In the free market, no one can get a penny from you, unless you
voluntarily, give it to them in exchange for a product or
service. The state takes any amount for
any reason and Promises to cage or murder.
Those who resist. Welcome to keep night.
Don't tread on anyone. I want to get into the different
mindset that socialists and Libertarians have with regard to
the economy in general here. I say socialism equals, give us
your property. And Obey us or will murder you.
Another words. If you don't want to chip in,
for the Warfare State, the welfare, state state education.
Well, they don't just allow you to opt out.
They don't say I'm so sorry. We're not meeting your demand.
What else can we do to change? Maybe you'll chip in next year?
How can we increase quality? What else?
Can we do? We're so sorry for providing an
inconvenience service. They say, well, we'll put you in
a cage and if you resist, we will have you shot.
So that is the Out of what I'm getting at.
So Godfather, says, capitalism equals.
Let's turn everything into a commodity for profit.
Not everything people have conversations, people have kids,
people have meetings people, volunteer people engage in
charity. So let's it's not totally
exaggerated regardless of who suffers profit greater than
human life or Health Care. He's assuming that these things
can in no way be Complimentary, there's a lot of ways that
private greed can be harnessed in such a way that it serves the
public good. This is generally, what the
invisible hand is. So if I just look at my desk, I
see a book, a computer, a microphone, and a router, and a
printer, and some pictures and a ceiling fan.
Well, this was not exactly made by the people because they knew
Keith Knight. Don't try it on anyone needed to
make a show. They did it for themselves in
hopes, they could out-compete other people and make money for
themselves. There's nothing wrong at all
with this. In the same way, you know,
people pursuing their own economic interest is no
different than Godfather only tweeting.
What he wants to tweet. Shouldn't we put this up to a
vote about what he should tweet about?
No, it's okay. That people sort of do their own
thing in the market place in the division of labor.
So I said the supermarket offers me food and drinks at a low
price. For profit also Profit just
means when benefits exceed costs.
So you could profit from time spent with family, you could
profit. When you spend 50 cents to go to
work on gasoline and you make a hundred dollars at work that
day. Well, you've profited $99.50.
There's even if you have, you know, anarcho-syndicalism you
have profit. If you have natural law,
resource-based economy, no money.
People will still profit. It's impossible to get rid of.
Let's compare that to what you are willing to offer me and give
me and see if Prophet benefits me or left us.
Wanting to feel good. Gets me fed.
Please list everything you offer me for free.
Thanks in advance. He says, that's not how this
works, buddy, which I knew, but he's not obviously grasping the
implications. He's saying, look at this
terrible thing and I'm saying the things not that It increased
gives millions of people access to products and services at a
low price quality increases prices tend to go down so long
as there's not State interference.
If you look at TVs or microphones or computers or
books prices tend to go down but except in things like, you know,
Healthcare housing or college, where the state heavily
interferes because there's less competition less Innovation and
no voluntary funding. That's not how this works,
buddy. I said in summary profit Seekers
make my life better and you are a parasite advocating theft.
AKA taxation. Take care.
He says LMFAO might want to educate yourself on political
philosophy. You seem completely clueless.
Allah at calling taxation theft, you're a nincompoop.
I said, oh my Pat. I thought it was theft Now.
Give me 20 percent of your money, or I'll have my employees
cage you because surely I mean if it's not theft, There's
nothing wrong with it. Well, then I can do it.
You said, there's nothing wrong with it.
So I'm going to do it and Amazon can do it.
And the Koch, brothers can do it and Hobby Lobby.
Can just go around issuing taxes.
Nothing wrong with it. He says, he says that would be a
bargain. Considering the government,
takes 40 percent of my income and taxes.
Yes. It is actually the same guy.
And the, so let's let's, let's get on to the article.
Social desirability bias versus tourism by Bryan Caplan.
Social desirability bias is defined as a type of response
bias. That is the tendency of survey
respondents to answer questions in a manner that will be viewed
favorably by others. In the Yucatan.
We stayed at several all-inclusive resorts.
These Resorts were a good fit for my family when you're
traveling in a Third world country with four kids during a
pandemic, you want to convenient supply of abundant and tasty
food and enough, variety to please each and every picky
eater me included, since portions were smallish.
We routinely ordered 12 to 15 dinners, for dinner.
All that zero marginal cost, at least in Mexican Resorts, tips
are appreciated, but not expected economically.
Speaking. There's a straightforward.
When when case for these Mexican resorts.
Not only do they make the Taurus happier.
They make the Mexican people happier by providing them with
better opportunities than they have elsewhere in the Mexican
economy. If you reconsider this verdict
through the distorted lens of social desirability bias,
though, a radically different picture appears before your
eyes. Once you forget economics, you
could easily describe the resort experience in the following
sorted way, a bunch of rich. Under show up in a poor country
and take advantage of the locals desperate, poverty, the
foreigners, relax in the Sun and stuff themselves on fried fish
and casket an M&M while the poor Mexicans.
