________________________________________________________________________
Thanks to my Patrons!

Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw
Nathan Slemp: https://www.last.fm/user/RedHotLizard
Nightshift10000: https://www.youtube.com/user/Nightshift10000
Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/
Poe Poz: https://gab.ai/Poepoz
_____________________________________________________________________________________
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
_____________________________________________________________________________________
Start your own BitChute account:
https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:
https://www.minds.com/register;referrer=My2Centz
_____________________________________________________________________________________
To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

SubscribeStar: https://www.subscribestar.com/my-2-cents

BitBacker: https://bitbacker.io/user/my2cents/

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

Robert Reich: The Big Economic Hoax

Robert Reich of Inequality Media would like you to believe that the reason the national debt is growing is because the rich aren’t paying their fair share of taxes. Not only is Reich ignorant of Hauser’s Law and the other realities pertaining to how much the government can hope to collect in tax revenues, but he also seems ignorant of the fact that under the Federal Reserve system, the government literally has to keep going into debt.

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Subscribe to The Dark Conservatarian:

https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig

Support My 2 Cents:

https://www.subscribestar.com/my-2-cents

https://bitbacker.io/user/my2cents/

https://www.patreon.com/my_2_cents

My 2 Cents Gaming Channel:

https://www.youtube.com/channel/UCYVRaEa249qt4lJn-JyVtGg
_____________________________________________________________________________________
Thanks to my Patrons!

Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw
Nathan Slemp: https://www.last.fm/user/RedHotLizard
Nightshift10000: https://www.youtube.com/user/Nightshift10000
Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/
Poe Poz: https://gab.ai/Poepoz
Nate the Voluntaryist: https://www.youtube.com/channel/UCyCmYVxcEpa7564TJ7zEpVQ
Logan Bryant: https://www.instagram.com/nailedhands_official/?utm_source=ig_profile_share&igshid=1hpruhxicmeml
_____________________________________________________________________________________
Original Video:

____________________________________________________________________________________________

Citations:

Mike Maloney’s Hidden Secrets of Money Episode 4: The Federal Reserve: The Biggest Scam in the History of Mankind:

Syrios, A. (2015, November 23). The Good Ol’ Days: When Tax Rates Were 90 Percent | Andrew Syrios. Retrieved January 15, 2019, from https://mises.org/library/good-ol-days-when-tax-rates-were-90-percent

Why Tax Cuts and Tax Hikes are Fundamentally the Same by My 2 Cents: https://my2centsvideos.com/2018/11/19/why-tax-cuts-and-tax-hikes-are-fundamentally-the-same/
_____________________________________________________________________________________
Start your own BitChute account:
https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:
https://www.minds.com/register;referrer=My2Centz
_____________________________________________________________________________________
To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

SubscribeStar: https://www.subscribestar.com/my-2-cents

BitBacker: https://bitbacker.io/user/my2cents/

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

2 Day with 2 Cents LIVE (Jan 5, 2019)

This week’s episode will be a live broadcast, discussing current events to include the continuing government shutdown, Elizabeth Warren, Alexandria Ocasio-Cortez, and predictions about the economy for 2019.

Remember, 2 Day with 2 Cents will become a permanent live show at the end of the month if we don’t reach the $200 a month goal so if you’re able, please consider donating:

https://www.patreon.com/my_2_cents

____________________________________________________________________________________________

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Support My 2 Cents:

My 2 Cents Gaming Channel:

https://www.youtube.com/channel/UCYVRaEa249qt4lJn-JyVtGg

_____________________________________________________________________________________
Thanks to my Patrons!

Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw
Nathan Slemp: https://www.last.fm/user/RedHotLizard
Nightshift10000: https://www.youtube.com/user/Nightshift10000
Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/
Poe Poz: https://gab.ai/Poepoz
Nate the Voluntaryist: https://www.youtube.com/channel/UCyCmYVxcEpa7564TJ7zEpVQ
Logan Bryant: https://www.instagram.com/nailedhands_official/?utm_source=ig_profile_share&igshid=1hpruhxicmeml
_____________________________________________________________________________________
Start your own BitChute account:
https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:
https://www.minds.com/register;referrer=My2Centz
_____________________________________________________________________________________
To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

SubscribeStar: https://www.subscribestar.com/my-2-cents

BitBacker: https://bitbacker.io/user/my2cents/

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

What Aquaman Teaches about Government

For the first video of 2019, we’re reviewing the DC Comics blockbuster Aquaman. I loved this movie. Not only is it action packed with a great story line, but Amber Heard’s performance makes the film both sexy and a stunning success.

