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More Ideology Than Economics
on July 23, 2010
I got this documentary in hopes that it would translate economic concepts and explain how free-trade economic policies help economies grow. Unfortunately, there is more emphasis on advocating free-trade, no-regulation policies and little is done to explain, in depth, how these policies will help an economy. While these basic ideas are clearly the foundation of strong modern economies, he takes these good ideas to ridiculous extremes. The real low point of the film is when he finds a labor-sharing agreement in the Hippocratic Oath.
The best parts of the film are the segments of how inflation happens and how the Great Depression began. These parts of the documentary really get into the mechanics of how these phenomena occur, though the part on the Great Depression is marred by his making the overarching conclusion that the government screws everything up.
I could not help but wonder if his total faith in complete free-market economics would have been as shaken as Greenspan's after 2008 meltdown, when the private sector screwed everything up and the criticism was that government did not intervene as much as they should have earlier on.