Filed under: Capitalism, Domestic Policy, Economics, Economy, Entertainment, Free Markets, Freedom, Humor, YouTube | Tags: Dr. Madsen Pirie, Economics can be fun, The Adam Smith Institute
Dr. Madsen Pirie, President of the Adam Smith Institute is explaining how basic economics is based on fundamental understanding of human nature. I posted this back in 2012, and found it in the archives when one visitor called it to my attention. This clearly demonstrates why Donald Trump doesn’t understand Trade at all, and is up the river without a paddle for his canoe. Ditto Hillary and Bernie.
Economics often seems too complicated for us everyday mortals, but it’s just based on understanding the real world. The workings of the market, the everyday buying and selling, profit and loss, tell us, if we choose to pay attention, how money, trade and markets really work.
Never fear, these are all really, really short, and worth your time.
Economics can be fun, and here’s another lesson: Economics is fun, Part 2. All about Price. How do products get priced, and what is the right price?
Part 3 is about Specialization. This is not about those puzzling charts and graphs, and how Money, Trade and Markets really work.
Part 4 is about Trade and how countries become rich.
Part 5 is about Time and Investment.
Part 6 of Economics is fun is about Money:
There are more, but so far you have invested around ten minutes. If you want more, go to You Tube and enter “Economics is fun” and start with lesson 7. You are better armored against the remarkable statements of our politicians on the stump. A little knowledge, as they say, is a dangerous thing. You might try them out on your kids if they are the right age.
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