Wait on them hand and foot the Mexicans Toya, long hours for
low pay while a rich foreigners cavalierly organ, Margarita
after Margarita, tequila after tequila, the rich foreigners,
don't even bother to pick up after their Fat.
Lazy selves, everyday poor women of color, clean their rooms and
make their beds. Most of the foreigners treat the
workers like inferiors with a typical attitude somewhere
between demanding and rude yet. No matter how rude, the gets
maybe they're impoverished workers are required to kiss up
to their guess, expressing warmest.
Regards for foreigners who have never spent a single day in
poverty. Is in the job description.
And at the end of each meal, the workers can Even count on a tip.
Now, suppose Mexican law, prohibited such Resorts and you
wanted to end the ban. Just imagine how easily The
Defenders of the status quo could demagogue.
Demagogue is defined as a leader who obtains Power by means of
impassioned appeals to the emotions and prejudices of the
populace. These Resorts allow Rich
foreigners to exploit poor Mexicans back to this example.
Yes, someone is profiting and benefiting from Surplus value.
So what I'm benefiting because I get something in exchange,
whether its food, Drink a job a product or service.
It's nothing terrible about what's going on here.
It's a another win-win situation.
These Resorts allow Rich foreigners to exploit poor
Mexicans. They are an affront to decency
to dignity. Why should we let it rich
foreigners Gorge themselves? While innocent Mexican children.
Go to bed. Hungry, Mexicans deserve, good
jobs, not this basura. So in other words, just as in
the case of hey, yeah, they're probably a fitting but they make
my life better off. And you sir are offering me
nothing. Either offer me, nothing but
pronouns and by oh God, no just BLM, you sir offer me, nothing.
So you are worse than them. What you can do is offer me
something in exchange since you're very passionate about it,
but their response is to either Outlaw jobs that are low paying
or in quote, bad conditions, but if they don't have any other
opportunity for you, Go to well then they're just restricting
your right to engage in something.
Voluntarily. The result of this demagoguery
naturally would be to prevent Mexicans from bettering their
condition. Bettering.
What a great concept. It captures the idea of
improvement without falsely promising, that the end result
will be good in absolute terms. The key economic Point, Banning
Resorts saves. No Mexican children from Hunger.
Banning Resorts would rather cause Mexican children to be
hungry by depriving their parents of the Jobs, they can
get. So not purchasing Third World
products. Doesn't mean those people in the
third world working. These terrible jobs are now
Rich. It means they are worse off than
they otherwise. Would, they usually either go
into prostitution or die of starvation?
The reason why Mexicans toil in all-inclusive resorts despite
the obvious drawbacks is that there are other prospects are
worse often. Much worse.
Just talk to the guy, desperately peddling, straw,
hats on the beach at this point. It's tempting to enthuse.
Let's just have a dialogue about this.
The demagogues have their view Economist have theirs.
Let's try to reach a consensus to this.
I once again, say dialogue, we don't need no.
Stinking dialogue. Dialogue hand, social
desirability bias, a massive home field advantage.
Far better to let observe. Choices Prevail over mere words.
Keyword is choices, were still respecting the self-ownership
principle of parties involved. Still.
How can Rich foreign tourists be happy at their resorts to truth.
Be told the vast majority are like almost all human beings
selfish and oblivious. This I don't think is anything
terrible. Adam Smith always said, in a
theory of moral sentiments, four million people across the
planet. Siddharth died by tsunami.
You might be sad a little bit. But you you'd go on after, you
know, of a couple hours. Maybe a day or two, but if you
lost your pinky finger and it was cut off, that would be such
an inconvenience. You'd constantly mourn over it
all the time. And I don't know if that's
necessarily being selfish and oblivious and uncaring to have
you know, some sort of self-interest Kaplan continues
and that's Largely for the best. If the tourists consciences pain
to them, their main reaction would be to stay home.
Not to come and tip generously. What about me?
I may be just as selfish as the rest of the torus Cuts in social
sciences. My life.
I can't be oblivious to any social world around me.
Would keeps me feeling comfortable.
Honestly is the faces of the workers even when they're off
the job. Most of them seem quite content.
Well, I wouldn't want to Have their jobs.
The magic of hedonic adaption allows even humble Resort.
Employees to feel pretty good about their lives.
That's not just psychological theory.
It's observed fact. When he's talking about here is
hedonic adaption is the observed tendency of humans to quickly
return to a relatively stable level of Happiness, despite
major positive or negative events or Life Changes.
According to this. Every as a person makes more
money, expectations and desires rise in tandem, which results in
no permanent gain to happiness. The broader lesson as I tell my
kids at a young age, many things in life sound bad, but our good
Rich, foreigners. Living it up in the third world
is one of those things and the list goes on and on.
Thank you for watching Keith Knight.
Don't tread on anyone.