Description

If you were alive in the 1780s, you got to witness the first major economic revolution of the modern age. The steam locomotive burst onto the scene, and the labor force began a steady move away from agriculture.

By the 1870s, the Industrial Revolution was in full force. Urban factories had replaced rural farms, and American life was more connected than ever.

Then the car and the airplane showed up at the start of the 20th century. And, between the 1970s & 1990s, the internet roared into the world.

Each of these major innovations fundamentally changed the economy.

In every case, entire industries vanished overnight as new innovations transformed people’s lives.

But some people were ready for it. They positioned themselves to profit immensely in the new world because they saw the changes coming and they prepared for them.

We are on the cusp of another massive transformation in the global economy. Widespread automation and artificial intelligence will create brand new industries. But it will also destroy. Anything that can be automated will be automated.

What will this mean for you? Are you going to be caught with your pants down, dependent upon someone else to bail you out?

Or will you be one of the powerful few who controls your own destiny?

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Intro music by Nick White, producer of The Statist Quo.

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discussions

  • The long range vision of a monarch is like that of a private property owner who has a vested self-interest in making sure that the nation remains wealthy. A just monarch is keenly interested in making sure that the citizens are cared for since it is their loyalty that makes the monarch viable. The Constitutional part is key. The monarch is not the principal director of governmental affairs but he or she is the protector of the Constitution, guarding against socialism and fascism and the fallacies of democracy. Democracy, is the rule of the people but it is exceedingly short-sighted and leads to the plunder of the wealth of the nation to appease the politicians who are short-run caretakers intent upon enriching themselves for the short duration that they are in power. As you can see, just like a monarchy is similar to a private property owner, democracy is similar to mob rule with a kingpin mobster in charge. They try their best to amass enough power to be able to challenge the other kingpin mobsters (called Democrats or Republicans in the U.S.) all the while enriching themselves and their kinfolk (political and corporate leeches). It is a form of nepotism.

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  • the following text was lifted from this page: http://freedomfest.com/freedomfest-cash-vault/   $50,000 American Dream Award to the Best Business Idea of 2015 We have something new and exciting at next year’s big show: the first American Dream Award, a “winner take all” cash prize of $50,000 to the entrepreneur who comes up with the best new product or business idea at FreedomFest. This will be a worldwide competition: the top 100 entrepreneurs will be invited to present their business plan or product in the FreedomFest Ca$h Vault at Planet Hollywood, where attendees can review their ideas and invest if they so choose. Then the top four finalists will make their case before our premier panel of FreedomFest judges to determine the winner of the $50,000 prize. The invited judges are Steve Forbes, John Mackey, Peter Thiel, and Donald Smith, all experienced business leaders. And all attendees will get to vote as well, using the FreedomFest APP, so be sure to be in the room for this on the final day of FreedomFest. Two successful entrepreneurs, Brian June and Tom Matzen, are in charge of the FreedomFest Ca$h Vault. Using the FreedomFest app, attendees will also help them determine the top four finalists to go before the FreedomFest judges, with a chance to meet them and here their pitch during FreedomFest. Democratic capitalism at work! Brian and Tom will guide you through the entire process. Make your dreams come true. If you have a for-profit business in progress or on the drawing board, sign up at www.freedomfestcashvault.com. Special Note: Last month we met up with Barbara Corcoran, one of the members of the popular Shark Tank TV show, and told her about our idea, and she loved it. It was she who came up with the name, “The American Dream Award.”  Thanks, Barbara!

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  • So I’m about halfway through “Bureaucracy” by Ludwig von Mises. It’s my first time reading it, but I can imagine that many here have read it, maybe even multiple times. I’d like to discuss a central point of the book—which has more than one component—beginning with the claim that there is a categorical difference between profit-driven institutional management and bureaucratic management. This is fairly uncontroversial to me. Seems the bureaucrat’s fundamental aims are quite distinct from a profit-seeker, but maybe you guys have more to say about this. Second, and this is where there will likely be disagreement, is the question of whether ANY agency or institution in society, by its nature, is better suited to the bureaucratic type of management. Is Mises correct when he states that a police agency, for example, works best (or at all) under bureaucracy? Does his small-state liberalism blind him from the potential of voluntary markets in such a service, or does he maybe have a “public goods” type of argument in mind here? As Mises indicates, bureaucracy is required for those goods/services in society to which no market price applies. Do you think it’s simply mistaken that no price could prevail? Or maybe one might say that such a good/service should not be produced at all? Obviously Mises disagreed with the anarchists (like Rothbard) on a lot of issues, but I’m curious what you guys think here. What is it about a service like “police” that makes the profit-loss system inappropriate, and bureaucracy desirable? (This is my first “discussion,” forgive me if I’ve broken etiquette anywhere, still getting the feel for this place.)

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