Entering the Twilight Zone...
Here is a video about the book that provides an economic foundation to some of Glenn Beck's theories...
Scary story! I think stuff like 'Lord of the Rings' is more fun because you know it's fictional while this sounds like it may be written by someone who is up-to-date with modern economics and not just telling you an amazing story with illustrations and dramatic music.
How about reading the 15 links to the top right of this blog under the title of "Econ 101" to help put the dramatic music in perspective?
Then consider the fact that you choose your trance state (i.e. perspective) and that if your mind is blown, how do you determine what is true or not? Especially since we rarely have the time to check on everything said by an opinion show host.
Anyways, notice any similarities from the above video to the one below?
Finally, read through the last two articles under Econ 101 titled "How do banks and loans work"? and "How the 'multiplier effect' works in all economies" then watch this video(about Beck's views on gold deposits and fiat money)...is anyone seeing the same crazy shit I am?
[Correction - August 18 2011: The book "Road to Serfdom by F.A. Hayek" is actually a book of political philosophy that is a reaction and explanation to the two big world wars and the factors that led to the Nazi Party of that time. Glenn Beck uses it in an inverse way to project it onto his target enemy/enemies [which is a GOP goal (i.e. Koch Brothers etc.). My economics textbooks were from the 90's when Hayek's ideas had already been implemented (i.e. privitisation) to a great degreee in many relevant areas and we were the kids studying the history of those developments. Many conservative economists today are literally old enough to still be caught up in the debate from the 1930's (Keynes vs. Hayek). Although there seems to be a strategy of confusing people by blurring modern economics (literally moving it backwards, like many other things are - see my blogs). - One of the main distinctions is the division between Macro and Micro economics which have been confused for competeing economic theories, when in fact they are two different perspectives of the same phenomenon for better understanding of ecnomic functioning (overview vs. detailed). They may have been competing theories in the 1930's but that was long before our time. Economics is a modern science and is evolving with it. Lets leave the debates of the 1930's to 1960's where they are, i.e. in the past and move to what economic history has taught us about which theory worked, in what way it worked and how it applies to our time and economic environment. Full analysis of economics (including Keynes and Hayek will be covered in my economics blog.]
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