3️⃣ The Third Way - where does it lead?

Learn Austrian Economics in a fun way!

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[subhuman]

2:49 That is why no one thinks about unintended consequences

[OneGlass]

Many people think that interventions in the market, effected through a top-down approach, will produce the desired results (and only the desired results). While Bastiat has refuted this claim quite a while ago, with Thomas Sowell warning us not to take "the word for the deed", the lesson is often forgotten. This video is a gentle yet entertaining reminder, that promises made by administrators, planners and regulators, will not necessarily have the intended effect...and most likely lead to unintended consequences.

[-gx]

the whole rent controll example is fine providing ther isnt a never ending supply of credit to entice landlords to perpetually buy up propertys like u have seen in nz oz and canada

[bibliusz]

i think that you should make meaty videos like this shorter or make them more structured (FE add sections) in order to get more views

[frstmourn]

this has nothing to do with "third way" economics and politics

[valerielepage]

Where do i find the short story of Kzysztof Rybinski ?

[DistributistHound]

This is socialism, the third way is related to distributist models, distributism is different to the socialist approach

[economicsinaction]

Super interesting video, keep up the good work :)

[Anti-CornLawLeague]

If Ludwig von Mises had previously said that socialism was impossible, how could he turn around and say it had come to pass in Britain? If something is impossible, by definition, it can’t come to pass.

[sauermaischeyahoo]

Mr. Atlee's government's nationalization of the Railways, the Coal Mines and the Steel Works was a scam by the wealthy. These industries had been starved of capital during the war (and in the case of the Railways before the war, thanks to the imposition of regulation of the fares they could charge), and after six years of intensive use, they were worn out. The owners of these businesses couldn't re-equip them, because credit wasn't available for them to do so. Therefore, they faced being uncompetitive in the marketplace, with the eventual prospect of bankruptcy. What to do? Why not sell the businesses to the state while there was still value left in them, and thereby hand the problem to the government while disappearing oneself over the horizon with the proceeds, giggling manically?

[mattfinleylive]

This is not the "third way" . "Distributism" is the third way.

[davidhughes]

I think the word "Socialism" has negative connotations to many. It's not useful to use this term to try and vilify any government intervention. There is nothing wrong with a mix of free market and some intervention. Most countries operate with both. A country like Australia, New Zealand, Denmark and many others do well with a combination.

[corvegastarkiller]

Landlords will refuse to fix things regardless of how much they are extorting out of you.

[yuriarin]

is the "third way" label specifically aimed at the Third Way Laborites and Democrats or is it purely incidental?

[pridefulobserver]

what i got is that taken to extreme necesity, socialism will eventually rise no matter what

[codnba]

Nevertheless, it always happens again.Its hard not to become cynical.

[truxton]

People complain that capitalism "does not work", but the truth is that whatever does not work is because the capitalistic system is not allowed to actually function. When the state intervene with rent control, too many regulations like for example "not allowed to build close to the sea", or not allowed to build on this and that land for reasons that is literally unknown to anyone then yes, the system does not work but itæs not because of capitalism but because it's not enough capitalism.

[NelsFofana]

It leads to choose Option C: Deathwish

*Oups ! wrong topic*

[AndreaDAlu]

those examples really make you feel how people are stupid

[larryham]

and my criticism of this soap box of "de-regulation" is the reason why subprime loans were so abundant which eventually caused the housing bubble to burst. De-regulations also allowed those subprimes to be "secure" and "safe", and those debts were sold with regular ACTUAL SAFE debt. When the subprimes ballooned, and the borrowers were unable to keep up with the rising adjusted payments, those loans became default and all the cards of the house toppled over. Although I'm not a fan of price fixing, in a world with finite material and ecological balance being threatened, you have to admit that British intervention helped their country and their economy, as well as with the rest of Western Europe. And the USA was also VERY SOCIALIST as well with FDR's policies investing in people and to the millionaires that agreed to pay higher tax rates in meetings with FDR. Also, ....you are aware George W. Bush's grandfather was a literal pro-corporation fascist who tried to overthrow the government? Well looks like the fascists infiltrated your party, conservatives, because you elected two of his they ARE and REAP BENEFITS of the corporate lobby, and you are spewing out what they told you in their echo chamber.