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Economics

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The dirty secret of capitalism -- and a new way forward | Nick Hanauer

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Rising inequality and growing political instability are the direct result of decades of bad economic theory, says entrepreneur Nick Hanauer. In a visionary talk, he dismantles the mantra that greed is good -- an idea he describes as not only morally corrosive, but also scientifically wrong -- and lays out a new theory of economics powered by reciprocity and cooperation.

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8 Months of Stimulus Just Unraveled

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#Repo #FedRepo #Economics

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Intro to Economics: Crash Course Econ #1

In which Jacob Clifford and Adriene Hill launch a brand new Crash Course on Economics! So, what is economics? Good question. It's not necessarily about money, or stock markets, or trade. It's about people and choices. What, you may ask, does that mean. We'll show you. Let's get started!

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How The Economic Machine Works by Ray Dalio

Economics 101 -- How the Economic Machine Works.

Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, How does the economy really work? Based on Dalio's practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.


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Adam Smith: The Grandfather Of Economics

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This is Adam Smith. Adam Smith was a Scottish philosopher and author who is probably best known for writing a book titled “An Inquiry Into the Nature and Causes of … The Wealth of Nations!”

This book effectively marked the beginning of economics as an academic discipline as Adam Amith, (now heralded as the father of economics) laid the foundation for economic rules and principles that guide decision making the world over.

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???? If you want to learn more about this topic, be sure to check out the book The Wealth of Nations by Adam Smith ???? (note: as an Amazon associate, EE earns from qualifying purchases. Thanks for supporting our show!)

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Economic Schools of Thought: Crash Course Economics #14

We talk a lot about Keynesian economics on this show, pretty much because the real world currently runs on Keynesian principles. That said, there are some other economic ideas out there, and today we're going to talk about a few of them. So, if you've been aching to hear about socialism, communism, the Chicago School, or the Austrian School, this episode is for you.

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What is Economics?

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Introduction to economics | Supply, demand, and market equilibrium | Economics | Khan Academy

Learn about some of the key ideas that influenced early economic thinkers, such as Adam Smith, in this video.

Practice this yourself on Khan Academy right now:




Economics on Khan Academy: Economics is the study of individuals and societies allocate scarce resources. Learn how markets work, how individuals maximize their happiness and firms maximize profits, and how economies grow. We hit the topics you would expect to see in high school and college level introductory economics courses.

About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.

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Supply and Demand: Crash Course Economics #4

In which Adriene Hill and Jacob Clifford teach you about one of the fundamental economic ideas, supply and demand. What is supply and demand? Well, you’ll have to watch the video to really understand it, but it’s kind of important for everything economically. Supply and demand sets prices, and indicates to manufacturers how much to produce. Also, it has a lot to do with strawberries.

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Thomas Sowell -- Basic Economics

Recorded on December 14, 2010

Thomas Sowell has studied and taught economics, intellectual history, and social policy at institutions that include Cornell University, UCLA, and Amherst College. Now a senior fellow at the Hoover Institution, Sowell has published more than a dozen books, the latest of which is a revised and updated edition of his classic volume, Basic Economics.

Through its various editions, Sowell writes, the fundamental idea behind Basic Economics remains the same: Learning economics should be as uncomplicated as it is informative. Here, Sowell seeks to uncomplicate some of the economic issues confronting the country today, from the financial crisis and the role of the Fed to the economics of health care and trade imbalances.

An economist walks into a bar | Robert Litan | TEDxKC

This talk was given at a local TEDx event, produced independently of the TED Conferences. Litan's talk explores the surprising role economists have played in the development of the internet economy -- and quite possibly your love life.

As an economist and attorney, Litan has had nearly four decades of experience in the worlds of the law, economic research and policy, and as an executive in the private, public and government sectors. He has directed economic research at three major organizations – The Brookings Institution, The Kauffman Foundation and Bloomberg Government – and authored or co-authored 27 books on a variety of economic topics. His most recent book, “The Trillion Dollar Economists,” will be published by Wiley Press this September.

Litan currently is a non-resident senior fellow at Brookings; counsel to Korein Tillery, a law firm based in St. Louis and Chicago specializing in large case litigation; chief economist at Main Street Genome, a D.C.-based startup providing financial analytics to small businesses; and a regular contributor to the Think Tank blog published by The Wall Street Journal.

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What is economic value, and who creates it? | Mariana Mazzucato

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Where does wealth come from, who creates it and what destroys it? In this deep dive into global economics, Mariana Mazzucato explains how we lost sight of what value means and why we need to rethink our current financial systems -- so capitalism can be steered toward a bold, innovative and sustainable future that works for all of us.