However, much like Black Panther, Aquaman presents the Kingdom of Atlantis as an impossibly advanced society. There is no way a kingdom which is ruled by a hereditary monarchy, where the monarch is chosen in ritual combat, would advance and prosper for thousands of years.

Aquaman is yet another reason to get people thinking about how prosperity and advancement comes from free interaction and free markets.

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Support My 2 Cents:

My 2 Cents Gaming Channel:

https://www.youtube.com/channel/UCYVRaEa249qt4lJn-JyVtGg

_____________________________________________________________________________________
Thanks to my Patrons!

Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw
Nathan Slemp: https://www.last.fm/user/RedHotLizard
Nightshift10000: https://www.youtube.com/user/Nightshift10000
Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/
Poe Poz: https://gab.ai/Poepoz
Nate the Voluntaryist: https://www.youtube.com/channel/UCyCmYVxcEpa7564TJ7zEpVQ
Logan Bryant: https://www.instagram.com/nailedhands_official/?utm_source=ig_profile_share&igshid=1hpruhxicmeml
_____________________________________________________________________________________
Start your own BitChute account:
https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:
https://www.minds.com/register;referrer=My2Centz
_____________________________________________________________________________________
To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

SubscribeStar: https://www.subscribestar.com/my-2-cents

BitBacker: https://bitbacker.io/user/my2cents/

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

The Case for Anarcho-Communism Debunked (w/ Nightshift10000)

Joined again by my elite level patron Nightshift10000, we review a video called “The Case for Anarchist Communism” from the channel Christopher Szabo. Anarcho-Communism is and ideological oxymoron. In such a society, if an individual decided to create a commodity and sell it for a profit, other members of the collective could either use force to stop him or not use force to stop him. If the former, the society is not an anarchy. If the latter, it is not a communist society.

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Subscribe to Nightshift10000:

https://www.youtube.com/user/Nightshift10000

Support My 2 Cents:

Christmas Merch:

https://teespring.com/stores/my-2-cents-holiday-store-2

_____________________________________________________________________________________
Thanks to my Patrons!

Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw
Nathan Slemp: https://www.last.fm/user/RedHotLizard
Nightshift10000: https://www.youtube.com/user/Nightshift10000
Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/
Poe Poz: https://gab.ai/Poepoz
Nate the Voluntaryist: https://www.youtube.com/channel/UCyCmYVxcEpa7564TJ7zEpVQ
_____________________________________________________________________________________
Original Video:

_____________________________________________________________________________________
Citations:

Avrich, P., & Miller, M. A. (2018, December 17). Peter Alekseyevich Kropotkin. Retrieved December 19, 2018, from https://www.britannica.com/biography/Peter-Alekseyevich-Kropotkin

Von Mises, L. (1949). Human Action. Auburn, AL: Ludwig Von Mises Institute.
_____________________________________________________________________________________
Start your own BitChute account:
https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:
https://www.minds.com/register;referrer=My2Centz
_____________________________________________________________________________________
To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

SubscribeStar: https://www.subscribestar.com/my-2-cents

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

The Free Market and Politics: Cornelius Vanderbilt’s Steamboat “Monopoly”

For the second video in this series, I discuss Cornelius Vanderbilt and his activities in New York’s steamboat industry in the early 1800s. Some people like KnowledgeHub claim that Vanderbilt was one of the infamous “Robber Barons.” However, the facts show that Vanderbilt was in fact a savvy business owner who was competing against state enforced monopolies. In this case, that monopoly was Robert Fulton’s Steamboat Monopoly.

