Welcome to the third episode of Adam and Tyrone's exploration of Economic in Three Lessons by Hunter Lewis! Henry Hazlitt's masterpiece has been upgraded, and here on Haman Nature we will guide you through the entirety of this great new book on economics! (links to earlier episodes below)
00:00 — Intro. Is this Adult Education? Are we eligible for a government grant?
01:09 — Let's read Lesson Two: The Free Price System, Chapter 4: The Role of Profits in Driving Down Prices!
06:43 — Why don't prices seem to "work right" in our current system? Because they aren't free! Also, maybe there was something wrong with that Karl Marx guy!
19:19 — Let's read Lesson Two: The Free Price System, Chapter 5: Who Are The Bosses in a Free Price System?
22:54 — It's the consumer! Ultimately, in a free market, consumers direct production and "dictate" the behavior of producers.
27:59 — Adam underscores the point: Who is the boss? Reality itself, as expressed by consumers.
32:59 — Let's read Lesson Two: The Free Price System, Chapter 6: Spontaneous Order From Free Prices!
37:36 — Real order comes spontaneously from the "bottom up" rather than the "top down".
40:35 — Wouldn't the worst get on top in a free market? Quite the opposite!
45:25 — Outro. Up next: more from Lesson Two: The Free Price System!. Thank you for watching Haman Nature!
Book mentioned: Economics in Three Lessons by Hunter Lewis: s
Part 1 of this series:
Adam's other show: Natural Order Podcast