Rethinking Economics


The BBC wrote a piece on the failure of economics. “Many non-economists will say that the economists must have been stupid not to realise what was wrong with their subject. All that I’ve set out here should have been obvious,” the article commented. Indeed, the field of economics has been really a disaster because people are still trying to manipulate it and create the land of Utopia. They assume the power to control and eliminate the business cycle exists, which began with Karl Marx.

We have people focusing on the disparity of income who argue that is the whole problem. Nobody seems to have a mirror or is willing to just look at themselves. Nobody will even question why governments are borrowing year after year with no intention of ever paying anything off. We constantly have fights over raising debt ceilings that will always have to be raised. The question is never asked: “Do we have to revise both the monetary system and the political system to prevent massive civil unrest?” This battle waged by the left to subjugate the right only leads to violence.

Sweatshop Wages and Third-World Workers: Are the Wages Worth the Sweat?


Published on Jun 7, 2011

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Prof. Ben Powell discusses the economics of sweatshops. He begins with a few photos and personal travel stories to demonstrate typical working conditions in third world countries. He then discusses the economic forces that determine working conditions and wages. Looking at empirical data, he finds that sweatshop workers earn higher wages than non-sweatshop workers in their respective third world country. He concludes with recommendations to activists who want to actually help sweatshop workers. Credits: This lecture was delivered in 2009 at the Metropolitan State College of Denver School of Business, as part of the Exploring Economic Freedom Lecture Series, directed by Prof. Alexandre Padilla. This video was produced and directed by Scott Houck, and edited by Adrienne Christy. Video production provided by the Educational Technology Center at Metropolitan State College of Denver. Video used by LearnLiberty.org with permission.

Australian Conservatives Win by Thin Margin


Australia’s center-right government won a surprise victory over the left. Voters backed the center-right government in a slowing economy for another three years and rejecting the opposition’s progressive agenda which has been really pretty out there at times. Despite trailing in most opinion polls for years, Scott Morrison’s Liberal-National coalition won attacking Labor’s pledge to take tougher action on climate change and strip tax perks from wealthy Australians. Many are calling Labour’s loss for its leader Bill Shorten, the shock of all time up there with the loss of Hillary Clinton because the polls just got it wrong again.

Debt Loops Rationale and Effects


Published on Oct 25, 2010

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Positive and negative effects of China’s devaluing of their currency More free lessons at: http://www.khanacademy.org/video?v=XB…

Introduction to Balance Sheets | Housing | Finance & Capital Markets | Khan Academy


Published on Mar 15, 2008

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Using a home purchase to illustrate assets, liabilities and owner’s equity. Created by Sal Khan.

Present Value 4 (and discounted cash flow) | Finance & Capital Markets | Khan Academy


Published on Sep 6, 2008

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Lets change the discount rates depending on how far out the payments are. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics… Missed the previous lesson? Watch here: https://www.khanacademy.org/economics… Finance and capital markets on Khan Academy: If you gladly pay for a hamburger on Tuesday for a hamburger today, is it equivalent to paying for it today? A reasonable argument can be made that most everything in finance really boils down to “present value”. So pay attention to this tutorial.

Present Value 2 | Interest and debt | Finance & Capital Markets | Khan Academy


Published on Sep 6, 2008

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More choices as to when you get your money. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics… Missed the previous lesson? Watch here: https://www.khanacademy.org/economics… Finance and capital markets on Khan Academy: If you gladly pay for a hamburger on Tuesday for a hamburger today, is it equivalent to paying for it today? A reasonable argument can be made that most everything in finance really boils down to “present value”. So pay attention to this tutorial.

Introduction to present value | Interest and debt | Finance & Capital Markets | Khan Academy


Published on Sep 5, 2008

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A choice between money now and money later. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics… Missed the previous lesson? Watch here: https://www.khanacademy.org/economics… Finance and capital markets on Khan Academy: If you gladly pay for a hamburger on Tuesday for a hamburger today, is it equivalent to paying for it today? A reasonable argument can be made that most everything in finance really boils down to “present value”. So pay attention to this tutorial. 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. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1R… Subscribe to Khan Academy: https://www.youtube.com/subscription_…

 

Interest (part 2) | Interest and debt | Finance & Capital Markets | Khan Academy


Published on Apr 22, 2008

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More on simple and compound interest. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics… Missed the previous lesson? Watch here: https://www.khanacademy.org/economics… Finance and capital markets on Khan Academy: This is a good introduction to the basic concept of interest. We will warn you that it is an older video so Sal’s sound and handwriting weren’t quite up to snuff then. 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. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1R… Subscribe to Khan Academy: https://www.youtube.com/subscription_…

 

Introduction to interest | Interest and debt | Finance & Capital Markets | Khan Academy


Published on Apr 22, 2008

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What interest is. Simple versus compound interest. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics… Missed the previous lesson? Watch here: https://www.khanacademy.org/economics… Finance and capital markets on Khan Academy: This is a good introduction to the basic concept of interest. We will warn you that it is an older video so Sal’s sound and handwriting weren’t quite up to snuff then. About Khan Academy: Khan Academy is a nonprofit with a mission to provide a free, world-class education for anyone, anywhere. We believe learners of all ages should have unlimited access to free educational content they can master at their own pace. We use intelligent software, deep data analytics and intuitive user interfaces to help students and teachers around the world. Our resources cover preschool through early college education, including math, biology, chemistry, physics, economics, finance, history, grammar and more. We offer free personalized SAT test prep in partnership with the test developer, the College Board. Khan Academy has been translated into dozens of languages, and 100 million people use our platform worldwide every year. For more information, visit http://www.khanacademy.org, join us on Facebook or follow us on Twitter at @khanacademy. And remember, you can learn anything. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1R… Subscribe to Khan Academy: https://www.youtube.com/subscription_…