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Support My 2 Cents:

Christmas Merch:

https://teespring.com/stores/my-2-cents-holiday-store-2

_____________________________________________________________________________________
Thanks to my Patrons!

Snizzypoo: https://www.youtube.com/channel/UCE_NQ_U4rb5e1obpzwqnIEw
Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw
Nathan Slemp: https://www.last.fm/user/RedHotLizard
Nightshift10000: https://www.youtube.com/user/Nightshift10000
Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/featured
Poe Poz: https://gab.ai/Poepoz
Nate the Voluntaryist: https://www.youtube.com/channel/UCyCmYVxcEpa7564TJ7zEpVQ
_____________________________________________________________________________________

Original Video:

_____________________________________________________________________________________

Citations:

Biography.com Editors (Ed.) (2017, April 28). Cornelius Vanderbilt Biography. Retrieved December 5, 2018, from https://www.biography.com/people/cornelius-vanderbilt-9515195

Entrepreneurs and American Economic Growth Cornelius (Commodore) Vanderbilt. (2017, May 23). Retrieved December 5, 2018, from https://legacy.voteview.com/vanderb2.htm
Sourced from the University of Georgia.

Gordon, J. S. (1993). The Steamboat Monopoly. American Heritage Magazine, 44 (7), Retrieved December 5, 2018, from https://www.americanheritage.com/content/steamboat-monopoly

Hess, P. (2015, August 11). Early Years of Steamboating on the Hudson. Retrieved December 5, 2018, from https://newyorkhistoryblog.org/2015/08/early-years-of-steamboating-on-the-hudson/
_____________________________________________________________________________________

Start your own BitChute account:
https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:
https://www.minds.com/register;referrer=My2Centz
_____________________________________________________________________________________

To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

The Free Market and Politics: How Business and Government Collaborate

In part one of this new series, I explain the difference between a market entrepreneur and a political entrepreneur. This video is in part a response to Knowledge Hub’s video, “The Age When Capitalism Went Too Far,” but more broadly addresses the issue of regulatory capture and how the government interferes in free market operations.

Subscribe to My 2 Cents:

https://www.youtube.com/c/My2CentsVideos

Subscribe to the Dark Conservatarian:

https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/featured

Support My 2 Cents:

https://www.youtube.com/watch?v=TbF6y6kS9b4&t=82s

Christmas Merch:

https://teespring.com/my-2-cents-christmas-merch#pid=2&cid=2397&sid=front

_____________________________________________________________________________________

Thanks to my Patrons!

Snizzypoo: https://www.youtube.com/channel/UCE_NQ_U4rb5e1obpzwqnIEw

Americap: https://www.youtube.com/channel/UCnFkrWVSiPTjuvRmX06_tNw

Lady Cthulu: https://twitter.com/cthulhu_lady

Nathan Slemp: https://www.last.fm/user/RedHotLizard

Nightshift10000: https://www.youtube.com/user/Nightshift10000

Dark Con: https://www.youtube.com/channel/UC7Srtvw7XX1-3i38ZC8eEig/featured

Poe Poz:  https://gab.ai/Poepoz

Nate the Voluntaryist: https://www.youtube.com/channel/UCyCmYVxcEpa7564TJ7zEpVQ

_____________________________________________________________________________________

Original Video:

____________________________________________________________________________________________

Further Reading:

“What is a Political Entrepreneur” by Michael McCaffrey: https://mises.org/wire/what-political-entrepreneur

_____________________________________________________________________________________

Start your own BitChute account:

https://www.bitchute.com/accounts/referral/my_2_cents/

Start your own Minds account:

https://www.minds.com/register;referrer=My2Centz

_____________________________________________________________________________________

To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

Twitter: https://twitter.com/_My2_Cents_

Facebook: https://www.facebook.com/My-2-Cents-273646286687939/videos/

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6

____________________________________________________________________________________________

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.

Tucker Carlson Fails at Capitalism

tucker

Conservative Commentator Tucker Carlson

This weekend I was on a long road trip, and while I drove, I decided to listen to the Daily Wire’s Sunday Special with Ben Shapiro.  Shapiro hosts a different guest every week to discuss various political and social issues, and his guests have included people on both the political left and political right.  This week, Shapiro’s guest was Fox News host Tucker Carlson.