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Basic Economics - Thomas Sowell Audible Audio Edition

Basic Economics is a citizen’s guide to economics-for those who want to understand how the economy works but have no interest in jargon or equations. Sowell reveals the general principles behind any kind of economy-capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.

We Are Living Through The Scariest Economic Experiment In History Right Now...And No One Knows It

Many countries around the world have, on paper...seemingly recovered from the economic collapse that occurred last year.
Unemployment rates are getting closer to normal, the number of business bankruptcies has hit a 2 year low, and the stock market is at an all time high?

On the surface, this seems great. But in reality, we are actually going through the biggest and scariest economic experiment in history. An experiment which could help bring us into a golden age of a new kind of economy...or it could bring us into a new dark age that the world has never seen before.


In the 7th century in China, copper coins were used as the main currency for chinese merchants. But these merchants at the time, began running into a problem.
You see, these coins were quite heavy and many of them could be used for a single transaction, which was quite inconvenient for carrying around a city.
So to combat this problem, Chinese merchants came up with the idea. What if they just deposited these heavy coins with a person or business, and received a piece of paper called, a promissory note, or banknote, in return? That way merchants would not have to carry around large amounts of heavy coins all day, and they can be safely stored at a single location.

And thus the primitive form of paper money was born, and was implemented throughout the currency system in China.

After a few centuries of using this type of currency system, the Chinese government noticed something strange.You see, a copper shortage caused the government to issue more of these promissory notes and less copper coins.
And during this time, the government saw a massive boost to its economy, allowing for the government to spend more on things like military and infrastructure.

So, they ran an economic experiment that would become very important to what we are experiencing today.

The chinese government declared that their new form of paper currency, was considered a public monopoly owned by the government. This allowed the ancient chinese government to completely control its own currency.

And for a couple hundred years, the governments ability to print money on command, and control inflation, worked well. But little did they know, a global threat was emerging out of central asia, that would change the course of history.

A man named Temujin had recently united the Mongol Tribes in the year 1206, and then became known as Genghis Khan. He soon launched the largest military conquest in human history, with his successors eventually taking over China and forming the yuan dynasty in 1271.

During the Yuan Dynasty, the newly formed Chinese/Mongol government wanted to keep spending government money to further fund their conquests. But instead of limiting their spending, or worrying about their government debt, they decided to just manufacture more and more paper money, in order to fund their military campaigns. They figured that because they were the government and had a public monopoly on its currency, they could do whatever they wanted with little or no repercussions. So they essentially revamped their paper money, turned it into the worlds first fiat currency, and started running their empire on a completely new economic theory.

And for a little while it worked.

But after years war in Japan, Vietnam, Burma, and Java, and years of ignoring debt and inflation, the economy of the Yuan Dynasty began to collapse.

Inflation rose to 80% in the early 1300’s, their was a severe debt crisis, the population became impoverished within the span of about 5 years, and the governments theory on how printing money could solve their economic problems came crashing down.

And it was this economic downfall combined with the governments inability to help its people after several natural disasters, that led to the collapse of the yuan dynasty in 1370.

And that brings us to today. You see, as we all know, governments around the world have compiled record levels of debt in order to keep their economies afloat during the pandemic. They have also printed money at not only record levels, but levels that are comparable to that of the yuan dynasty in the early 1300’s.

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Is An Economics Degree Worth It?

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Today's video is going to be about economics degrees and whether it's worth it or not

This is technically not a business degree but graduates may end up competing for the same job, so I sort of group them together

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There are a lot of college degrees out there and economics is one of those degrees where it's not 100% obvious that it's a good one

So we will go over some of the careers that you can get, the salary, the job satisfaction, the job outlook, and also the x factors that go into choosing these types of jobs

These videos are for educational and entertainment purposes only. I am not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, not the opinion of a stranger on the internet.

Sources and further readings:
bls.gov(bureau of labor statistics)
nces.ed.gov(national center for educational statistics)
payscale(provides information on jobs and degrees)

An Economics Degree Is Worth The Money... (Complete Economics Degree Review)

I studied Economics for 3 years. It has changed my life (I'm not lying...). Today I review my experience studying for an economics major, economic degree and let you know what surprised me about my studies. This video should help you decide if doing an economics degree is a good choice for you.

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Economics is a very popular major and degree. Some people get stuck between choosing a business, finance, accounting or economics degree and this video should help you choose. Economics degree in UK. Economics Degree in the US. Economics degree in Australia. With Alevel results day around the corner, this is the perfect time to bring out a full review of my Bsc economics and finance degree. It's a high paying degree meaning if you study for an economics degree or an economics major you should have a good salary and make good money and it shouldn't be too hard either ;). Is economics a good degree? Is economics a good major?

