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701, 2018

Exports and Imports – Protectionism, Tariffs and Who Benefits From Them

By |January 7th, 2018|Categories: Blog, Films|0 Comments

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 of exchange, then what do we ultimately pay [...]

1611, 2017

Division of Labor and Free Trade – Comparative advantage

By |November 16th, 2017|Categories: Blog, Films|0 Comments

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 the Econ Clips team would fly you [...]

2109, 2017

Where do jobs come from? Employment vs self-employment

By |September 21st, 2017|Categories: Blog, Films|Tags: |0 Comments

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 resources to meet their needs as [...]

1009, 2017

4 Questions to Ask When Debating Inequality

By |September 10th, 2017|Categories: Blog, Films|Tags: |0 Comments

The change in the presidency is not going to reduce the amount of time and energy people will be spending debating the question of rising inequality. In fact, I would expect to see such [...]

1308, 2017

Is government spending effective?

By |August 13th, 2017|Categories: Blog, Films|0 Comments

Let us start by asserting that the money the government holds is not its own. In general the government does not produce anything, nor create wealth, nor even create jobs. If we are lucky, [...]

1305, 2017

Price system: free market vs. government intervention

By |May 13th, 2017|Categories: Blog, Films|0 Comments

What is the role of the prices on the market? What happens when the government interferes with the market and sets a maximum or minimum price at a level other than the free market would? [...]

1804, 2017

Economics in One Lesson – That Which is Seen, and That Which is Not Seen

By |April 18th, 2017|Categories: Blog, Films|Tags: |0 Comments

What distinguishes a good economist from a bad economist? We may invoke Hazlitt’s question: Why is it that economics is haunted by more fallacies than any other study known to man? To explain this, [...]

1104, 2017

Austrian Business Cycle Theory – What causes business cycles?

By |April 11th, 2017|Categories: Blog|0 Comments

In one of the previous episodes we discussed time preference and interest rates. If you have not seen it, watch it before you start this episode. Today we will discuss how dreadful crises arise. [...]

603, 2017

Minimum wage

By |March 6th, 2017|Categories: Blog|0 Comments

According to many politicians we only need to raise the minimum wage! If the task is as easy as passing merely one bill, if this will make all workers earn more, then why not just [...]

1302, 2017

Value of things

By |February 13th, 2017|Categories: Blog|0 Comments

How do we determine the value of things? Aristotle had asked a question that remained unanswered through centuries: Why water that is vital for all life is cheap, while diamonds are expensive, even though [...]