Why failure of modern economics is inevitable

[Sarmatian]

Lecture explaining core elements of modern economical system, why it result in technological progress, why it's leading to one crisis after another and why coming crisis will be the last one.

In Russian.

[catgeorge]

Banking aside which needs reforms - free market and free trade is the only road to a chance for prosperity for the ordinary citizen.

Market crisis have been ongoing issues since the foundation of a mean of exchange in Ancient Greece the means of exchange was olive oil, honey, iron and copper.... then later came coinage.

All market crisis have one thing in common - emotion - extreme greed followed by extreme fear and vice versa. The allocation of money and investment is the pinnacle requirement to progress, growth and prosperity.

But markets are too bank dominated not market dominated so it has flaws and not perfect but good enough for the educated human to progress appropriately and properly.

[Sarmatian]

Banking aside which needs reforms - free market and free trade is the only road to a chance for prosperity for the ordinary citizen.

Market crisis have been ongoing issues since the foundation of a mean of exchange in Ancient Greece the means of exchange was olive oil, honey, iron and copper.... then later came coinage.

All market crisis have one thing in common - emotion - extreme greed followed by extreme fear and vice versa. The allocation of money and investment is the pinnacle requirement to progress, growth and prosperity.

But markets are too bank dominated not market dominated so it has flaws and not perfect but good enough for the educated human to progress appropriately and properly.

Banking is fundamental element of modern economy. Without it technological progress is impossible. It's all explained in the lecture.

Inevitable conclusion of free unregulated market is monopoly.

Inevitable conclusion of free trade is total bankrupcy of local economies in smaller countries.