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Hyperinflation is Already Here – You Just Haven't Realised It Yet.

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Hyperinflation has been a doomsday scenario for modern economies throughout the last century. In all of these failed countries (Zimbabwe, Venezuela, Hungary, Yugoslavia, etc.) there have been uniform warning signs, the same signs that we are starting to see today in the U.S.

#Inflation #Hyperinflation #Economics

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#Inflation #Hyperinflation #Economics

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Why Economists Never Agree on Anything?

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An economy is a collection of production and consumption processes that are all working towards solving the central economic problem.

The problem is that we only have access to a finite amount of resources, but the potential for human consumption of goods and services is pretty much limitless.

This is the foundation of economics, every study, every paper, every theory, economic policy, or experiment is ultimately an attempt to find a solution to a problem, that by its very nature, has no solution.

Economics is considered a social science, and although some other scientists from more “rigorous” fields don’t always welcome it into their little club, it still follows the same processes to explore the world around us.

And, as with science, or anything that is extremely complex for that matter, there are disagreements between practitioners at all levels of academia and throughout the entire history of the subject.

The economic schools of thought are very broad ways that economists are clumped into basic groups.

Now the first thing to know about all of these schools of thought is that they all agree with one another on most issues.

In the same way that two physicists will obviously agree with one another that and object at rest will remain at rest, but might disagree about string theory. Two economists will obviously agree that there are opportunity costs for every unit of production, but they might disagree on the long term implications of a consumption tax.

The economy impacts our financial situations, our governments, retirements, environments, crime rates, and basically anything else that is going to make news headlines.

As with anything that people are invested in they form opinions around it. And those opinions are held by everybody from Nobel laureate career economists to that crazy guy advocating for a seed-based economy.

If this contention wasn’t enough then there is one other issue that makes these schools of thought difficult to deal with, and that is that there are no strong borders between them.

There are plenty of economists that agree with some of the principles of one school of thought and then disagree wildly on some other areas. Which is actually a good thing. But more on that later.

For now, to try and make sense of this wild world we are going to look at three major schools, Classical, Austrian, and Keynesian.

To show the differences between these schools we are going to look at the way they suggest solving the central economic problem in key areas.

What they suggest the role of government is.

What do they think the role of the individual is.

What they propose doing in an economic crisis.

And finally what is the key to delivering a wealthier happier economy?

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If you’d like to dive deeper in to the topics discussed in this video, we recommend checking out these fantastic books:

???? Wealth of Nations by Adam Smith -
???? The General Theory of Employment, Interest and Money by John Maynard Keynes -

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What causes an economic recession? - Richard Coffin

How can factors like inflation, supply and demand, and interest rates trigger recessions? Learn the economic basics of modern markets.

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For millennia, the people of Britain had been using bronze to make tools and jewelry, and as a currency for trade. But around 800 BCE, that began to change: the value of bronze declined, causing social upheaval and an economic crisis— what we would call a recession today. So what causes recessions? Richard Coffin digs into the economic fluctuations that affect our modern markets.

Lesson by Richard Coffin, directed by Augenblick Studios.

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Thank you so much to our patrons for your support! Without you this video would not be possible! Felipe Hoff, Rebecca Reineke, Cyrus Garay, Victoria Veretilo, Michael Aquilina, William Biersdorf, Patricia Alves Panagides, Valeria Sloan Vasquez, Mike Azarkman, Yvette Mocete, Pavel Maksimov, Victoria Soler-Roig, Betsy Feathers, Samuel Barbas, Therapist Gus, Sai Krishna Koyoda, Elizabeth Parker, William Bravante, Irindany Sandoval, Mark wisdom, Brighteagle, Beatriz Inácio, Mighterbump, Pamela Harrison, Maija Chapman, Liana Switzer, Curtis Light, The Brock, Dianne Palomar, Edgar Campos Barrachina, Maria Lerchbaumer, Ever Granada, Marin Kovachev, Ravi S. Rāmphal, Penelope Misquitta, Tekin Gültekin, Jhuval, Hans Peng, Gaurav Mathur, Erik Biemans, Tony, Michelle, Katie and Josh Pedretti, Vaibhav Mirjolkar, Thomas Bahrman, Allan Hayes, Aidan Forero, Uday Kishore, Mikhail Shkirev, Devesh Kumar, Sunny Patel and Anuj Tomar.

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