Thomas Sowell - Discussions

Entrepreneur Aneesh Karve joins me for a detailed conversation about the book "Discrimination and Disparities," written by Thomas Sowell. We discuss how governments manipulate statistics and how intervening in free markets leads to more inequality and less wealth creation. Be sure to check out Swan Private, the trusted Bitcoin financial services provider for high-net-worth individuals and businesses worldwide: https://www.swanprivate.com/breedlove Guest Aneesh's Twitter: https://twitter.com/akarve Discrimination and Disparities: https://www.amazon.com/Discrimination-and-Disparities-audiobook/dp/B078N861YQ/ref=sr_1_1?keywords=discrimination+and+disparities&qid=1660844142&sr=8-1 PODCAST Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1 RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript: Outline 00:00:00 “What is Money” Intro 00:00:08 Swan Private 00:01:37 The Incentive Structure of Fiat: How Politicians Manipulate Statistics for Profit 00:08:36 The Butterfly Effect of Literacy Throughout History 00:14:13 The History of China's Authoritarianism: How Discrimination Affects Progress 00:19:35 The Network Effects of Language 00:23:27 Rapidly Changing Pre-Requisites for Success: Discussing the Downfall of Eastman Kodak 00:26:21 Watch “Hard Money with Natalie Brunell” From Swan Studios 00:27:06 Take Control of Your Healthcare with CrowdHealth 00:28:15 Are Property Rights Enough to Protect the Individual? 00:34:09 “Individual Optionality Increases as the Integrity of Private Property Increases.” 00:37:18 The Pillars of Language & the Breakdown of Definitions 00:41:43 Inequality Without Discrimination: Discussing Society's Ability to Self-Regulate 00:51:54 “What is Money” Outro SOCIAL Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22?lang=en All My Current Work: https://linktr.ee/breedlove22 WRITTEN WORK Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTE Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true RECOMMENDED BUSINESSES Swan Private guides high-net-worth individuals and businesses in all areas of Bitcoin strategy: https://www.swanprivate.com/breedlove CrowdHealth offers an innovative health insurance model based on Bitcoin and community: https://www.joincrowdhealth.com/breedlove Okcoin is an innovative and education-focused cryptoasset exchange platform—earn $50 in free Bitcoin by signing up at: https://okcoin.com/breedlove Invest with a licensed Bitcoin advisor through DAIM: https://daimio.typeform.com/RobertBreedlove Join Me At Bitcoin 2023, pre-order your tickets now (for a chance to win 10M sats, use discount code BREEDLOVE): https://b.tc/conference/2023 Automatic Recurring Bitcoin Buys and Withdrawals: https://www.swanbitcoin.com/breedlove/

Entrepreneur Aneesh Karve joins me for a detailed conversation about the book "Discrimination and Disparities," written by Thomas Sowell. We discuss the governments ability to intervene in free markets and how that has lead us on a path of undesired outcomes and rebranded Marxism. Be sure to check out Swan Private, the trusted Bitcoin financial services provider for high-net-worth individuals and businesses worldwide: https://www.swanprivate.com/breedlove Guest Aneesh's Twitter: https://twitter.com/akarve Discrimination and Disparities: https://www.amazon.com/Discrimination-and-Disparities-audiobook/dp/B078N861YQ/ref=sr_1_1?keywords=discrimination+and+disparities&qid=1660844142&sr=8-1 PODCAST Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1 RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript: Outline 00:00:00 “What is Money” Intro 00:00:08 Learn about Bitcoin with Swan Private at SwanPrivate.Com 00:01:37 “The Invincible Fallacy” and the “Fatal Conceit” 00:18:03 Rebranded Marxism and Examples of how Governments Manipulate with Statistics 00:26:04 A Complicated System vs a Complex System: Why Society Needs Free Markets 00:36:02 How Government Intervention Leads to Undesired Outcomes 00:42:59 Watch “Hard Money with Natalie Brunell” From Swan Studios 00:43:44 Take Control of Your Healthcare with Crowd Health 00:44:53 Explaining “Discrimination 1A, 1B and 2" 00:54:48 “People Follow Incentives not Laws” 01:07:37 “People are Depraved because they’re Deprived” 01:13:22 Government Intervention Corrupting the Population’s Ability to Self-Organize 01:28:46 Consequences of Government Intervention, Messaging, and the Manipulation of Incentives 01:43:19 “What is Money” Outro