I sometimes get annoyed by this guy for his leftism. He presents some interesting thoughts here. I share his skepticism of Ayn Rand.
https://www.youtube.com/watch?v=8kWjJPQXCyc
Capitalism is often used as a pejorative. I think that the correct term is a "free market", meaning that you are free to make choices. The opposite of a free market is different degrees of tyranny.
This notion of deregulation in 2008 is inaccurate. There were far more regulations in 2008 than in 2000. Part of that regulation was the Community Reinvestment Act, which was a real thing, requiring banks to lend to people who were not otherwise creditworthy. Since Government Sponsored Entities (GSEs) were buying up most of the loans, this removed risk from the loan market. Banks aren't normally in the business of making bad loans until the government gets involved.
https://www.youtube.com/watch?v=8kWjJPQXCyc
Capitalism is often used as a pejorative. I think that the correct term is a "free market", meaning that you are free to make choices. The opposite of a free market is different degrees of tyranny.
This notion of deregulation in 2008 is inaccurate. There were far more regulations in 2008 than in 2000. Part of that regulation was the Community Reinvestment Act, which was a real thing, requiring banks to lend to people who were not otherwise creditworthy. Since Government Sponsored Entities (GSEs) were buying up most of the loans, this removed risk from the loan market. Banks aren't normally in the business of making bad loans until the government gets involved.
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