History Lessons - In Defense of Financial Markets, Part 3 of 7 (Audio only)
Channel: Yaron Brook
Date: 2019-01-30

Free, unregulated financial markets serve the vital function of providing capital to the producers. Yet, through the ages, banking and other financial activities have been viewed as corrupt and exploitative. From the money-changers of the Middle Ages to the investment bankers of today financiers have been crippled by the hostility of looters.

In this course, given at the 1996 Second Renaissance Conference, Dr. Brook defends these victims. He methodically describes how financiers serve a vital role in the economy. Using the stock market to illustrate this principle, Dr. Brook explains the important economic role of speculators, the harmony of interest between short-term and long-term investors, and the objective nature of stock prices. In addition he defends hostile takeovers, leveraged buyouts, "junk" bonds and other financial innovations used extensively in the 1980s.

In the process, he delineates the philosophical ideas that make the attacks on financial markets possible. He defends the profit motive as the only moral and practical motive for financial transactions.

This course was recorded at the 1996 Second Renaissance Conference.

Like what you hear?  Become a Patreon member, get exclusive content and support the creation of more videos like this! https://www.patreon.com/YaronBrookShow or support the show direct through PayPal: paypal.me/YaronBrookShow.

Want more? Tune in to the Yaron Brook Show on YouTube (https://www.youtube.com/user/ybrook). Continue the discussions anywhere on-line after show time using #YaronBrookShow. Connect with Yaron via Tweet @YaronBrook or follow him on Facebook @ybrook and YouTube (/YaronBrook).

Want to learn more about Objectivism? Check out ARI at https://ari.aynrand.org.