• 00:00    |    
    Initial credits
  • 00:06    |    
  • 00:37    |    
  • Background
  • 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 n , 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
    • Discrimination
    • 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 n a case about the tradition of informal institutions and the importance of how governments have to reflect informal institutions. What do you think aboutn opt-in mechanisms?
  • 01:44:41    |    
    Final words
  • 01:44:48    |    
    Final credits

Government Intervention and the Structure of Social Capital

New Media  | 09 de junio de 2011  | Vistas: 137

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…