“A historian writing 100 or 200 years from now might well say, ‘You know, there was this little...

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Santi reports: Argentina

Transcript of “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little...

Page 1: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Santi reports: Argentina

Page 2: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 3: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 4: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Joel reports: What are the DJIA, S&P and NASDAQ indices?

Page 5: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 6: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 7: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 8: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 9: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 10: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

MLA: 100% Compliance

Page 11: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 12: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.
Page 13: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Walter Williams

“A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed for maybe 200 years, where people were free from arbitrary abuse and control by government and where there was a large measure of respect for private property rights. But then it went back to the normal state of affairs.”

Page 14: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

So what did we learn in Chap. 14: “An Overview” of Time & Risk?

Page 15: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Financial Institutions

Page 16: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Financial Institutions

Financial institutions such as banks allow vast numbers of people who don’t know each other to use each other’s money

Page 17: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Financial Institutions

Financial institutions such as banks allow vast numbers of people who don’t know each other to use each other’s money

Banks, S&L, Credit Unions assume responsibilities for assessing risks, and making loans to individuals and businesses

Page 18: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Financial Institutions

Financial institutions such as banks allow vast numbers of people who don’t know each other to use each other’s money

Banks, S&L, Credit Unions assume responsibilities for assessing risks, and making loans to individuals and businesses

Societies without such institutions are usually poor

Page 19: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Time and Money

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Time and Money

Whoever has ability to delay, has ability to impose costs

Page 21: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Time and Money

Whoever has ability to delay, has ability to impose costs

Environmentalists, preservationists, government bureaucracies, other third parties specialize in this

Page 22: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Time and Money

Whoever has ability to delay, has ability to impose costs

Environmentalists, preservationists, government bureaucracies, other third parties specialize in this

Economic consequences often take time to develop, enabling politicians to escape the consequences of their actions

Page 23: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Time and Money

Whoever has ability to delay, has ability to impose costs

Environmentalists, preservationists, government bureaucracies, other third parties specialize in this

Economic consequences often take time to develop, enabling politicians to escape the consequences of their actions

Page 24: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Time and Money

Econ policies are often discussed in terms of the goals they proclaim, rather than incentives they create

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Assignment for February 2

Read interview with Walter Williams in Wall Street Journal (link will be on Intended Consequences)

Page 26: “A historian writing 100 or 200 years from now might well say, ‘You know, there was this little historical curiosity that existed.

Assignment for February 2

Read interview with Walter Williams in Wall Street Journal (link will be on Intended Consequences)

Write a 350-essay: You are POTUS (ok, all-powerful POTUS) for a week. What things would you do to improve the lives of African-Americans? Use full Sowellian thinking; your opinions are welcome, as long as you can back them up with Dr. S’s theorem


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