Economics is Fun, Part 1: Value

[Chris]

Economics can be fun. Here's Dr Madsen Pirie, President of the Adam Smith Institute, explaining where the value of goods and services comes from. The answer is in the first 30 seconds. He goes on to explain and contrasts capitalist and socialist views, etc.

This will be on the test: Where does value come from?




(Wasn't sure where to put this, not really US politics, not really politics, economics?)

[Conley]

Thanks Chris, this will be helpful to me as I don't have as good of an economics background as I'd like.

I'm sure I'll have questions.

[Conley]

It's in the mind! Great video, not as in-depth as I expected but considering it's only two and a half minutes, not a surprise. It was fun and a neat slam on Marx.

[Peter1469]

Good points made in the video.

[Chris]

Yes, value is subjective.

Don't worry, there's more, that will build on this.