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What Creates Wealth?

What Creates Wealth?


Why are some nations abundant as well as some nations bad? Is it accessibility to natural deposits? Is it tax obligation plan? A determined labor force? These are necessary, yet not determinative. The solution is stealthily easy– it’s what remains in our heads: expertise. Thus, the best method to advertise financial development is to grow an atmosphere that urges the spread of expertise. Such an atmosphere needs liberty, which is why the freest cultures are one of the most thriving. In 5 mins, financial expert George Gilder clarifies why. Donate today to Prager U! http://l.prageru.com/2ylo1Yt. JoiningPrager U is cost-free! Sign up currently to obtain all our video clips as quickly as they’re launched. http://prageru.com/signup. DownloadPragerpedia on your apple iphone or Android! Thousands of resources as well as realities within your reaches. apple iphone: http://l.prageru.com/2dlsnbG. Android: http://l.prageru.com/2dlsS5e. JoinPrager United to obtain brand-new boodle every quarter, special very early accessibility to our video clips, as well as a yearly To wnHall telephone call with Dennis Prager! http://l.prageru.com/2c9n6ys. JoinPrager U’s message listing to have these video clips, cost-free product free gifts as well as damaging statements sent out straight to your phone! https://optin.mobiniti.com/prageru. Do you go shopping on Amazon? Click https://smile.amazon.com as well as a percent of every Amazon acquisition will certainly be given away to Prager U. Same fantastic items. Same low cost. Shopping made purposeful. GO TO Prager U! https://www.prageru.com. FOLLOW us! Facebook: https://www.facebook.com/prageru. Twitter: https://twitter.com/prageru. Instagram: https://instagram.com/prageru/. Prager U gets on Snapchat! SIGN UP WITH Prager REQUIRE! ForStudents: http://l.prageru.com/29 SgPaX. JOIN our Educators Network! http://l.prageru.com/2c8vsff. Script:. Let me start with what seems like an extremely easy inquiry: What is one of the most important component in wide range production as well as financial development? Almost every person would certainly respond to:Money Or having a great deal of natural deposits. But the genuine solution is … expertise. It’s simple to confirm. What is the distinction in between us as well as a cavern guy? The just distinction is that we understand a whole lot much more. Biologically we coincide. The nerve cells in our minds coincide. The real world coincides. But our lives are considerably much better. Why? Because of expertise. You do not need to go back to the cavern guy to confirm this factor. You might return fifty years. New expertise, claim the exploration of penicillin or brand-new formulas that causes a far better internet search engine– constantly comes as a shock. We call these shocks development due to the fact that they are naturally unforeseeable. New items ruptured on the scene relatively out of no place. Suddenly, there’s electrical light or a vehicle or an apple iphone. Now, naturally, these items really did not originated from no place; they originated from the synthesis of built up expertise which caused these advancements, these shocks. By interpretation, after that, development can not be prepared, it includes misplacement. The manufacturers of buggy whips did not have an excellent future when Henry Ford presented the very first Model T as well as it constantly indicates the future. Innovation– brand-new expertise– causes not just brand-new items yet brand-new firms, as well as entire brand-new sectors. And development develops wide range; wide range that is inevitably dispersed throughout an economic climate. Here’s exactly how it functions. More liberty, even more expertise, even more development. And much more development causes vibrant financial development. Less liberty, much less expertise, much less development,– much less financial development. So, if liberty advertises expertise as well as development, which causes financial development, why do not all individuals as well as federal governments accept it? To comprehend that we need to go back to what I stated previously regarding development being a shock, being unforeseeable. This changability makes many individuals awkward. Their objective is to get rid of shock. One discovers this remains in all optimistic visions from communism to socialism to the idea that with complicated insurance coverage bundles lenders might safeguard themselves from a tragic home mortgage crisis. In Europe with its falling short well-being states as well as increasingly more in the UNITED STATE, we see this need to get rid of shock in the ever before increasing function played by federal government, larger administrations, even more regulations, even more guidelines. Every brand-new situation, genuine or pictured, brings ever before much more legislations. A corrupt power empire, Enron, implodes in2001 A year later on the Sarbanes-OxleyAct is passed, including hundreds of brand-new web pages of guidelines to the government pc registry. In 2011, the 2,300- web page Dodd-FrankAct is created in reaction to the 2008 economic situations. It has actually given that expanded to greater than 8,000 web pages. For the total manuscript, browse through https://www.prageru.com/videos/what-creates-wealth.
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43 COMMENTS

Frederick - posted on September 30, 2018 10:56 pm

Here's the reality, Dude Here!

