#457 – Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

3119.053 - 3142.078 Jennifer Burns

The previous neoclassical understanding is sort of things go up and things go down. And when they go down, there's a natural mechanism to bring them back up. So when the economy is going down, prices are going down, wages are going down, everybody's losing money, but eventually firms are going to realize, hey, I can hire people cheap. hey, I can buy stuff cheap. I don't have a lot of competition.