A Petition – Frédéric Bastiat | Candlestick makers’ Petition
A Petition – Frédéric Bastiat. Animation of famous candlestick makers’ petition by Frédéric Bastiat. It’s a great lesson about free trade, and a big blow to the protectionist […]
Price Discovery | How prices are determined?
In our previous videos entitled “The Value of Things” and “Scarce Resources” we have discussed how value is a subjective phenomenon. Two diverse people […]
? Scarcity & Choice | Why Can’t We Have Everything We Want?
We live in a world of scarcity. This fact is beyond question. Our time, land, and work are scarce. Producer and consumer goods are scarce as well. […]
Housing bubble and the great recession | 2008 Financial Crisis
Without a question we can all remember the financial crisis of 2007–2008. Perhaps you learned of its effects the hard way. The media told us that greed […]
The Great Depression | What Caused It?
The Great Depression of the 1930s is still considered by many to be a failure of the free market and of the laissez-faire capitalism. At a first […]
Is Legal The Same As Moral And Just? | What Good Law Should Look Like?
Freedom of the market doesn’t imply the absence of law. To the contrary: free market is impossible without good law. Then what function should the law fulfill? […]
Exports and Imports | Protectionism, Tariffs and Who Benefits From Them
What do we pay with for the products and services we need? With money, of course. But if we realize that money is merely a medium […]
Division of Labor and Free Trade – Comparative advantage
How hard would it be for one man to live if he had to do everything by himself? Let me rephrase the question. Imagine if […]
Where do jobs come from? Employment vs self-employment
Where do jobs come from? Why do all people not just work on their own?
Everyone strives to make the most effective use of their […]