Maximilian Jehuda Ewert - posted on October 7, 2018 12:26 pm

but we fight anyone having the equipment to accumulate and understand and put in practice knowledge:
https://www.youtube.com/watch?v=B4RZmBkTnLA&list=PLg1OF_sMIhj6qiDgNlDFx6rf03vkD9MNj&index=2&t=0s

mehdi moodi - posted on October 11, 2018 1:57 am

Absolute nonsense! The factors of production are land, labor, capital, and entrepreneurship. Just look at any basic economics book. Knowledge is cheap! If you have money you hire a bunch of super talented PhDs and the patents of whatever they come up with belongs to you! Shame on you PragerU for your pernicious videos.

Jeronimo Tamayo Lopera - posted on November 1, 2018 4:07 am

AMEN.

Fiddler Green - posted on November 3, 2018 5:50 pm

Knawledge

christian paulo pelandas - posted on November 15, 2018 3:10 am

Thats why Western is more advance to the eastern right? Because of knowledge

christian paulo pelandas - posted on November 15, 2018 3:11 am

Thats why Western is more advance to the eastern right? Because of knowledge

उत्कर्ष भारद्वाज - posted on November 18, 2018 7:35 am

4:41 You just shown a wrong map of India.?????? This simply shows how less research you do before making the videos and how poor quality information you provide to your subscribers. First do proper research on any topic before make the video on it.

Articles of Demise - posted on December 4, 2018 2:12 pm

great video. The guy talking sounded really good, but at the end there was a pause between him saying his name and,"for prager university," it made it sound like he was an evil cartoon villain lol.

Sora Monster - posted on December 10, 2018 7:09 pm

I like PragerU a lot, so I am not trying to dis you guys. I also like capitalism…… But I don't agree with everything here. Namely that ALL innovation is NOT planned….. As a marketing major, I disagree. All those example you laid out did have a plan. The plan begins when innovates see a PROBLEM in the market, and then they use this knowledge to create a better solution.

Innovation without a plan is never as successful as innovation with a market plan. You can invent a wacky ass product, but if no one WANTS or NEEDS this product or service, then how would it create wealth?? Some innovations do appear by accident and without a plan…. for example kevlar…. Yet, not all innovations are this lucky.

deadpool 177 awesome - posted on December 14, 2018 5:17 pm

Knowledge is power, and now it's money! Cool.

Andrew Wesgard - posted on December 18, 2018 1:40 am

I feel like I'm watching a tai Lopez video

J. Gona - posted on December 27, 2018 11:41 pm

The answer in my head was "innovation" and sure enough, a minute in ! Perhaps not everybody likes the conclusions that PragerU draws, but they are rarely wrong about the observable facts. (If they left religion out, I'd like the their videos even more, but most of these videos are hard to refute). It's sort of like listening to your parents when you're a teenager. You might think it's pointless or a pain in your ass, but as you learn and grow older you realize that their perspectives were right all along, and you end up embracing them and repeating the same cycle with you own kids, and their kids. etc.. ?

deVall3y - posted on January 13, 2019 11:40 am

This speaker is so charismatic and captivating!

Pedro Exposito - posted on January 29, 2019 10:01 pm

Most innovation is not productive or useful or good.
The motive for most people is not productive innovation, but higher profits (primarily, lower costs).
An "innovation" would be an idea to dump toxic wastes by using a valve behind a truck and spill it while driving.
It's innovative ! no doubt. it lower costs and increases profits. yes.
Is it something we want ? NO
——-
What is the solution ? regulations and laws.
Many regulations are too long and complex because of industry "input" in crafting exceptions and special conditions.
Industry wants loop holes to be available.
Industry wants very narrow definitions.
Most regulations would only be a few pages otherwise.

John Grit - posted on February 1, 2019 9:51 pm

People who get off their ass and work, make the economy work.

John Grit - posted on February 1, 2019 10:02 pm

We do not have pure Capitalism, and we do not have pure Democracy. A Democracy is two men and a woman voting on who gets raped. The original powers of the Federal Government were few and defined! FDR and LBJ forced tax slavery on those who work and earn more than average income. So they could buy votes with tax money to fund leach programs.

Igor Sidelkovsky - posted on February 2, 2019 8:17 pm

Many thanks, I have been researching "grow wealth" for a while now, and I think this has helped. Have you heard people talk about – Xiyannah Lansaiah Theorem – (do a google search ) ? Ive heard some pretty good things about it and my partner got excellent results with it.

Eladio jose mora - posted on February 3, 2019 12:34 am

This was great, I have been researching "wealth creation book" for a while now, and I think this has helped. Have you ever come across – Xiyannah Lansaiah Theorem – (just google it ) ? Ive heard some super things about it and my neighbour got amazing success with it.

Aty Ali - posted on February 10, 2019 7:03 pm

I think the fall of The Iron Curtain is a bad example (at least if it comes to Bulgaria) because the people were wealthier and could afford more during communism than today. Almost everyone lost their jobs, the 90s was a decade of financial insecurity, basic needs were unfulfilled and all in all no one could not afford anything. I admit, yhings have changed to the better but some regions and groups of people haven't recovered yet. Asking a lot of people a great part of them will probably tell you that they liked the former political form. I am of course not speaking for everyone.