SOCIAL Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22?lang=en All My Current Work: https://linktr.ee/breedlove22 WRITTEN WORK Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTE Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true RECOMMENDED BUSINESSES Swan Private guides high-net-worth individuals and businesses in all areas of Bitcoin strategy: https://www.swanprivate.com/breedlove CrowdHealth offers an innovative health insurance model based on Bitcoin and community: https://www.joincrowdhealth.com/breedlove Okcoin is an innovative and education-focused cryptoasset exchange platform—earn $50 in free Bitcoin by signing up at: https://okcoin.com/breedlove Invest with a licensed Bitcoin advisor through DAIM: https://daimio.typeform.com/RobertBreedlove Join Me At Bitcoin 2023, pre-order your tickets now (for a chance to win 10M sats, use discount code BREEDLOVE): https://b.tc/conference/2023 Automatic Recurring Bitcoin Buys and Withdrawals: https://www.swanbitcoin.com/breedlove/

In this episode, Aneesh Karve joins me for a detailed conversation on the book, "Discrimination and Disparities" by Thomas Sowell. We discuss the problems of the current social vision, the importance of testing the Marxist hypothesis, the cure for dogmatism, and how we change for the better. Aneesh Karve is the Co-founder and CTO of Quilt. He's an expert at data, visualization, entrepreneurship, Bitcoin, and economics. // GUEST // Twitter: https://twitter.com/akarve Website: https://akarve.com/ Book: https://shorturl.at/wNS36 // SPONSORS // iCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/ Ledn: https://www.ledn.io/ CrowdHealth: https://www.joincrowdhealth.com/breedlove Wasabi Wallet: https://wasabiwallet.io/ Join Me At Bitcoin 2023 in Miami (use discount code BREEDLOVE): https://b.tc/conference/ Casa (use discount code BREEDLOVE): https://keys.casa/ Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/ Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.com Carnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/ // OUTLINE // 00:00:00 - Coming up 00:01:13 - Intro 00:02:46 - Secure Your Bitcoin Stash with The iCoin Hardware Wallet 00:03:43 - Do More with Your Digital Assets with Ledn 00:04:28 - Introducing Aneesh Karve 00:04:58 - The Concept of Social Vision and Human Consequences 00:06:02 - The Notion of Real Socialism 00:06:52 - Scientific Analysis of Social Vision and Economic Value 00:09:12 - How to Measure Education 00:11:32 - Underlying Problem of our Education System 00:13:42 - The Moldy Bread Theory 00:15:08 - Importance of Self-Sorting 00:15:33 - How Social Vision Shifted in the 20th century 00:16:42 - Distribution of Natural Phenomenon 00:18:20 - Negative Impact of Social Welfare Programs 00:21:58 - Difference Between Rights and Responsibilities 00:26:30 - How Parents' Occupation Affect their Children 00:28:32 - The Complexity of Social Language and Terms 00:32:03 - Centralized vs. Distributed System 00:36:20 - Distributed System and Bitcoin 00:38:06 - Facts and Data of our Socio-Economical Status 00:41:06 - Cognitive Resonance and Breakdown of Fiat Model 00:44:15 - The Margin of Morality 00:46:26 - Reciprocity being Replaced by Unilaterality 00:50:11 - The Problems with our Social Vision 00:54:56 - The Counter Examples to the Prevailing Social Vision 00:54:57 - Testing The Marxist Hypothesis 01:00:48 - Take Control of Your Healthcare Insurance with CrowdHealth 01:01:50 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 01:02:25 - A Chance to Win Discounted Tickets to the Bitcoin 2023 Conference and 10M SATS 01:03:22 - Hold Bitcoin in the Most Secure Custody Model with Casa 01:04:10 - Destruction of Individual Rights 01:05:18 - Effects of Fiat Paradigm on Social Morality 01:10:20 - The Network is Only as Good as its Links 01:13:22 - Understanding the Model of Complex System 01:19:06 - True Miracle of Bitcoin 01:21:32 - Inflation of Knowledge is Reducing Discrimination 01:24:41 - The Importance of Volatility 01:28:41 - What is Economic Mobility 01:30:12 - Consequences of Social Interventions by the State 01:32:40 - Rational Approach to Better Mental Models 01:36:09 - Can Bitcoin Survive in the Long Run 01:39:07 - Ingredients for Understanding the Complex Reality 01:44:31 - The Importance of True Inquiry 01:46:22 - Bitcoin is the Cure for Dogmatism 01:49:48 - Changing for the Better 01:52:57 - Understanding the Term, ‘Ultimate Reality’ 01:55:39 - The Final Conclusion 01:58:50 - Where To Find Aneesh's Work // PODCAST // Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE? RSS Feed: https://feeds.simplecast.com/MLdpYXYI // SUPPORT THIS CHANNEL // Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove Dollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101 // WRITTEN WORK // Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ // SOCIAL // Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22 All My Current Work: https://vida.page/breedlove22

