Episode 3: Resources

[smile4varsity]

i love u soooo much for making these videos....thank you!!! :D

they are amazing!!

[fanaticastype]

the sound on your videos is TOOOOO LOWWWWWWWWWWWWWWWWWWWW

[mjmfoodie]

@fanaticastype That's why there is an "Episode 3 (Version 2)" with better audio.

[kassrnap]

Luv this video. very informative

[diannetherese07]

Good Evening Sir! I would like to say something on the Entrepreneurial Ability. Regarding on the story of Joe and his friend, I can say that they were good Entrepreneurs. They have organized their resources properly and took risks. Now, they are already successful Bussinessmen. Resources are very important to us humans. It is where we can have our source of livelihood. But then, we should not abuse our resources for we are the one to suffer if it happens. -Balbuena, Dianne Therese

[itsuptome27]

thanks alot 

[mjmfoodie]

Episode 1 is for my students - it covers my course syllabus. I didn't think I needed to subject the world to that.

[findyourintelligence]

where is episode 1?

[dumky]

Thanks for the educational effort.

It is a misconception that money is not a good. Historically and theoretically, money is actually a good, simply one which is found to be marketable enough that people want to get it not only for direct use, but also as a means of exchange.

I guess you can say that fiat (paper) money which has been used in recent decades is not a production good.

[mjmfoodie]

Oh, I absolutely agree with you that money is a good (and necessary for a more efficient economy); it just isn't a productive resource.

[oleksandrik]

@dumky People have no problem with money. They have a problem with the continuous aspect of money that lets it shift into only hands of the wealthy, regardless of the amount of work that they output.

[dumky]

@oleksandrik

Assuming what you say were true (the rich tend to get richer, regardless of productivity), this is not a problem of money. Absent money, the same thing would presumably happen, only in terms of real goods, or "stuff". Money is not the problem and is not making the problem worse.

Further, I question that the wealth concentration phenomena you describe really exists. It would suggest that voluntary exchange leads to unjust allocation in some sense, the question is in what sense?

[cbcooksey]

To mjmfoodie: I teach college economics and I love your educational videos. I would like to obtain your permission to embed your videos in a blog that I use for my students. The site is for educational purposes only. How can I obtain your permission?