Vojtěch Tranta - posted on February 11, 2019 9:17 pm

I hoped for easy explanation how wealth is created. I got empty ideological floskule, thanks no.

Exxelenen Setijadi - posted on February 12, 2019 4:48 am

There are probably potential innovators somewhere in the world but end up passing away without their ideas turned to reality because they don't have the necessary equipment and material to do so

CARSON SHELBY - posted on February 24, 2019 1:28 am

Your link to sign the petition doesn't work

Gabriel Chavez - posted on March 21, 2019 5:34 pm

SCIENCE RULES

Ron Pearson - posted on April 24, 2019 3:46 am

The key is being able to free up your time to actually innovate. It is getting SO hard to extract wealth from the market to actually innovate without exchanging MASSIVE amounts of your time for VERY small capital.

Nyal Burns - posted on April 25, 2019 5:37 pm

Regulation creates more wealth that is true but the wealth is built up on scams and bad thing like the drug industry or 418 scams. Enron scammed loads of people the the government brought in regulation to stop it happening in the future. If the regulations were that bad he would and should of mentioned it. But he only mentioned the pages it contains which is pointless.

Mehdi Hatami - posted on May 22, 2019 2:25 am

Is PragerU Leftist or is Bernie Sanders a conservative? Let me explain

Free College for All:

– would lead to more knowledgable workforce
– would result in a better-educated population
– innovation, scientific inquiry, and technological development in college laboratories which will later be released in the market
– knowledge liberates and frees people from ignorance. I'm talking about liberty from constraints created by ignorance not necessarily government regulation
– the more readily knowledge and understanding are available to everyone the more societal freedom there is
– end result: economic growth

Knowledge + liberty + innovation = Economic growth Right?

Bernie2020 Free College for All!

Vernon Schillinger - posted on June 11, 2019 10:43 pm

What an intriguing voice.

Said no one ever.

Youssef Selkani - posted on June 15, 2019 6:34 am

So why innovation always comes from western rich countries?

Felipe Freitas - posted on July 4, 2019 3:22 am

Amazing!

Indrra - posted on July 7, 2019 5:32 am

Data of nature equal knowledge

Mike Shilyan - posted on July 16, 2019 3:15 am

Innovation and new knowledge created wealth. Politic is nothing to do with number . You can't fake number

skyler bowerbank - posted on July 25, 2019 5:55 pm

Im just laughing at the 666k views

Cindy Hickman - posted on July 26, 2019 4:48 pm

Prayer u is so wrong about everything if u wanted the truth just take the opposite of everything they say

Oppresion of the Patriarchy - posted on July 31, 2019 4:11 am

Rule of acquisition #22:
A wise man can hear profit in the wind.

Pixel Martyr - posted on August 7, 2019 6:39 pm

Wonderful PragerU!

wolfsegovia - posted on August 9, 2019 7:22 am

3:42 when you have experienced the unnessesary burden of regulations and completely relate to what he says… Great video

Ken Wells - posted on August 12, 2019 6:03 pm

This is why the Chinese are running out of other people's innovation. They don't allow invention from their people because they don't like new and the inherent dangers.

However, when the Chinese OBSERVE successful, proven inventions, then they harvest and steal the IP from our corporations. Duh.

If you notice, the Chinese military is always trying to copy things and are less successful because military innovation is more difficult to extract.

They can make a jet that looks like a western fighter and buy a junk Russian engine stuck in the back. But they don't have innovative people because it is not from their people.

They are trying to copy capitalism, but now they are running out of cheap labor, cheap money, and they resisted letting the chains off in the first place.

What has China invented?

I remember 25 years ago China was copying exquisite furniture from the Europeans. But the stuff fell apart because they didn't copy the science of the wood grain, types of wood, glue, temperatures, humidity, varnishes.

They could copy what they see VERY effectively. But they had no entrepreneurs or inventors to figure out how to make good furniture that appropriates European design.

Ken Wells - posted on August 12, 2019 6:13 pm

Concerning Capitalism.

There is always room for improvement. But there is WAY more room to ruin everything. History tells is so. When a few powerful people try to control invention, it dies.

We are on the edge of a technological, science, and medicine explosion that will make our historical past look much closer to the cavemen, than to humanity in the next ten years … IF we can protect innovation and require it to succeed in the open market of ideas.

Tedd Rosenthal - posted on September 9, 2019 8:19 pm

You don't have to go back to the caveman, you can just go to France.

Andaros 210 - posted on September 30, 2019 1:32 am

Innovation is not that simple, it does not just point to the future, but draw from the past.

Starvin Marvin - posted on October 3, 2019 8:35 am

I somehow feel this media is strongly affected by republican capitalism… Especially that of americans.

Starvin Marvin - posted on October 3, 2019 8:38 am

So basically the More we "innovate" products that make peoples lives easier and lazier and More hedonistic we create More wealth?


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