00:00    |    
Initial credits
00:06    |    
00:37    |    
01:16    |    
The dynamics of interventionism
Government intervention
Rational economic calculation
The knowledge problem
Mixed economies
07:25    |    
Effects of dynamic intervention
Definition of interventionism
10:02    |    
Presumptions of interventionism
Fix the status quo
Free from political influence
11:52    |    
Austrian political economy
Market process
Government process
16:32    |    
Critiques to government process
Austrian political economy
Knowledge assumption
Quotes Bureaucracy, Ludwig von Mises
Motivational assumption
Public choice
Motivational assumption
Knowledge assumption
The assumption of benevolence
Motive and knowledge assumptions
32:00    |    
Entrepreneurship in the market process
Circumvent interventions
Price ceiling
Credit expansion
39:59    |    
Interventionist process
Retract the intervention
A second intervention
41:46    |    
Effects of interventionism
Direct distortionary effect
Indirect effect
44:56    |    
Persistence of interventionism
Public choice response
Logic of rational ignorance
Austrian response
51:26    |    
Structure of social capital
Norms and beliefs of interaction
55:41    |    
Destruction of social capital
Cost and benefit analysis
58:27    |    
Question and answer period
Do you have examples of government intervention affecting the social capital?
Has the imperfect knowledge, yet self-interested assumption, been applied to government?
Is there a line that determines in which cases intervention is good or bad?
Do you have an example of "good" social intervention?
Tocqueville mentions in his book Democracy in America a case about the tradition of informal institutions and the importance of how governments have to reflect informal institutions.  What do you think about opt-in mechanisms?
01:44:41    |    
Final words
01:44:48    |    
Final credits




Government Intervention and the Structure of Social Capital

09 de junio de 2011   | Vistas: 24 |   Austrian School Of Economics Bureaucracy Central Planning Entrepreneurship

Christopher Coyne analyzes the effects of government interventions and the social capital. He emphasizes in the economic calculation that is possible through private property, which generates markets, and subsequently, generates prices that point out the opportunity cost to individuals. He discusses the results of such interventions and shows how it distorts the relative process of capital structure, also explaining that since government is non-profit, economic calculations cannot be engaged, and as a result the resources are not efficiently allocated; interventionism misrepresents the relative prices of the capital structure. Coyne presents two critiques to understand the dynamic of interventionism, the Austrian political economy and the public choice critique, both based on knowledge and motivational assumptions. Finally, he mentions that interveners are unable to assess the exact results of their intervention because of the complexity of the economy.

Christopher Coyne is the F.A. Harper Professor of Economics at the Mercatus Center and professor of economics at George Mason…


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín