Intro to Economics 2/4(econo growth=prosperity, competition)

Second in a series of 4 videos that provide an introduction to economics.

This video provides an example that shows how the concepts of production, consumption, human action, value and trade all work together to shape the social order. Then it shows how we should be concerned about economic growth and realize that as the economic pie grows everyone will inevitably get a bigger slice of prosperity. Finally it introduces the concept of economic competition.


The concepts mentioned here are discussed in more detail in my book "Economics, the Social Order, and the Ron Paul Revolution" which can be purchased from amazon.com here:

http://tinyurl.com/25qf9m

Category:

Education

Tags:

• economics
• socialism
• capitalism
• freedom

[buffalobillsfan48]

i must say that shirt looks very comfertable..... yeah

[jestoninnes]

This is a very poorly delivered message. While the majority of what you say is true it is not well explained. And just to note several of your definitions are by no means universally accepted.

[Johnhoulgate]

Richard Maybury calls this movement from inferior to superior states as "The Advancement of Civilization" principle. When both parties in a transaction benefit, civilization takes a small step forward.