Garett Jones Interview: Is More Power for Political Elites Better For the Economy?

Garett Jones makes the case that less democracy and more power for political elites is better for the economy. Dr. Garett Jones is Associate Professor of Economics at George Mason University and makes the case for a more effective government with less influence from constituents in his new book, 10% Less Democracy.

0:00 Dr. Garett Jones Introduction
1:48 Appointed judges write more judgments that are cited than elected judges
3:15 What do we mean when we talk about democracy?
4:19 Senators are much more likely to vote for free trade when they're far from reelection
5:50 Founders didn't want full democracy
8:00 Being in a smart group of people was much more important for your prosperity than being smart yourself
11:02 Educated or intelligent people tend to support laissez-faire
11:45 People with higher IQ are more market-friendly & socially tolerant
14:06 Capitalism leads to democracy
15:00 Russia put liberal rights first, China put prosperity first
15:30 China has been the leader in patents which is a gift for the world
16:23 The DaVinci effect for nations
22:30 More democratic government agencies (CDC, FDA) have been less effective during the pandemic compared to less democratic entities (Federal Reserve)
23:42 US Federal Reserve has been arguably the best-performing government agency during the pandemic by preventing bad financial consequences
24:15 What about the Fed stealing our money through inflation?

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Видео Garett Jones Interview: Is More Power for Political Elites Better For the Economy? канала Jason Hartman