Capitalism 2.0: Bailouts, Bombs and Blindfolds

We bailed out failed institutions, failed individuals, and failed ideas. Everyone can understand why that is a bad idea. But exactly what did we save? And what can we expect that government-imposed support to cost us in the future?

Ideally, I would like everyone to read this post and to watch the embedded video.

If you decide not to watch the video, all is not lost. After all, each of us recently lived through a serious test of capitalism (our brand of capitalism, that is). And we all have some inkling as to what we are now facing.

Please also watch the Keynes vs. Hayek fight. (You can also watch this Austrian-school analysis but it's entirely optional.)

See you on June 23.

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  • pia

    You did a great job though. I remember someone mentioning a Part II. Hope you can schedule a Part II meetup. :)

    June 27, 2011

  • Jaime L.

    Thanks for coming out. What a vast topic.

    Motivations were brought up during the discussion. I think this is the video that was being referenced (it's excellent): http://www.youtube.com/watch?v=u6XAPnuFjJc&feature=related

    I should have done more of a summary at the end of our discussion. I actually had one more slide. That slide contained a series of policy goals aimed at combating what is undermining our economic sustainability.

    Perhaps we can discuss that another time.

    June 26, 2011

  • Lee

    Very interesting and lively discussion. Thanks Jamie for putting so much thought and effort into the topic and the slideshow.

    June 24, 2011

  • pia

    It was a pleasant discussion. No ideologues, so that was good.

    June 24, 2011

  • Brian

    Very well thought out presentation, and a good discussion afterwards

    June 24, 2011

  • A former member
    A former member

    Great job last night, Jaime! Thank you all for another fantastic discussion at 3RDSPACE. Come back anytime!

    June 24, 2011

  • Michael

    Very interesting discussion and good points. Great format and prep.

    June 24, 2011

  • Ulrich

    very interesting discussion....

    June 24, 2011

  • A former member
    A former member

    Forgivable offense. ;o)

    June 23, 2011

  • Jason B

    sorry. i had this address in my calendar: 3RDSPACE,[masked]/2 Park Ave, San Diego, CA 92173

    and google calendar includes a link to "map" any address with google maps... so that's where San Ysidro came from.

    it seems that this is the address that was listed when the event was first posted. i'm guessing it came from a mapping program that misinterpreted the actual address.

    sorry i didn't cross-reference w/ the event itself before posting my confusion. i'll try to make it! :o)

    June 23, 2011

  • A former member
    A former member

    The map and address on this site is correct.

    June 23, 2011

  • A former member
    A former member

    It's in University Heights. Who said it was San Ysidro??

    June 23, 2011

  • Jason L.

    The map shows University Heights not San Ysidro.

    June 23, 2011

  • Jason B

    Is this really being held in San Ysidro?? That's kind of... far. I didn't realize. I don't think I can make it. :o(

    June 23, 2011

  • Jaime L.

    In light if your assertions, I hereby assign the following video (just the first one): http://www.capitalismwithoutfailure.com/2011/05/keynes-vs-hayek-music-video.html Don't skip that one. It's amazing.

    Can we agree that capitalism is more organic than Communism? I don't think we have to settle the "organic" question to discuss what we are facing. As for #2, I would assert that there are enough self-interested and immoral individuals making important decisions for our purposes.

    June 5, 2011

  • pia

    Thank you for the links. For a substantial discussion, though, I would question the premises in these links: 1) that capitalism is an approach to economics that is 'organic' and 2) that self-interest drives individuals to pursue wealth. Scientific studies are giving us more complex ideas on human behavior and they can't be dismissed, especially when talking about actual events and not ideal systems. Environmental values also redefine 'economics". I also suggest "Inside Job' and "The Money Fix".

    June 5, 2011

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