Tim Robbins: Lessons in Economics

Tim Robbins recently gave a controversial speech at a conference for the National Association of Broadcasters. A must watch. Event organizers reportedly tried to talk him out of giving it and a few attendees walked out. But he closed with a standing ovation.

He leads with this attention-grabber:

"I don't know about you, but show me a starlet without panties getting out of a car, and suddenly the world seems like a better place. Show me 'Knight Rider' drunk on the floor eating a hamburger, and I won't ask why my kid has no health insurance. Let's stop burdening people with facts."

He then goes on to decry the media as driven by a "pornographic obsession with celebrity culture,” car crashes and vacuous politics. It’s a pretty good speech. I love Robbins as an actor, but I don’t much care for his politics. In this case, bravo Tim.

He makes an excellent observation on technology growth and comes across being very Schumpterian (start 0:50). His point, which I'm not sure he knew he was making, is that deregulated (even monopolized) industries breed innovation and creative destruction. His evidence: Now when Stephenopolis and Gibson fail, we can go to the internet, YouTube, satellite radio, and more. This is true, and it's this kind of innovation that drives economic growth and prosperity and, yes, even freedom. Especially for the average person. I just wish smart people like Robbins would be willing to accept the truth in his own statement, reject the failure of populism and advocate for free-markets with as much zeal.

The Great Schumpeter:

“Queen Elizabeth owned silk stockings. The capitalist achievement does not typically consist in providing more silk stockings for queens but in bringing them within the reach of factory girls in return for steadily decreasing amounts of effort.”