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Thanks to Storyblocks for sponsoring this video! Download unlimited stock media at one set price with Storyblocks ➡️ http://storyblocks.com/HowMoneyWorksUncut Sign up for our FREE newsletter! - https://www.compoundeddaily.com/ Books we recommend - https://www.howmoneyworkslibrary.com/ ----- My Other Channels: @HowMoneyWorks @HowHistoryWorks Edited By: Svibe Multimedia Studio Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images 📩 Business Inquiries ➡️ sponsors@worksmedia.group Sign up for our newsletter https://compoundeddaily.com 👈 All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. #business #finance ----- Democracy is the worst form of government apart from all of the alternatives… Even when Winston Churchil said this almost 80 years ago he himself admitted that the line was so old that nobody really knows who said it first. He also said that the greatest argument against democracy was a five minute conversation with the average voter and… well… maybe he had a point… and even that is assuming that the system was working as intended with everybody voting in line with their own interests. One of the most consistently frustrating problems in finance and economics is people being told about policies that would work against them… and then supporting them anyway… Of course all of you are probably thinking of some specific examples right now, but it happens… almost everywhere… Farmers voted for a policy that would destroy farming, home buyers rules to make homes more expensive, and small business owners for laws that overwhelmingly favour… big businesses… But why do we keep doing this? ----- Timestamps: 00:00 Intro 01:46 Are We Getting Stoopid? 15:02 Why Is Political Lobbying Allowed Or Even Tolerated? 24:38 WTF Do Think Tanks Actually Do? 34:56 Most People Think They Are Middle Class (Most Are Not) 47:09 If Nobody Can Afford A Home, Who's Going To Buy Them? 58:17 America's Dangerous Obsession With Entrepreneurship 1:08:40 America's Latest Farming Crisis