Many conservatives love Carlson’s commentary, and to be fair, I’ve liked how he’s approached some recent political issues.  For example, he was one of the only mainstream news commentators that I know of who actually questioned whether or not Assad was responsible for a chemical attack in Syria this past April.  None the less, I was extremely disappointed with what Carlson had to say on the Sunday Special.

While Carlson claims to be a proponent of capitalism (around the 30:07 mark in the interview he says capitalism is the best economic system he can think of), he openly advocated for one of the most non-free market practices known to history.  Carlson actually thinks the government should outlaw technological advancements in order to “save” the jobs of Americans.

About 29 minutes into the interview, Shapiro asked Carlson about a concern that Carlson raised regarding the prospect of self-driving vehicles in his recent book Ship of Fools.  It’s no secret that from taxi cabs to eighteen wheelers, many Americans drive vehicles for a living.  However, assuming technology continues to advance and artificial intelligence becomes proficient enough, it’s not difficult to see that self-driving vehicles could rapidly replace these drivers on the road.

Shapiro asked if Carlson believes that the government should introduce regulations to prevent this automation from happening, and Carlson said that he would do so without hesitation.  In particular he said,

“In a second.  In a second.  In other words, if I were President would I say to DOT, Department of Transportation, we’re not letting driver-less trucks on the road.  Period.  Why? Really Simple.  Driving for a living is the single most common job for high school educated men in this country in all 50 states.  By the way, that’s the same group whose wages have gone down by 11% over the past 30 years.  The social cost of eliminating their jobs in a 10-year span, 5-year span, 30-year span is so high that it’s not sustainable” (29:27-29:59 in interview).

While I understand this concern in principle, this is yet another example of how neo-conservative economic policies are anything but capitalist and are grounded in the same economic misunderstandings that plague progressives.  To understand why, one must ask the question of how wealth is created in the free market, and why it is that people seek jobs in the free market at all.

So what is the answer to how wealth is created?  In the simplest sense, one could say wealth is created when a person expends time combining labor with resources to produce something useful.  When our ancestors spent their days putting seeds in the ground by hand and then watering those seeds, they did so in order to grow produce that was useful for survival.  By choosing to farm, they demonstrated that they believed that time spent farming was better spent than time spent sitting and doing nothing, and I don’t believe they were incorrect in this assessment.

However, farming by hand took a great deal of time, and producing enough food to feed a large family required that everyone had to pitch in.  A single storm could ruin your crop, not to mention all the insects and other animals that would seek to deprive you of it.  Without modern conveniences such as tractors and pesticides, farming took a great deal of work, far more than it takes today.

But how did tractors, pesticides, and other modern conveniences become a reality?  From the simplest hand tools to the most technologically advanced machines, modern conveniences were also the result of people expending time combining labor with resources.  Someone had to have an idea for how to create something, and then they had to decide that spending time making that idea a reality was worth more than using their time to do something else.

However, with this type of innovation there’s always a measure of risk.  When our ancestors who farmed by hand expended time trying to create tools, that was time that they weren’t spending farming.  The risk was always there that their idea wouldn’t work, and they’d never get that time and those expended resources back.  For this reason, they would be more inclined to experiment with new ideas in times of abundance when the resources they needed to survive were plentiful and required less time and labor.

It’s here that we realize that there’s more to creating wealth than simply expending time combining labor with resources.  What truly creates wealth is not simply a combination of time, labor, and resources but rather finding ways to achieve your desired ends without expending as much capital as you did before.  When a new technology allows one worker to accomplish what it previously took five to accomplish, you can still achieve your desired end, but now you have time, labor, and resources freed up to be used for new endeavors.

Now, on to the question as to why people seek out jobs in a free market.  When a person takes a job, they are choosing to exchange their time and labor for a particular compensation that leaves them better off.  As we just discussed, they’ve decided that the time they spend working is better spent than using that time to do something else.  Given this, it seems intuitive that having more jobs is better than having less, and for this reason, people like Tucker Carlson sometimes advocate that government regulations should be used to maintain conditions where more people are required to accomplish a task than less.