In this episode, Aneesh Karve joins me to wrap up our discussion on the book, ‘Discrimination and Disparities’ by Thomas Sowell. We discuss the concept of hidden economic consequences, the shortcomings of central planning, and how socialism is not a progressive philosophy. Aneesh Karve is the Co-founder and CTO of Quilt. He's an expert at data, visualization, entrepreneurship, Bitcoin, and economics. // GUEST // Twitter: https://twitter.com/akarve Website: https://akarve.com/ Book: https://shorturl.at/wNS36 // SPONSORS // In Wolf's Clothing: https://wolfnyc.com/ Gold Investment Letter: https://www.goldinvestmentletter.com/ CrowdHealth: https://www.joincrowdhealth.com/breedlove Wasabi Wallet: https://wasabiwallet.io/ Join Me At Bitcoin 2023 in Miami (use discount code BREEDLOVE): https://b.tc/conference/ Casa (use discount code BREEDLOVE): https://keys.casa/ Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/ Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.com Carnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/ //OUTLINE// 00:00:00 - Coming up 00:01:21 - Intro 00:02:56 - Wolf 00:03:40 - The Last Chapter in Thomas Sowell's Book 00:04:15 - Equal Starting Point Doesn't Guarantee Equal Outcome 00:08:07 - "There are no Solutions, There are Only Trade-Offs" 00:09:58 - The Desire For an Equal Outcome 00:11:26 - The Difference Between Process and Outcome 00:12:04 - Economics is a Study of the Hidden Consequences 00:16:15 - The Higher Resolution Thinking and Seeing the World as it is 00:19:54 - "When Government Organization Fails, It Doesn't Go Out of Business, but Gets Bigger" 00:21:48 - The Merit of Creating Economic Value 00:23:13 - Controlling the definition of Merit to Gain Power 00:26:36 - The Ineptitude and Impossibility of Central Planning 00:28:53 - How Socialism is Not a Progressive Philosophy 00:34:00 - Maximize Your Profits with Gold Investment Letter 00:34:57 - Take Control of Your Healthcare with CrowdHealth 00:35:59 - Wasabi Wallet: A Bitcoin Wallet with Privacy Built-In 00:36:47 - There Should be a Back Pressure on Central Planners 00:38:37 - The Lack of Feedback in the Outcome Base Thinking 00:39:41 - Equal Distribution is Non-Existent in History and Culture 00:41:37 - Language is a Network Effect 00:45:56 - How Equality Destroys the Process of Individual Advancement 00:47:45 - The Advantages of Unequal Outcomes 00:50:10 - The Process of Inequality Throughout History 00:51:58 - There is No Such Thing as a Fair Starting Point 00:54:53 - The Symmetry of Risk and Reward 00:56:25 - Why Imitation is Fundamental in Human Interaction 00:58:35 - The Objectivity of Competence and Decision Making 01:01:13 - The Two Brains Surgeons Analogy 01:02:25 - A Chance to Win Discounted Tickets to the Bitcoin 2023 Conference and 10M SATS 01:03:17 - Hold Bitcoin in the Most Secure Custody Model with Casa 01:04:05 - Process Goals vs. Outcome Goals 01:08:12 - The Importance of Balance Between Incentives and Disincentives 01:13:00 - The Statist Fantasy 01:14:18 - The Market is Smarter than Any Computer Ever Could Be 0:19:27 - Empowering Individuals to Created the Best Collective Outcomes 01:21:19 - It's Not About Socialism vs. Capitalism 01:26:41 - There is No Final Solution in Economics 01:29:33 - How Mislogic Is Used to Seize Power 01:32:38 - The State is a Microcosm of the Ego 01:35:06 - Individuals and the Markets are Communities of Cells 01:37:10 - The Most Beautiful Poem Written by the Biggest Capitalist 01:39:25 - Where to Find Aneesh's Work // PODCAST // Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE? RSS Feed: https://feeds.simplecast.com/MLdpYXYI // SUPPORT THIS CHANNEL // Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove Dollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101 // WRITTEN WORK // Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ // SOCIAL // Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22 All My Current Work: https://vida.page/breedlove22