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Hayek on Socialism (3:23)
It's a good segment. Socialists (many videosifters included, such as @ChaosEngine & @enoch) seem to be convinced that either they themselves know all the facts (i.e., narcissism?) or that the "rulers" know all the facts, or that the "majority of the people" know all the facts.
While it may be true that the masses, as a collective of course, are even more intelligent than any individual on his or her own, it is true only when individuals among the masses are acting and thinking independently of one another (i.e., pursuing their own interests as best that they themselves know how to do) and not when they are under the sway of one form of demagoguery or central planning or another.
Political democracy shows the masses in all their foolishness, while market democracy (i.e., anarchy) shows them in all their wisdom. I think it is this distinction that illuminates the discrepancy between the theory of democracy and the practice of democracy.
(Moreover, it seems that, when listening to Hayek -- or Milton Friedman or Rory Sutherland -- one gets the impression that one is listening to a highly intelligent individual. This is quite different from listening to someone like, say, Paul Krugman and other so-called "economists," who are in truth would-be pundits and polemicists and not at all cognizant of the underlying postulates that support their arguments.)
enoch (Member Profile)
http://videosift.com/video/Rory-Sutherland-Perspective-is-Everything
ChaosEngine (Member Profile)
http://videosift.com/video/Rory-Sutherland-Perspective-is-Everything
Ludwig Von Mises - Liberty and Economics
Rory Sutherland: 'Perspective is Everything' has been added as a related post - related requested by Trancecoach on that post.
Embed Players not aligned properly? (Sift Talk Post)
Here are a couple that I have run into tonight:
http://videosift.com/video/Financial-Bailout-Was-A-Lie-The-Real-News-Covers-AIG
http://videosift.com/video/TED-Talks-Rory-Sutherland-On-The-Importance-Of-Small-Things