Ninth lecture of Principles of Economics explores trade as voluntary exchange that benefits all parties, explaining subjective valuation, absolute and comparative advantage, and how specialization and the division of labor raise productivity, cooperation, and civilization.Get all ...عرض المزيد
317. Principles of Economics Lecture 8: Energy and Power
Eighth lecture of Principles of Economics examines energy and power as essential drivers of production, showing how abundant energy, especially hydrocarbons, raises productivity, expands trade and living standards, and helps explain prosperity, freedom, and the decline of slavery ...عرض المزيد
Gold became money as determined by the free market because of its properties—scarcity. But with the invention of Bitcoin, we are now seeing a historical event that will never be repeated. Bitcoin’s characteristics make it a direct competitor to the central banks because of its ab ...عرض المزيد