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Yaron Brook on Capitalism, Question 1 - Ayn Rand Institute



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This question addresses how interest rates can be kept in check without the Federal Reserve. From the Q- &-A period of a lecture titled "Why Unregulated Laissez-Faire Capitalism Is the Only Moral Social System," delivered at the University of California, Irvine on April 14, 2008.
Yaron Brook is president and executive director of the Ayn Rand Institute in Irvine, California.


Tags for this video: Ayn Brook Capitalism Depression Dollar Economics Fed Federal Gold Great Institute interest Rand Reserve Standard Yaron

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I don't see it sink ... ( 3 months ago by SatanicCod)
I don't see it sink. Canada ran with a dollar worth .70$US for decades. During those times, we manufactured products on par with US quality and made a nice profit with it. Right now, the Canadian dollar is on par with the US. This means that we are losing huge market shares in the manufacturing department. It also means that many importing goods are now more expensive in the US. This also means that exporting is a must and that China is taking for it's cold. Can't pull that stunt with gold.
The current US ... ( 3 months ago by Jocke1776)
The current US dollar fundamentally takes its value from one thing alone: the law. It's illegal not to accept "legal tender" notes in the US. Two parties can't even negotiate that away and get such a contract protected by the courts. If the law would disappear, the dollar would completely collapse. Once the law is there, sure, the value of the dollar is based on different factors, primarily the relationship between the money supply and the output of production. I'm done now need to go, adios..
Thanks for pointing ... ( 3 months ago by legendre007)
Thanks for pointing that out. :-)
Fuck Ayn Rand, ... ( 3 months ago by SkitISTkreig)
Fuck Ayn Rand, fucking homophobic bitch. If she is a so called individualist then why does she hate gays. Shouldn't they be allowed to what they want because there an individual's just like her. That just proves that she is a egotistic cunt. But Laissez-faire capitalism is a better for of capitalism in my eyes, even though capitalism in general is fucked. I'm not a socialist or communist either. But a so called free market economy is naturally narcissistic.
1. You are not an " ... ( 3 months ago by alciadanet)
1. You are not an "individualist" if you love all people equally.
2. She never endorsed any legal action against (what she saw as) immoral behavior.
3. No, you're not a socialist or communist, you're just very ignorant.
If the 10th curreny ... ( 3 months ago by alciadanet)
If the 10th curreny gives people a headache there will be only 9 different currencies.
If the 9th curreny gives people a headache there will be only 8 different currencies.
etc.
Who are you to (politically) decide what other people want?
lol, too bad i dont ... ( 3 months ago by SkitISTkreig)
lol, too bad i dont believe what i said, its referred to as a joke. youtube is so easy to piss people of about the stupidest shit
She thought ... ( 3 months ago by shovelcharge)
She thought homosexuals were personally disgusting, she didn't necessarily think they were purely immoral or worthy of being hated. She did believe that gays have the right to be gay and do their business.
An astounding ... ( 3 months ago by seditionape)
An astounding egotist with base knowledge. Tripe ramblings of the atypical economic echo chamber. STFU. ([first] One airline in a touted capitalist system is hypocrisy on stilts)
I am sure an former ... ( 3 months ago by shovelcharge)
I am sure an former professor of finance has base knowledge He didn't say he supported a single airline.
"Former" is the ... ( 3 months ago by seditionape)
"Former" is the operative here. He did say he supports the the ideology of a single airline. "Most likely governmental" The guy is an over zealous moron. He knows nothing. A favourite line would be. "What if the federal reserve screws up?" Slurring idiodic bullshit fed down through the most mediocre grapevine. Later talks about anti-semitism vs. altruism. This is embarassing!! Let me know when thye education starts eh?. Professor my ass. Fuckin JOKE
No, you are wrong. ... ( 3 months ago by shovelcharge)
No, you are wrong. I quote: "there is no need for the federal reserve, anymore than there is a need for a national airline" He talks about antisemitism vs. altruism!? Oh my God! The horror! That is clear proof of "Slurring idiodic bullshit fed down through the most mediocre grapevine." Thanks for the clear proof provided with all of your points.
Do you have ... ( 3 months ago by dclewis)
Do you have anything to say aside from fallacious ad hominem "arguments"?
I don't think you ... ( 3 months ago by Philosophista)
I don't think you even understood half the arguments he was making, given that you think he supports "the ideology of a single airline". In fact he said the opposite.
My mistake Thats ... ( 3 months ago by seditionape)
My mistake Thats true. I fucked up!... (jumped to an opinion without realizing the metaphor)... (although) As rapacious and corrupt as the federal reserve is, controls are required to eliminate usury as seen in the savings and loans banks run amuk with junk bonds and faulty loans. As bad as the system is, I feel it's the best of the worst
Antisemitism is not ... ( 3 months ago by seditionape)
Antisemitism is not in contention with altruism. This is a mis-nomer. A ridiculous statement?? If a race wants to play victim to sorted history it has nothing to do with laws created to snuff out criminal behavior of any class or race. This all comes back to usury and steps taken to eliminate oligopolies or the monopolies created from economic dominance gathered through unregulated capitalism,and all of the fiscal crimes that stem from these things
To my understanding ... ( 3 months ago by jtorresguevara)
To my understanding, since I'm trying to learn and get informed on economics, a national interest rate ultimately hurts all business and individuals.
It doesn't take into account a person's economic condition. If the rate's too high, people can't take loans and if it's too low, you create inflation.
Interesting that ... ( 2 months ago by pongespob)
Interesting that Alan Greenspan, who got his objectivist input directly from Rand, reached such a radically different conclusion....Thoughts?
he stopped being an ... ( 2 months ago by shovelcharge)
he stopped being an Objectivist a long time ago.
Greenspan will not ... ( 2 months ago by ispiffey)
Greenspan will not be the last to succumb to the lure of power and privilege.
Greenspan wrote an ... ( 2 months ago by derfy26)
Greenspan wrote an essay defending the gold standard in the 60's. Later, he tried to hide this essay when he became chairman and sold out.
The true moral of ... ( 2 months ago by torres585)
The true moral of the story is that it is IMPOSSIBLE for one man or a group of bureaucrats to regulate a huge complicated capitalist system of contracts, goods and services. Whenever the government does good for one it destroys another. As for monopolies in a capitalist economy, they wouldn't exist. Monopolies happen because government helps those businesses out with extra money thereby screwing someone else.
yaron understands ... ( 2 months ago by garyowen4ever)
yaron understands the principle of the reasonable man, if you like him try peter schiff, brian wesbury and the dean himself, mr. billionaire, JIM ROGERS. unless you are a former fed official, don't bother me, take it or leave it. he's an insightful dreamer, an outspoken fed critic and i love the guy.
In the last twenty ... ( 2 weeks ago by Marly61)
In the last twenty years Latin American growth has slowed, inequality has increased and the debt burden has grown. As I write this, Argentina, which was a few years ago the poster child for neoliberalism, is in chaos. If democracy is defined as the capacity of people to get rid of an unpopular government, Argentina qualifies. But the brutal reality is that the neoliberal failure
—from causes both domestic and foreign—has destroyed so much of Argentina's economy that the prospects for



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