¿Qué debe hacer el Estado? | Martín Krause

Martín Krause explains that individuals have two ways of satisfying their needs: one through the market, where they acquire the goods or services they need, and another provided by the State, such as security, justice, protection of property rights, and others. Based on this premise, he notes that economic science is concerned with finding a scientific approach to define which needs each of these institutions can or should provide. He presents theories developed by various authors, including Adam Smith's invisible hand, Vilfredo Pareto's concept of optimum, which posits the need for an entity to correct market imperfections, Arthur Cecil Pigou's theory of externalities, and the proposals of Paul Anthony Samuelson and Ronald Coase regarding private and public goods. Finally, he discusses the economic analysis of policy, or Public Choice, associated with James Buchanan and other authors who contribute to determining the functions and shortcomings of the State in society. Chapters 00:00 Introduction 03:49 Contributions of Adam Smith 05:21 Economic Process 06:57 Efficiency Criterion 09:04 Vilfredo Federico Damaso Pareto (Vilfredo Pareto) 23:24 Perfectly Competitive Market 25:04 Reasoning Mechanism in General Economics 27:04 Externalities 31:48 Internalization of the Effects of Externalities 39:32 Ronald H. Coase 45:10 Institutional Alternative 47:18 Problem of Subjectivity of Value 52:00 Other Economic Schools of Thought 52:53 Priority Values ​​of Society 59:15 Closing Remarks 59:49 Questions, Answers, and Comments Segment 01:17:09 Words of Acknowledgment 01:17:15 Closing Credits #MartinKrause #Economics #State Social Media: Facebook •   / sergiosantidiaz   Instagram •   / sergiosantidiaz   TikTok •   / sergiosantidiaz   Twitter •   / sergiosantidiaz   Discord •   / discord   Join this channel to access its benefits:    / @sergiosantidiaz   Martín Krause He holds a PhD in Administration from the Catholic University of La Plata, Argentina. He is a professor at the Faculty of Economics and Law and Social Sciences of the University of Buenos Aires, Argentina, and served as Rector of ESEADE, a university institute in Argentina. He is a visiting professor at Francisco Marroquín University and an Associate Scholar at the Cato Institute in Washington, D.C., USA. Martín Krause has published several books: *The Tale of Economics*, *In Defense of the Most Needy*, *Projects for an Open Society*, co-authored with Alberto Benegas Lynch (Jr.), and *Direct Democracy*, co-authored with Margarita Molteni. He has also published book chapters and numerous articles in academic journals and newspapers throughout the Americas. He has dedicated himself primarily to academic and consulting work in the field of economics, participating as a speaker at seminars and meetings, and as an observer in various electoral processes worldwide. In addition, he has received several awards and scholarships, including the Buenos Aires Academy of Sciences Prize (Law and Economics), the Eisenhower Exchange Fellowship, and the John Templeton Foundation's Freedom Project. Credits What Should the State Do? Martín Krause Juan Bautista Gutiérrez Auditorium Francisco Marroquín University Guatemala, February 23, 2012 A New Media - UFM Production. Guatemala, April 2012 Camera and Digital Editing: Rebeca Zuñiga; Index: Ethel Castro; Publication: Claudia de Obregón.