Loading...
Uploaded by leearnold on May 8, 2007
"The farmer sells food to the city and buys goods in return." (College introductory economics level.)
Education
Standard YouTube License
But the overall pie is bigger. Sure, less people have work, but that's because less work suffices as productivity is improved by technology. Losing jobs isn't necessarily a bad thing on a macro scale.
FortNikitaBullion 9 months ago
@FortNikitaBullion -- See the video: "24. Adam Smith, chapters 1-2-3"
leearnold 9 months ago
That is a lot of work to make greater efficiency into a problem. More food produced by fewer workers is a good thing. It is called civilization.
snopro54 2 years ago
Absolutely true! Indeed, "civilization" originally meant something like "citification."
leearnold 2 years ago
Very well-explained!
VoiceHunter 1 year ago
that's good
i'm interested in your study case (ecology + economics)
MRSenviecon 2 years ago
Load more suggestions
But the overall pie is bigger. Sure, less people have work, but that's because less work suffices as productivity is improved by technology. Losing jobs isn't necessarily a bad thing on a macro scale.
FortNikitaBullion 9 months ago
@FortNikitaBullion -- See the video: "24. Adam Smith, chapters 1-2-3"
leearnold 9 months ago
That is a lot of work to make greater efficiency into a problem. More food produced by fewer workers is a good thing. It is called civilization.
snopro54 2 years ago
Absolutely true! Indeed, "civilization" originally meant something like "citification."
leearnold 2 years ago