But what this type of thinking doesn’t account for is what new endeavors will become feasible once capital has been freed up.  Returning again to an age of primitive farming, imagine if a farm hand had come to a man working on a new farm tool and said, “Stop that.  If your invention works, we won’t need as many people working in the fields every day.  Don’t you care about the jobs of hard-working farm hands?”

Now, jump ahead to the age of the first automobiles.  Imagine a rancher coming to Henry Ford and saying, “Quit working on that Model T.  Don’t you know how many people make a living raising horses, making saddles, and building wagons?  If your invention works, thousands of people will find themselves without jobs!”

The list of examples could go on, but a search of history will not reveal a period of time where thousands of former employees starved to death due to technology taking their jobs away.  Instead, what we see is that as their time was freed up and they sought new ways to make a living, entirely new industries emerged that no one had even dreamed of as much as a decade earlier.  Do you think farm hands would have been nearly as concerned about the prospect of losing their jobs if they could look into the future and see the internet, smart phones, and drive through restaurants?

A recent example of how increased economic efficiency helps everyone can be seen in the discussions about the effects of international trade with countries like China.  Some people point to the correlation between Chinese imports and the loss of American manufacturing jobs as evidence that the government should intervene with trade restrictions, such as tariffs, to save American jobs.  However, research conducted by the Federal Reserve Bank of Saint Louis found,

“Increased import competition from China leads workers to relocate to other sectors; thus, the share of employment in services, wholesale and retail, and construction increases. The role of intermediate inputs and sectoral linkages is crucial to understanding these relocation effects. Import competition from China leads to decreased production among U.S. manufacturing sectors that compete with China, but it also affords the U.S. economy access to cheaper intermediate goods from China that are used as inputs in non-manufacturing sectors. Production and employment increase in the non-manufacturing sectors as a result. As an example, we found that in the long run, about 50 thousand jobs are created in construction as a result of the China shock” (Caliendo, Dvorkin & Parro, 2018, p. 28).

Admittedly, the prospect of losing one’s job isn’t fun.  There’s always a measure of uncertainty about the future, and many people would like for the government to make that uncertainty go away.  However, if and when it does, it only forces employers to do business in a less efficient manner, preventing the freeing up of capital for other purposes.

Tucker Carlson may believe that government intervention like what he proposes saves jobs, but it actually prevents the creation of newer ones that make better use of the labor.  In the short term, self-driving vehicles may lead to the layoff of many professional drivers, but as the costs of transportation go down and therefore the prices that customers must pay to use those transportation services, there will be more money in the pockets of Americans who pay for transportation and a large pool of workers available to provide labor in new sectors.  This is a recipe for innovation and an improved standard of living for everyone.

Bottom line, don’t discourage innovation with government regulation Tucker.  Embrace it and watch as our society reaches heights we never thought possible.

And that is my 2 cents. Take it for what it’s worth.

Citations:

Caliendo, L., Dvorkin, M. A. & Parro, F. (2018, September 26). Trade and labor market dynamics: General equilibrium analysis of the China trade shock. Federal Reserve Bank of Saint Louis, Working Paper 2015-009F. doi: https://doi.org/10.20955/wp.2015.009

____________________________________________________________________________________________

To follow me elsewhere:

YouTube: https://www.youtube.com/c/My2CentsVideos

Patreon: https://www.patreon.com/my_2_cents

Twitter: https://twitter.com/_My2_Cents_

Minds: https://www.minds.com/My2Centz

BitChute: https://www.bitchute.com/channel/my_2_cents/

Bit.Tube: https://bit.tube/My2Cents

WordPress: https://my2centsvideos.com

Gab.Ai: https://gab.ai/My_2_Cents

Steemit: https://steemit.com/@my2centss/

DailyMotion: https://www.dailymotion.com/My_2_Cents

Link You: https://linkyou.blog/author/my-2-cents/

iTunes: https://itunes.apple.com/us/podcast/my-2-cents/id1300365679?mt=2

PayPal: https://www.paypal.me/My2CentsVideos

Bitcoin Wallet: 1CJ4z5drcgHVvNKKJhANB8NEJur8qKiZHS

Ethereum Wallet: 0xeDa57BB4ac4760f2B977bF4d55d5647685af89e6