Economics is Fun, Part 3: Specialization

[Chris]

Here we get into the value of specialization. Adam Smith's famous pin factory example is referred to. Another example is Leonard Read's I, Pencil. Here's another in which the brewing of beer is used as example to explain How The Economy Works.

[Conley]

I'm glad to see Part 3...this one is a classic! The haters are missing out.

I love when he busts out his kids' science fiction books:

http://madsen-pirie.com/the-things-t...ience-fiction/

On topic, good material in the video and history of specialization & assembly.

[Peter1469]

This guy knows his stuff