This is my attempt to explain the nature of money, Capitalism (free exchange), and their only alternatives.
The quote at the end is from a speech in Atlas Shrugged, by Ayn Rand (recommended). I strongly recommend reading the full speech here:
http://www.capmag.com/article.asp?ID=1826
I also recommend these links:
http://bastiat.org/ (particularly The Law)
http://www.capitalism.org/faq
Duration : 0:2:16
Agriculture is easily the most distorted sector, with high tariffs and, in developed countries at least, large amounts of government subsidies through price supports and direct payments. On the other hand, developing countries, who have a comparative advantage in these products, cannot afford to subsidize their agriculture sector and face prohibitive tariffs for their products abroad. The powerful agriculture lobby groups, particularly in the large developed countries, make reform politically difficult. Chris Edwards, Sallie James and Dan Ikenson discuss the inequities of American farm policies.
This video was produced by Caleb Brown ( http://www.twitter.com/cobrown ) and Austin Bragg ( http://www.twitter.com/habragg ).
Duration : 0:5:33
A short and probably inadequate discussion of the economic role and origin of money.
People will try and tell you all sorts of funny things about money, what it is, where it comes from. A sure sign people are talking out of their arse is if they say something like ‘modern money is just debt’. Debt is owing money. Money can’t be owing itself. Come on…
But even respected economists like to oversimplify things, and I’ve horribly oversimplified a lot here, but in a non ideological way, so hopefully you’ll learn something and be able to deal with strange economic ideas when and if they arise in discussion.
Duration : 0:6:9
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Duration : 0:4:13
In his book Free to Choose, Milton Friedman described four ways to spend money.
1. You spend your own money on yourself.
2. You spend your own money on someone else.
3. You spend someone else’s money on yourself.
4. You spend someone else’s money on someone else.
The graphic shown in the video that displays the four ways to spend money can be viewed at http://freedomchannel.blogspot.com/2008/09/4-ways-to-spend-money-by-milton.html
Duration : 0:2:40