Hans Rosling as a "Myth Buster" on the issue of Child Mortality Rates. Worth a couple of minutes of your time.

Here is Hans Rosling "clarifying" the issue of historical Child Mortality Rates around the world. 

This is really terrific!  Watch and Learn.  The world is getting BETTER in so many categories of quality of life. Yes, even for the most poorest amoung us.

Video: The Miracle of the Pencil...And everything else...

In posting just before this one I extolled the virtues of the Capitalism and Creative Destruction (by implication) through a high tech device---a Smartphone.  Now, I would like to do the same with a
very low tech device---a Pencil!

Here is a nice video (about 6 minutes long) illustrating the Miracle of the Pencil and how it comes to the marketplace.  Innumerable resources and activities have to be co-ordinated to create such a simple thing at such a low price.  Look at a pencil, then look at EVERYTHING else around you.  Think about the effort it took to get those things within your reach. 

I dont think the word miracle is that far-fetched...

HT: Cafe Hayek and the links from there...

A 1980's-ish rap/dance video by a group of middle class suburban 6th graders. For entertainment value it does not get any bettter...

A fun video to watch for new students to the subject of economics. A 1980's-ish rap/dance video by a bunch of 6th or 7th graders. Warning: The song WILL be stuck in your head for the day! Worth a watch all the way to the end.

Nice video showing advancement in Robotics. How many jobs is this GOING to eliminate OR (gasp!) create?

Below is an awesome video (HT: Carpe Diem) illustrating an advancement in robotics and its potential application to everyday life---industrial and personal. What will be the effect on employment when this technology becomes routine in daily life? I see the potential for creating instances of "structural unemployment" in the marketplace---people losing jobs to machines that can perform the same tasks as a worker. It is easy to see the jobs that might be lost and other costs this technology might impose on society. However, what about the "unseen" benefits of this technology on society and even on employment? Extra credit for good answers.

Look at your phone then look at this advertisement for a cell phone from 1989...My how things have changed!

The Walmart-ization of America...Video of Walmarts US growth in 26 seconds...

The Walmart-ization of America...Walmarts US growth in 26 seconds...HT: Carpe Diem

Short video explaining the link between Economic Freedom and Standard of Living. So simple, yet difficult to achieve...

HT: Division of Labour

Creative Destruction by way of the Smartphone---I am in awe of technology and its potential

Being of "a certain age", I pause everytime I see something like this and think about how technology has changed in a relatively short period of time.  Look at your phone for second and be reminded of the "back story" reason for its existence. It is a simple device---now. But the road to its simplicity is paved with lots of reseach and development, trial and error, labor and other resources.  What used to take many separate devices (TV, radio, computer, telephone, etc) has been condensed down to something you can hold in your hand and store in your pocket. I am not sure if this has conserved resources or not in its totality, but it certainly seems to have been an efficient and desirable re-allocation of societal resources.  What do you think?  If you disagree, then you have to respond to me with a technology that is at least 40 years old.  Don't call me on my home phone--I don't have one!

HT: Carpe Diem

Oldie but goodie video---SNL Skit "Don't Buy Stuff You Can't Afford"---May be good advice for Congress...

The Chinese are invading the US...The weapon of choice is small appliances. Prepare your bunker (with small appliances from China of course)...

HT: Carpe Diem

Video of an extremely large mall in China that is virtually empty...AND the developer has plans to EXPAND!!! Gee Whizzz...

Video of an extremely large mall in China that is virtually empty...AND the developer has plans to EXPAND!!! Gee Whizzz...

A Haunting Tour Inside One Of China's Massive Ghost Malls

More evidence that THESE are the good ol' days for most of the world?

Click on the link below to see this graphic in video. I clipped two screen shots for illustration.  One shows the fertility rate and life expectancy in 1960 for different parts of the world and the second shows the same variables in 2008.  Notice how dispersed they groupings are in 1960 and how tight (relatively speaking) they are in 2008.  Fertility rates and life expectancy have changed dramatically in 50 years (my life-time) for most of the world.  Seems like evidence that life is better today for most people in the world than ever before, or does it...What do you think???

WATCH: Amazing Video Chart Showing China's Fertility Rate Dropping Off A Cliff

These are a complement to this excellent Has Rosling video supporting the same conclusion...

PBS Frontline Documentary on Haiti and the lack of the rule of law--Really shocking stuff I was not aware of...

I saw this on TV last night...It is about the lack of civil control in Haiti today...As much as I try to keep up with what is going on in the world, I was shocked and dismayed by the extent of the lack of the rule of law and the anarchy that apparently reigns in most of Port au Prince.  It is compelling to watch and worth the time, if it is your cup of tea.  On the bright side, I was heartened by some of the comments from Haitians and their desire to be self-sufficient.  Many believe the relief efforts actually HURT the re-building of the country. They ALL believe the political system is corrupt and is their worst enemy. 

What do a toaster and a pencil have in common? Low tech items? I don't think so...

...No one person knows how to make either one, in their entirety.  They are very simple products in their finished condition but complex to manufacture. They require the co-ordination and cooperation of 100's of businesses and 1,000's-10,000's of people to produce and deliver it to you at a low price.  Now look at something tangilble around you and marvel at how it came into being...Miracle? I say yes...

This is a variation of Milton Friedman's narration of Lenord E. Read's "I, Pencil" (See Second Video)

Thomas Thwaites: How I built a toaster -- from scratch

From TED Talks: ""It takes an entire civilization to build a toaster. Designer Thomas Thwaites found out the hard way, by attempting to build one from scratch: mining ore for steel, deriving plastic from oil ... it's frankly amazing he got as far as he got. A parable of our interconnected society, for designers and consumers alike.""

Here is Milton Friedman's discussion of a simple pencil...

Political Attack Ads, Circa 1800---If you think it is bad today...

Marine Corps promotional video for Marines who guard US Embassies---I served at US Embassies in Kingston, Jamaica and Bamako, Mali...

Me--1982. Bamako Mali (2nd from the Right)

Louis CK appreciates Capitalism...Funny video on the things we take for granted (On Conan--the old show)

Here is a longer, audio version of the similar material...

An excellent, short video illustrating the economic progress the world has made in the last 200 years

Well worth a viewing. This gives you a long term view of economic progress...All boats have been lifted,some more than others, but as economists are fond of saying---it is all relative...

President Obama is a Keynesian! No birth certificate will convince me otherwise...

Interviewer asks people at the Stewart/Colbert rally if they thought Pres. Obama was "a Keynesian"...And these people think Tea Party people are stupid? (Note: I am NOT a Tea Party-er).  I just appreciate the  irony...People are obviously not aware of "Keynesian Economics", which the Pres. is most inclined to support.  They think the interviewer is questioning whether or not he is "Kenyan", you, know, from Kenya.  In case you need a primer on John Maynard Keynes and his ECONOMIC philosophy, click HERE. 
By the way, I believe the Pres was born in the old ol' USA (Yes, Hawaii was a part of the US at the time) and is as American as I am...Did I really just feel the need to defend myself?? Meh....

Very funny video on saving "certain jobs"...

This is a very funny video from "The Onion" on saving jobs. BEWARE! The repeat use of the "SH.." word is in this video. Use your judgement as to whether you want to view it



Obama Promises To Stop America's Shitty Jobs From Going Overseas